Benevolent Fund/Last Respect
This fund provides for members a shoulder to lean on in times of misfortunes, especially in meeting funeral expenses for contributor and their immediate family members’ i.e. Spouse, children, father, mother and in-laws as declared by the member.
We want to thank you for attending our second Annual General meeting that took place on Monday 26th April, 2021 virtually.
During the AGM, members unanimously adopted the benevolent fund policy, thereby establishing the benevolent fund that is designed to protect supply chain practitioners and their families against life’s uncertainties and misfortunes (death).
This fund will help members to meet funeral expenses for the contributor and family member.
We have the following six options where one can choose from:
The premiums and benefits stand as below:
|Members||Option 1||Option 2||Option 3||Option 4||Option 5||Option 6|
|Parents in law(max2)||50,000||100,000||200,000||300,000||400,000||500,000|
- Maximum of six claims per year
- Siblings are treated as additional child. Provide proof of sibling being financially dependent on the contributor.
- The cover is 24 hours’ world-wide basis except members permanently outside Kenya
- Payment is done either monthly or annually.
In the event of a principal’s demise, the policy remains active with the spouse, principals Father, mother, Father in-law, mother in law, child as principal members in that order as long as the policy is active.
MINIMUM, MAXIMUM AGE/COVER CEASE AGE
|MEMBER||Minimum entry age||Maximum entry age||Cover cease age|
|Principal||18 years old||70 years||NO Cease age|
|Spouse||18 years old||70 years||NO Cease age|
|Children(Max4)||14 days old||24 years||25 years|
|Parents(Max2)||18 years old||80 years||NO Cease age|
|Parents in law(Max2)||18 years old||80 years||NO Cease age|
Waiting period is 60 days for natural death and no waiting period for accidental deaths.
REQUIREMENTS FOR JOINING
- Fill the benevolent fund application form
- Attach the mandatory documents: ID copy or birth certificate
- Pay non-refundable registration fee of ksh.200 for Sacco members and ksh.1200 for non-Sacco supply chain practitioners.
- Members who had ceased paying may be re-admitted by paying ksh.600 no refundable re-admission fee.
Claim processing: In the event of death which has been reported, Wanunuzi Sacco shall process the benefits within 48 hours after all documents have been received. The policy shall be for one year.
Duly filled application forms should be submitted through firstname.lastname@example.org