CIC CHURCH INSURANCE PRODUCTS. We keep our word

Transcription

1 CIC CHURCH INSURANCE PRODUCTS We keep our word

2 Our Purpose (mission) To enable people achieve financial security. Our Vision To be a world-class provider of insurance and other financial services. Our Core Values Integrity - Be fair and transparent Dynamism - Be passionate and innovative Performance - Be efficient and results driven Cooperation - Live the cooperative spirit

3 CIC CHURCH INSURANCE INTRODUCTION Churches and their related institutions like other entities are exposed to many dangers which if not taken care of can cause great financial distress and misery. This could result in heavy financial burdens to the members of these institutions if not insured. Burglars have targeted churches in the recent past, carting away hard earned church properties and money. Ministers of the gospel, who at times operate in harsh conditions and odd hours, have been exposed to many dangers. Church members have not been spared either. These consequences call for wisdom which we need to exercise to direct our destiny. CIC Insurance Group Limited being a God fearing organization and driven by our values of integrity, dynamism, performance, cooperation; has become a natural choice for churches to protect their property and workers. THE COVER The CIC Church Insurance has been carefully designed to respond to major perils faced by the church and affiliate institutions with the aim of safe guarding the interest of the church and its members. SECTION A: FIRE INSURANCE We will undertake to cover all church buildings and contents including but not limited to sanctuary, Sunday school classes, church offices, meeting rooms or halls, church pews or seats and other office equipment against the risks of: i. Fire ii. Lightning iii. Explosion of domestic gas cylinders iv. Earthquake v. Storm & floods vi. Malicious damage vii. Riot,strike&civilcommotion viii. Political violence SECTION B: BURGLARY INSURANCE Under this section, we will undertake to cover all moveable church property and items including but not limited to the following: office furniture, seats and equipment of every description against loss or damage arising from forcible and violent entry into and/or exit into the church buildings. Theft by employees or losses aided by the employees are not covered. SECTION C: ELECTRONICS ALL RISKS Under this section, we will undertake to cover electric and electronic equipment including but not limited to computers, laptops, photocopiers, fax machines and public address systems against loss or accidental damage. SECTION D: PUBLIC LIABILITY This section protects the employer against legal liabilities for acts of negligence resulting in injury or illness to third parties.

4 WORK INJURY BENEFITS ACT (WIBA) INSURANCE POLICY

5 Work Injury Benefits Act (WIBA) Insurance Policy SUMMARY OF COVER Work Injury Benefits Act (WIBA) Insurance is a replacement of the Workmen Compensation Act (WCA) cap 236 which was repealed and replaced by WIBA in 2007 The Policy is taken by employers to compensate their employees in the event they sustain bodily injury by accident or disease in the course of employment The cover extends to include transportation of employees to and from their places of work and also in relation to employment to and from social recreational and sporting activities and while participating in such activities The cover is also extended temporarily for employees deployed outside Kenya for a period not exceeding twelve (12) months continuously This is a no fault and therefore negligence need not to be proved against employers POLICY CONDITIONS The cover is subject to declaration i.e. it is required that the employer keeps a record of earnings and declare to the insurer actual earnings of all employees at the end of each insurance period The insured is required at all times to keep a proper record of all employees including their full names national identity card number, date and time of engagement,salaries wages earning for a period of not less than six years The insured is also required to establish Safety and Health Committees in the event they are employing more than twenty employees THE POLICY BENEFITS Death - Which is an equivalent of eight years salary maximum Kshs.10,000,000 per employee Permanent total disablement - Which is a percentage of the death benefit depending on degree of disability suffered again the upper ceiling Kshs.10,000,000 per employee Partial disablement - Which is an equivalent of actual earning but should not exceed twelve months earnings Medial expenses Actual medical expenses incurred as a result of an injury or illness subject to a maximum of Kshs.100,000 Funeral expenses The limit is Kshs. 30,000 per deceased person Summary of Benefits Death: Permanent Total Disability: Temporary Total Disability: Medical Expenses: Funeral Expenses: 96 Months Earnings 96 Months Earnings Actual weekly earnings, Max. 12 months Kshs.100,000 per person per accident Kshs.30,000 Policy Limits: Any one person: Kshs.10,000,000 Any one incident or event: Kshs. 25,000,000 Any one period: Kshs. 50,000,000 Medical expenses: Kshs.100,000 Funeral expenses: Kshs.30,000 The Policy does not take care of common law claims and it is advisable that the insured considers taking an employers liability cover.

