Hazina Policy is an innovative and flexible life insurance solution which is structured to suit the financial needs and challenges of today.Hazina offers you flexibility in terms of how much premium to pay, when to pay,the level of life cover suitable at a particular point in time and premium holiday all within the same policy.This will ensure you can respond appropriately to inflation,high interest rates and individual economic circumstances.

Hazina allows you to save your money and protect your loved ones while watching your funds grow over the years. The Policy Value increases steadily from the start of the policy as premium are paid while the Life Cover Benefit remains constant. In the unfortunate event of death of life assured, both the life cover benefit and the accumulated policy value will be paid to the named beneficiaries.


Product Summary

Hazina Product has two variants:

  • Variant 1 – Hazina Bora
  • Variant 2 – Hazina with Lien Option

Hazina Bora
Hazina Bora suits customers who are willing to go for medical examination.
Medical examination is required for customers with a Sum assured exceeding 2Million.

Hazina With Lien Option
Hazina with Lien gives the client an option not to go for medical tests. In short all medical tests are waived. The maximum sum assured per life shall be sh.1OM. The client will therefore be required to duly complete a lien form.

Death Benefits
Death of Policyholder during policy term – On death of the main policyholder due to Natural or Accidental causes during the policy period,the Policy will pay the full sum assured.

Other Features

  • Flexibility – Hazina allows you to decide how much life Insurance you need and subject to certain requirements and limitations, you may adjust the death benefit and the premium payments over the term of your policy to fit your changing circumstances.
  • Savings – Along with providing a death benefit, Hazina also incorporates a savings vehicle.
  • Policy Loans – You may choose to apply for a policy loan against the policy value at competitive interest rates. This ensures the policy value remains intact.
  • Partial withdrawals – One partial withdrawal can be made in each policy year without incurring any administrative fee.
  • Premium holiday – In times of economic hardship you may temporarily suspend premium payment and continue enjoying cover out of the accumulated policy value.
  • Inflation Beater – Hazina allows you to escalate/increase premiums every year by a certain percentage, say at 5 %, 7.5%, 10%, 12.5% and 15%. Escalation option is taken to beat inflation and has the effect of increasing the units and ultimately the accumulated policy value at maturity.