The insured will be paid his or her benefits which is the sum assured at the end of the contract (the maturity of the policy) or if death occurs within the contract period. This contract will include:
All premiums, shall be payable at the head office of the Insurer. The assured may pay the insurance premium based on sum assured either monthly, quarterly, semi-annualy or annually.
One month but not less than thirty days (30) of grace are allowed for payment of premiums. If death occures within that period and before payment of the premiums then due, the policy will still be valid, and the sum assured paid after deduction of the said premium, as also the unpaid premiums failings due before the next anniversary of the policy
"Education is the most powerful weapon which you can use to change the world" - Nelson Mandela.
When the premium is not paid within the days of grace, the policy will be terminated and the insurer will provide written notice to the policy holder concerning termination of the policy. No Benefit shall be payable after the time of termination.
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