6 CIC PASTOR S MOTOR PRIVATE INSURANCE

7 CIC PASTOR S MOTOR PRIVATE INSURANCE SUMMARY OF COVER Any loss or damage by accidental means, theft, malicious damage to the vehicle and third party liabilities (death, injuries and property damage) BASIC RATE 4% of vehicle value including political violence and terrorisim subject to maximum NCD POLICY BENEFITS Geographical area East Africa No blame no excess Windscreen cover up to Ksh. 30,000. Extra cover charge 10% Entertainment unit cover up to Ksh. 20,000. Extra cover charge 10% Emergency medical cover up to Ksh. 30,000 Towing charges up to Ksh. 30,000. Extra cover charge 10% Authorized repair limit Ksh. 30,000 Riot, Strike and Civil Commotion Pre-inspection and valuation at the time of first cover LIMITS OF LIABILITY Third party personal injury - unlimited Third party property damage Ksh. 5,000,000 Passenger legal liability per person and per event, Ksh. 3,000,000 and 20,000,000 respectively POLICY EXCESSES Own damage is 2.5% of vehicle s value with a minimum of Ksh. 20,000 and maximum of Ksh. 100,000 Theft with an anti-theft device is 10% of vehicle s value - minimum Ksh. 20,000 Theft without an anti-theft device is 20% of vehicle s value - minimum Ksh. 30,000 Third party claims Ksh. 7,500 Young / novice drivers 2.5% of vehicle value - minimum Ksh. 10,000 (additional) GEOGRAPHICAL AREA East Africa (Subject to payment for COMESA yellow card with regard to third party liabilities) USE Social, pleasure and own business DRIVERS CLAUSE Any authorized and licensed driver POLICY CLAUSES Cancellation clause (30 days) Including use by motor trader Including liability of passengers for acts of negligence Unobtainable parts clause Agreed value basis BENEFITS AT AN ADDITIONAL PREMIUM Loss of use (courtesy car) maximum 10 days (excluding the first 3 days) at Ksh. 3,000 per unit Excess protector 1% of sum insured of the vehicle, minimum Ksh. 10,000 Political violence at 0.25% of the sum insured, minimum Ksh. 2,500 SUBJECT TO A completed proposal form Evidence of No Claim Bonus Copy of driver s license Copy of Income tax PIN

8 CIC JIPANGE FUND For individuals as well as Employers who do not have a registered pension scheme.

9 CIC JIPANGE FUND CIC Jipange Fund is a fund that is ideal for individuals as well as Employers who do not have a registered pension scheme. Client Profile Individuals SMEs Given the requirement of the new NSSF Bill 2013 that every organization with at least one employee contribute into a registered pension fund, makes CIC Jipange Fund an ideal solution for most SMEs who do not have a registered fund for their employees. cheque. The cheque should be payable to: CIC PENSION PLAN Account details are as per below: A/C NAME BANK Branch CIC PENSION PLAN Kenya Commercial Bank KCB Custody Services A/C No Code 0113 Upon acceptance of the cover, CIC will prepare a service level agreement to be signed by both parties. A relationship manager will be assigned to you as a point of contact for all enquires to ensure the smooth running of the scheme. Benefits Through the CIC Jipange Fund, we offer the following benefits: Contribution into a pension fund which is already registered with IRA,KRA and RBA (No need to set up/register a separate pension fund). Principal guarantee Guaranteed return of 4% though we have been able to declare much higher bonus returns Competitive returns Tax exemption of pension contributions since the fund is registered with KRA Reduced costs due to economies of scale and consolidation of services (administration, fund management, trusteeship, custodial and audit). Opting out of Tier 11 contribution once the NSSF Bill becomes operational Competitive Net Return The following are our returns over the years: Year % 8% 8% 13.50% 14.50% Withdrawal Process In the event of resignation, deferment or death, CIC should be notified promptly in writing not later than one month from the date of the event giving rise to the claim. Claims Documentation A letter of withdrawal notification to the Fund Trustees CIC must be filed, Certified copy of the National I/D card In case of death, a death certificate must be produced Beneficiaries to the fund must provide proof of identity Claims Turnaround Withdrawal notifications will be settled within 7 working days, upon receipt of all the requisite documents Joining Process The fill in the attached CIC Jipange Group Proposal form, each member fills in the CIC Jipange individual form and the client attach a schedule of the members plus the contribution

