CIC Life Assurance
Group Life Products
1. Loan guard
This covers all loan balances in the event of death / total permanent disability of a group or society member who is between age 18 and 75
The insurance covers members of a SACCO between age 18 and 75 years old with outstanding loans against death or total permanent disability. The premium is paid once for each individual loan.
3. Microfinance Insurance
Currently CIC offers a specialized group creditor life insurance policy customized to cover short-term loan balances on reducing balance basis for small scale businesses. This policy pays off the loan outstanding in the event that the insured borrower dies within the insurance period.
4. Group Life Assurance
Group Life Assurance Scheme provides for a lump sum to be paid in the event of the death of a member of the scheme provided he/she is still in the service of the employer or scheme holder. This cover enables the employer/scheme holder to alleviate the financial distress that might befall the dependents of an insured member upon his/her death.
5. Group Mortgage
This product is designed for institutions offering long-term loans (mortgages) for purchase of property (houses, cars, land).
6. Group Funeral Expenses
This policy covers burial expenses. A benefit of a specified sum assured per member.
Individual Life Products
1. The Board Members insurance plan
The Board Members Insurance Plan is an investment plan that pays cash benefit to a Board Member when the member leaves the Board through retirement or non-re-election. The benefits are as follows: Final Maturity Benefit, non Re-election benefit.
2. CIC Academia Policy
Academia is a savings policy to that enables you to make available finances to meet the future education requirements of your children.
3. CIC Invest Plan Policy
CIC Invest Plan Policy helps the insured to plan finances and avails money in installments at selected periods in the future. This will enable the insured to finance projects of choice in accordance with the time plan.
4. CIC Save plan policy
CIC Save plan Policy helps to put the insured in control by enabling him/ her to save for future specific plans. By choosing saving periods between 10 to 50 years, the insured has the flexibility to plan his/ her savings to suit budget and time plans.
5 CIC Family Protector Policy
This policy has been designed with the specific purpose of securing the welfare of dependants in the event of untimely death of the breadwinner. The policy is tailored to fit the pockets of the families of diverse income levels through its relatively low premium cost and flexible terms varying from 1,5,10,15 and 20 years.
6 CIC Universal Endowment Plan
This policy is an enhanced endowment product that is flexible enough to meet multiple needs such as education, capital investment and other investment plans while providing a death and disability cover.