Insurance

Insurance

Msilikali SACCO provides members with convenient insurance services such as credit life, share cover, and funeral plans, in partnership with CIC Insurance Limited, MSACCO offers affordable and reliable solutions to its members which include;

Credit Life Insurance

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Credit Life Insurance

  • MSACCO Loans with members are covered by insurance – in terms of members’ death or permanent disability.
  • Members pays 2% of the loan amount as insurance subject to maximum of MK 300,000.00
  • This comes with Funeral Rider MK50,000.00 to support beneficiaries during the difficult times.
  • In the event of the death of a member, Outstanding loans are paid off by the insurer (CIC Life Insurance Ltd) provided such loans are not delinquent or in arrears.

    • Share Cover Insurance

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    Share Cover Insurance

  • Members Shares are insured by MSACCO in terms of members’ death or member incapacitation
  • Members' shares are doubled when paying out to the members' beneficiaries in the event of death or incapacitation e.g. MK 2 million shares beneficiaries are paid MK 4 million
  • Comes with a funeral rider of MK 50,000.00

    • Kangachepe Life Insurance

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    Kangachepe Life Insurance

  • This is a funeral policy that covers MSACCO members and their dependents to support funeral expenses.
  • The policy provided in partnership with CIC Life Insurance Ltd
  • Provides a payment in the event of the death of the main member, spouse and up to four children who are under 21 years.
  • Members contribute premiums of MK 1,150.00 monthly.
  • In the event of death CIC Life Insurance pays as follows Main Member - MK1,000,000.00 Spouse - MK 800,000.00 Children - MK 500,000.00
  • Claims are processed in 48 hours and paid at the nearest MSACCO Branch.

    • Become a member of Msilikali SACCO

    Join Msilikali SACCO today and enjoy the benefits.

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