This is a list of products offered by Sanlam Insurance and its branches in Kenya. It is one of the 56 licensed insurance companies in Kenya by the Insurance Regulatory Authority. The company has been operating in Kenya since 1947. It was formerly known as Pan Africa Insurance. Sanlam offers life and general insurance products as listed below.
Sanlam Insurance Products
a) Individual products
1. Life Insurance
It offers assurance that your family/dependents are financially secure no matter what.
- FlexiEducator Plus – This product is designed to assist you to plan for your children’s education.
- Double accident benefit- In the event, the life assured dies or is permanently disabled due to an accident, a lump sum equal to the sum assured will be paid out which means the total payout will be 200% of sum assured.
- Critical illness benefit – If the life assured is diagnosed for the first time with any of the listed critical or terminal illnesses, the insured will be paid half the amount of the sum assured.
- FlexiAcademic Plus – This policy enables you to save to secure your child’s education. The policy entitles you to four equal annual payouts plus bonuses.
- FlexiSaver Plus- This product is designed to assist you to save for any event in the future. Apart from great savings, protection is key to critical illness, permanent total disability, and death. The policy terms are 12, 16, 20, and 24 years depending on your financial plan. Maturities are payable every four years based on the sum assured and policy term chosen
- Death benefit – On the death of the life assured caused by an accident or natural causes, 100% of the sum assured irrespective of partial benefits is paid out to the nominated beneficiaries.
- Double accident benefit- In the event, the life assured dies or is permanently disabled due to an accident, a lump sum equivalent to the sum assured will be paid out.
- Critical illness benefit – If the life assured is diagnosed for the first time with any of the listed critical or terminal illnesses, the insured will be paid half the amount of the sum assured.
- FlexiCash – Enable you to save for your investment goals i.e retirement, holiday, or even education.
- FlexiFamily- This policy provides protection to your family in the event you are dead. It pays out money whenever anyone among the covered relatives passes on. The paid amount is meant to cater for burial expenses.
2.Education Cover
This policy enables you to save for university or college education.
3. Motor Insurance
It covers any loss or damage by accidental means, such as theft, fire or malicious damage to your vehicle, and third-party liabilities like death, injuries, and property damage.
- Authorized repair limit – KSh 30 000/-
- Medical limit – KSh 30 000/-
- Towing charges – KSh 30 000/-
- Windscreen limit – KSh 30 000/-
- Vehicle entertainment system – KSh 30 000/-
- Accommodation away from home. Up to KSh 5 000/= and above charge 10% maximum limit KSh 10 000/=
- Loss of spare wheel and accessories. Up to KSh 7 500/= free. Above KSh7 500/= charge 10% of extra limit maximum limit – KSh 50 000/=
4. Home Insurance
It covers any accidental loss or damage to the insured property and its contents due to:
- Fire, lightning, thunderbolt, earthquake, volcanic eruption or subterranean fire, storm, tempest or flood
- Explosion of domestic appliances
- Riot and strike and malicious damage
- Aircraft and other aerial devices or articles dropped therefrom
- Bursting or overflowing of water tanks apparatus or pipes
It also provides cover for domestic employees and personal liability either as an owner or an occupier of the premises.
5. Investments
- Sanlam Pesa+ Money Market Fund – The Fund’s investment objective is capital preservation.
- Sanlam Chama+ Balanced Fund – This Fund is suitable for the medium-risk investor, who is seeking long term growth through dividends and capital gains from the investments.
- Sanlam Pata+ Dividend Plus Fund- This Fund pays out income quarterly.
b) Corporate Products
1. Life Insurance
FlexiPension
It enables you to build up a fund by making periodic contributions into a high yielding retirement fund administered by Sanlam. The minimum monthly contribution is KSh1 000. Upon retirement, a cash payment of 30% of the individual’s fund will be paid as a lump sum. The rest will be utilized to buy a monthly pension.
FlexiAnnuity
This is an arrangement whereby Sanlam, in exchange for the purchase price/money, enters into a contract to pay a set amount of money (the annuity) on agreed dates for life or an agreed term. It ensures that upon your retirement, an income for life or for a convenient number of years is streaming in.
Group Life Assurance
It is offered to employers for the benefit of family/dependents of an employee who dies in the line of duty, is permanently and totally disabled, temporarily disabled, and/or has a critical illness.