10 PASTOR S GROUP LIFE COVER The Group Life Cover is a 24 hours worldwide cover for Pastors payable upon: Death arising from all causes (i.e. accidental and illness related deaths) Permanent Total Disability (PTD) RIDERS i) Critical Illness Rider The policy covers: Heart attack, Stroke, Cancer, Coronary Artery Disease, Major organ transplant, Kidney failure, Paraplegia or paralysis under the following benefits: 30 % of the underwritten sum assured up to 0.5 million will become payable if the life is diagnosed with a critical illness as defined in the policy document and 70% of the sum underwritten assured will become payable if the life dies within the insurance period. ii) Retrenchment/Normal Retirement Extension: The policy covers members of staff who have left employment on the basis of retrenchment or on attainment of normal retirement age or expiry of the policy year. TABLE OF BENEFITS: Group Life Benefit per person in the event of Death Premium per person Last Expense Benefit per person Premium per person Total Premium 500,000 5, ,000 1, , ,000,000 10, ,000 1, , ,000,000 20, ,000 1, , Requirements: 1) Minimum number of Pastors to enroll on the cover is 10. 2) Duly completed proposal form/schedule of insured pastors and their beneficiaries 3) Maximum age at entry is 75 years. Special rates to apply for Pastors/Reverends/Bishops above 75years at entry age. CLAIMS ADMINISTRATION: The claim validity remains throughout the insurance period (12 months) BUT claim notification should be as soon as it occurs, either by phone, or letter. A fully documented claim will be settled within 48 hours. Funeral Expense claim will be settled with 48 hours of claim notification and before burial. After notification we require the following documents to enable us to pay: In case of Death Claim Funeral Expense - a letter of notification from the Employer attaching the burial permit only Death Benefit Death certificate Copy of identity card (ID)/ Surrender ID

11 Completed Claim form In case of Critical Illness Claim Duly completed claim form Copy of ID Last payslip (if applicable) Comprehensive medical report from the attending doctor In case of Permanent Disability Claim Physician s statement CIC claim form duly completed Copy of identity card (ID) NO EXCLUSIONS except the UNIVERSALLY ACCEPTED, as listed below: a) Injury sustained consequent upon insured s willful exposure to peril (except in an attempt to save human life) or criminal act. b) Flying or Air travel except as a fare-paying passenger in a fully licensed passenger carrying aircraft provided such a passenger is not acting as a member of the aircraft crew, or flying for the purpose of any trade or technical operations connected with the aircraft in which he is traveling. c) War invasion act of foreign enemy hostilities (whether war be declared or not) civil war rebellion revolution insurrection military or usurped power, riot or civil commotion. d) Medical or surgical treatment except where such treatment is rendered necessary by bodily injury within the scope of this policy SERVICE DELIVERY: Service Delivery Group Life Our service delivery is self-evident on our prompt settlement of fully document claims without any exemptions hence keeping our word and geared towards exceeding your expectations during the insurance period.

12 GROUP FUNERAL EXPENSE COVER

13 GROUP FUNERAL EXPENSE The Bible says that it is appointed for men to die Hebrews 9:27. We thank God for each day that we live, but being alive should be a clear reminder that we have a destiny appointment awaiting each of us - DEATH. We should prepare ourselves adequately for this divine appointment in the same way that we prepare for any other appointment. It is in this regard that CIC Insurance Group Limited has come up with a simple and affordable product to take care of our final expenses and those of our loved ones. The church funeral cover is specifically designed and tailored to offload the burden of harambees, and save the church from inconveniencing and time consuming funeral committees. We welcome churches and church groups to take advantage of this product to prepare adequately ourselves for the divine appointment. ANNUAL PREMIUM PER PERSON Benefit Coverage (Kshs) Per Member Band of Member 20,000 30,000 40,000 50, , , , , , , , , and above ,150 Premium rates are based on the size of a group/members band and benefit. Premium for children will be charged at 50% of the adult premium on the band selected by the group. (Children are aged between 6 months and 21 years and are not married) Benefits will be uniform per group i.e. selection of different benefits by a group is not allowed. ADMINISTRATION Churches will come as groups with the minimum number being 10 lives Each group will complete one proposal form and attach a list of members who have enrolled The cover is open to church workers and members Age limit is from 6 months and above ALL premiums will be paid upfront before the cover commences Review of premium will be done at each renewal CLAIM DOCUMENTS Fully documented claims will be settled in 48 hours. The following documents are required for a claim to be settled: Burial Permit/obituary notice Claim form Copy of identity card - ID Child (copy of ID of parent)

