Insurance Risk Fund Print
Written by Administrator   
Wednesday, 24 February 2016 08:34

 Insurance Risk Fund

During the Annual General Meeting of 26th April 2014, the members Resolved that with effect from 1st January, 2015 each member will contribute KES 1,200/- annually towards the repayment of the insurance premium for both the Deposits and the Loans.

Benefits of the Scheme
The main purpose of the above premium is to cover both the loan and the deposits in case of the demise of a member.
  1. The outstanding loan balance will be paid by the Insurance Company
  2. The next of Kin will be paid an equivalent 200% of the deceased member's deposits 
(i.e.double the deposits amount accumulated as at the time of berevement) plus a last expense fee of KES 50,000.

Premium Payments Options

The members have the following payments options:
  1. Annual Debit of KES 1200 on members account
  2. Pay KES 1200, thro any of the payment options and explicitly describe that it is meant for insurance premium

Payment Methods 

  1. Cheque
  2. Mpesa Paybill 540700>Membership number + Insurance eg. MHS12345INSUR, 
  3. Airtel Paybill>other>Mhasibu>Reference - Membership number + Insurance eg. MHS12345INSUR
  4. COOP BANK|University Way Branch|A/C: 01120040136100
  5. CBA|Mama Ngina|A/C : 6435220015

Last Updated on Wednesday, 24 February 2016 09:18