Group Mortgage
This policy is designed for organizations that offer mortgage finance to third parties, such as banks, building societies, micro-finance institutions, cooperative savings and credit societies, hire-purchase dealers. The policy guarantees to settle 100% of the outstanding loan in respect of a deceased member of the scheme or when a member becomes totally and permanently disabled by accident.
Group Credit Assurance
This policy is usually suitable for employees of banks, building societies, micro-finance institutions, cooperative savings and credit societies, hire- purchase dealers, and employers who offer credit facilities to their employees. The policy guarantees to settle 100% of the outstanding loan in respect of a deceased member of the scheme or when a member becomes totally and permanently disabled by accident to engage in any occupation for a wage or profit.
2. General Insurance
Medical Insurance
This policy helps to reduce the risk and unpredictability inherent in your organization’s cost of healthcare. The core plan is a fully insured inpatient scheme with optional riders of outpatient, dental, optical, maternity, group excess of loss, and last expense.
Burglary
It covers assets against loss or damage resulting from theft, housebreaking, or hold-up upon an actual forcible and violent entry of or exit from the premises.
All Risks
It covers loss of or damage to the property insured by Fire, Theft, or any Accidental means not excluded by the Policy.
Fidelity Guarantee
It provides indemnity against direct pecuniary loss resulting from fraud or dishonesty of employees.
Group Personal Accident
This policy offers compensation for death or disablement and medical expenses incurred in connection therewith, resulting from accidents on a 24 hours basis.
Product Liability
It provides cover against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.
Public liability
This policy indemnifies the insured against legal liability to third parties in respect of accidental death, bodily injury and/or illness and/or loss of or damage to property incurred in the course of the Insured’s business.
Marine
This policy covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
Construction All Risks
It provides cover for the cost of physical loss or damage to building works, advanced loss of revenue/income, public liability, installation, and constructional plant/machinery including hired-in plant and tools where you are responsible. It covers existing structures, temporary and permanent construction works plus materials should they be damaged or stolen prior to completion.
Electronic Equipment
It provides indemnity against sudden and unforeseen loss or damage to all the insured’s Electronic equipment as a result of any cause not specifically excluded by the policy. This includes loss or damaged by fire or theft and transit risks.
Plate Glass
It provides indemnity following accidental breakage of plate glass.
Work Injury Benefits (WIBA)
It provides cover against liability under the Work Injury Benefits Act in respect of accidental death, bodily injury, or illness/ disease to employees as declared arising out of and in the course of employment.
Employers liability
This policy indemnifies the insured in respect of death or injury to employees (including temporary and casual employees) arising out of and in the course of their employment at common law.
Goods in Transit
It covers goods owned by the insured in respect of loss or damage in the course of transit caused by fire, collision, and overturning of the conveying vehicle.
Money in Transit
This policy covers loss of money belonging to the insured or for which they are responsible in the situation specified and loss of or damage to safes in case of theft of money or attempt thereat.
Directors and Officers
It covers for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
Commercial Motor
It covers any loss or damage by accidental means, theft, fire, malicious damage to the vehicle, and Third-Party Liabilities (death, injuries, and property damage) in regards to commercial vehicles.
List of Sanlam Insurance Branches in Kenya
Sanlam Insurance Head Office
Location: Sanlam Tower 15th floor Off Waiyaki Way, Westlands
Contacts: +254 (0)20 278100, +254 (0)722 206 900
a) Life Insurance Offices
1. Sanlam Insurance Nairobi City Centre Branch
Location: Sanlam House, Kenyatta Avenue
Contact : +254202781217
2. Sanlam Insurance Nairobi Priority Branch
Location: Sanlam House, Kenyatta Avenue
Contact: +254202781339
3. Sanlam Insurance Thika Branch
Location: Thika Arcade
Contact : +254202781349
1. Mombasa
Location: Sanlam House Ground Floor Off Mikindani Road
Contact : 0719035117,115
Contact : 0719035253
3. Thika
Location: Thika Arcade 1st Floor Kenyatta Street
Contact: 0719035330,113
4. Nyeri
Location: Peak Business Centre 1st Floor Off Gakere Road
Contact : 0719035142,248