14 CIC UNIT TRUSTS CIC Money Market Fund CIC Fixed Income Fund CIC Balanced Fund CIC Equity Fund

15 CIC UNIT TRUSTS A unit trust is a unique and excellent way to accumulate wealth through a pool of savings by unit holders (members) that is invested by professionals in selected shares, cash and interest bearing instruments. Benefits of investing in a unit trust Investors can buy stocks, shares and other securities independently. But unit trusts give investors the following advantages: Professional fund management - prospective investors benefit from expertise of our seasoned professionals Diversification - diverse investing mitigates market risks Choice - there are various unit trusts to choose from, namely Equity Fund, Balanced Fund, Fixed Income Fund and the Money Market Fund. Easy access - you can easily convert unit trusts to cash Flexibility - you can switch or transfer funds between the various funds Cost effective - a simple and effective way of investing small amounts Disciplined investing - systematic investing pays back Higher returns - potential to deliver excellent returns (inflation beating) Low cost of investments - due to the large amount of funds that the fund manager manages, very low costs accrued per investor Returns on the Money Market Fund. Returns consist of interest and are credited monthly into the investor s account. It is recommended that the interest be reinvested into the fund so as to maximize return on investment through compounded growth. This is an ideal product for clients with a short term investment horizon. The current rate of return is 11.72% and will move with market dynamics. CIC endeavors to invest prudently and negotiate competitively to give its customers the best rates possible in the market taking investor s security of their investment into consideration. The above annexure is an illustration of how an investment into the CIC Money Market fund can perform for a one-year period, assuming different initial investments at an annual effective rate of 11.72% p.a. Fees Minimum investment amount is Kshs. 5,000. Minimum additional amount is Kshs. 1,000. There is no initial fee charged on the Money Market Fund. Access to your money is when required with a short notice of 5 working days. Monthly statement is sent. CIC Money Market Fund The CIC Money Market fund is a low-risk fund which invests in diversified near cash, interest bearing instruments in the Kenyan market. The fund managers invest in high quality interest bearing investments, fixed deposits, and near cash holdings. This fund is: Conservative. For the investor looking for a safe parking place for their funds and with a low risk appetite preservation of capital. Ideal during times of stock market turbulence.

16 BRANCH NETWORK NAIROBI BRANCHES: Town Office Reinsurance Plaza Mezzanine Floor, Aga Khan Walk Mobile: / /1 Tel: (020) Buru Buru Branch Vision Place, Ground Floor Mumias Road Mobile: , Tel: (020) Westlands Branch Pamstech House 2nd Floor, Woodvale Grove Mobile: THIKA BRANCH Thika Arcade, 6th Floor Kenyatta Highway Mobile: Tel: (067) KITENGELA BRANCH Capital Center, 2nd Floor Mobile: NANYUKI Pearl Place, 1st Floor Mobile: NAIVASHA BRANCH Eagle Center, 1st Floor Mobile: NYAHURURU BRANCH Kimwa Centre, 2nd Floor Kenyatta Avenue Tel: (065) MACHAKOS BRANCH Imani Plaza (ABC Building) 3rd Floor Tel: (044) / 0367 machakosbranch@cic.co.ke KIAMBU BRANCH Bishop Magua Hse, 4th Floor Mobile: Tel: (066) kiambu@cic.co.ke NYERI BRANCH Co-operative Union Building 3rd Floor, Mobile: Tel: (061) nyeri@cic.co.ke NAKURU BRANCH Mache Plaza, 2nd Floor Geoffrey Kamau Road Tel: (051) / 6035 nakuru@cic.co.ke KISUMU BRANCH Wedco Centre, Mezzanine Floor Oginga Odinga Road Tel: (057) kisumu@cic.co.ke HOMABAY Cold Springs Plaza, Ground Floor Mobile: homabay@cic.co.ke EMBU BRANCH Sparko Building, 3rd Floor opposite Consolidated Bank Tel: (068) / 1127 embu@cic.co.ke MERU BRANCH Bhatt Building, 1st Floor Ghana Street Tel: (064) / 0869 meru@cic.co.ke KAKAMEGA BRANCH Walia s Centre, Ground Floor Tel: (056) / 0850 kakamega@cic.co.ke ELDORET BRANCH Co-operative Building, 1st Floor Mobile: Tel: (053) eldoret@cic.co.ke KISII BRANCH Magsons Plaza, 2nd Floor Mobile: Tel: (058) / 0232 kisii@cic.co.ke BUNGOMA BRANCH Teachers Sacco Plaza 3rd Floor, Hospital Road Tel: (055) bungomabranch@cic.co.ke KERICHO BRANCH Kipsigis Teachers SACCO Building, Ground Floor Tel: (052) kericho@cic.co.ke KILIFI Kilifi Complex, 2nd Floor Mobile: kilifi@cic.co.ke MOMBASA BRANCH DL Furniture Plaza 1st Floor, Nkrumah Road Tel: (041) / 0454 mombasa@cic.co.ke CIC INSURANCE GROUP LTD. CIC PLAZA MARA ROAD, UPPERHILL P.O. BOX NAIROBI, KENYA , callc@cic.co.ke CICinsurance CICinsurance CICinsurance KENYA SOUTH SUDAN UGANDA MALAWI GENERAL LIFE HEALTH ASSET