Rafiki Halisi Plan

Elimu bora ni msingi wa kufuzu kimaisha, lakini bei yake ni ghali na karo zinapanda kila kuchao. Rafiki Halisi Education Plan, ni njia rahisi ya kuwezesha watoto wako kupata elimu wanayo hitaji kujiendeleza kimaisha.

How it works:

  • Choose how much you want to invest – from KShs 1,000 up to KShs 6,500 per month.
  • Select your investment term: A minimum of ten (10) years up to a maximum of twenty (20) years.
  • Your premiums will enjoy tax relief up to the maximum permissible by law.
  • Your money is invested in the Fixed Income Fund.
  • Lock in period: This is three (3) years before you can access your funds. After the lock in period you may terminate your policy by cashing in the benefits you are entitled to.
  • No medical examination needed.
  • Bonus Cover! If you become disabled or die as a result of an accident, Old Mutual will pay your premiums for the next 10 years or until the end of the policy term whichever comes first. This also applies if you die from natural causes after the first three years.

Investment Benefits

Paid up benefit: If you stop paying your premium within the ten (10) year period your withdrawal value will be a percentage of your Accumulated Unit Fund. The Paid-up values are listed in the table below. Your maturity benefit will be 100% of your Accumulated Unit Fund at the end of the selected policy term.

Paid-up Values

Months

Description

Percentage of accumulated unit fund

0-12 Less than 12 months' worth of premium has been received 0%
13-24 Less than 24 months' worth of premium has been received 50%
25-48 Less than 48 months' worth of premium has been received 80%
49-119 Less than 119 months' worth of premium has been received 90%
120+ At least 120 months' worth of premium has been received 100%

Application Process

  • Complete an application form with the help of an Old Mutual Adviser.
  • Pay your first premium instalment using any of our easy payment options. If using M-Pesa ensure proof of payment by inserting M-Pesa payment confirmation number.
  • You will receive your contract document immediately.
  • There is a cooling off period of thirty (30) days from the day you are issued with the policy contract within which you can cancel your policy and premiums paid will be refunded.
  • A separate financial questionnaire will need to be completed with the help of a financial adviser for premium contributions of KShs 20,000 per month and above.

Payment Options

Premiums may be paid monthly, quarterly, semi-annually or annually. Your first and subsequent premiums are payable through the following options: M-Pesa, Zap, PostaPay, Cheque, Check-off, Direct Debit or Standing Order.

Please ensure you quote your policy number with each payment.

For more information on the Rafiki Halisi Education Plan please visit your nearest Old Mutual branch, send us an email or speak to your financial adviser.