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PRUTerm

The handy insurance cover

Product Features

PRUTerm is a life protection plan meaning your loved ones get to receive a lump sum payout in the event you lose your life, when you get diagnosed with a critical illness or when you suffer a total and permanent disability resulting from an incident between a specified period of time.

  • Lump sum amount paid at the end of the policy term ranges from Ksh.1M to Ksh. 80M
  • Minimum eligible age is 18 years and maximum is 60 years
  • Offers you the option to cover your spouse in addition to yourself.
  • You may choose to pay premiums between 5 and 25 years provided the policy ends at the age of 75 years or choose a shorter term of 1 year for business policies.
  • The premium payment frequency for 5 to 25 years term policies can be monthly, quarterly, semi-annually, or annually. Short term policies of 1 year are paid annually.

Product Benefits

Affordable Cover
Affordable Cover

For individuals/couples or business partners.

Create an immediate
                                    estate for your dependents
Create an immediate estate for your dependents

When purchased as an individual cover.

Key person protection
Key person protection

Can be assigned to a business for key-person protection or to a lender as loan protection, for cover on death or permanent and total disability.

Offset financial strain
Offset financial strain

Provides an option to help offset financial strain in the event of a first-time diagnosis of a critical illness defined in the policy.

Learn more

  • PRUTerm Uniqueness

    Here’s what makes the cover unique:

    Death benefit
    • Your family and beneficiaries will receive the full 100% benefit, a lump sum amount of money, upon your passing on due to natural causes, a diagnosis of a critical illness or due to an accident.
    • If you have added your spouse to the cover, then full benefit will be paid to your family and beneficiaries upon the first passing on of either yourself or your spouse. No benefit will be paid upon the second death.
    • The lump sum payment upon death of the assured will not be paid if there was already a settled claim on total and permanent disability on the cover.
    • The cover will become inactive from settlement of either a death claim or a total and permanent disability, whichever comes first.
    Total Permanent Disability
    • You will receive the full 100% benefit, a lump sum amount of money, upon confirmation of permanent and total disability resulting from accident or sickness (subject to the waiting period).
    • If you have added your spouse to the cover, then full benefit will be paid upon the first total and permanent disability.No benefit will be paid upon the second disability.
    • The cover will become inactive from settlement of a total and permanent disability claim, so no benefit will be paid upon death of the assured.
  • Cover Details
    PLAN A (Long Term)PLAN B (Short Term)
    Age Eligibility
    • Minimum entry age: 18 years
    • Maximum entry age: 60
    • Maximum maturity age: 75 years
    • Maximum maturity age: 65 years for CI rider
    • Minimum entry age: 18 years
    • Maximum entry age: 60
    • Maximum maturity age: 65 years for CI rider
    Premium Payment Frequency
    • Monthly
    • Quarterly
    • Semi-Annual
    • Annual
    • Annual
    Term
    • Minimum Term: 5 years
    • Maximum Term: 25 year
    • 1-year policy only
    PremiumConstantChanges annually at renewal based on age or sum assured
  • Optional Benefits (Riders)
    Critical Illness benefit
    • This benefit helps in taking care of your medical bills in case you are diagnosed with a critical illness before attaining the age of 65 years, the benefit is paid out immediately after the diagnosis.
    • You can choose how much you would want to receive upon a diagnosis of a critical illness; the minimum amount is Ksh. 1M and the maximum is Ksh. 15M
    • The critical illness benefit amount chosen should be 50% or less of the main life policy benefit amount
    • The Critical Illness benefit is only payable for critical illnesses listed in the policy terms and conditions
    • A critical illness claim that satisfies the listed conditions in the policy, will only be paid if the insured survives a period of fourteen days from the date of diagnosis of the condition
    • Settlement of a critical illness claim automatically terminates the benefit since it can only be claimed once during the policy term. The premiums for the basic cover will be waived but premiums for the accidental death benefit must continue to be paid if the option had been selected.
    • The main life policy will continue to be in force as per the original policy terms
    Accidental Death benefit
    • You can choose how much your family and beneficiaries will receive upon your passing on after an accident; the minimum amount is Ksh. 1M and the maximum is Ksh. 20M
    • You will receive an additional full 100% benefit, a lump sum amount of money, upon your passing on due to an accident.
    • If you have added your spouse to the cover, then full benefit will be paid upon the first death of either yours or your spouse..No benefit will be paid upon the second death.
    • The cover will become inactive from settlement of a total and permanent disability claim, so no benefit will be paid upon death of the assured.
    • The policy will terminate on payment of a death benefit
    • If the policy has been assigned, the benefit will be paid to the person(s) to whom the policy has been assigned
  • Waiting Period

    There is a waiting period of 6 months;

    • Six (6) months for critical illness, death, and total and permanent disability claims arising from natural causes
    • The waiting period will also apply from the reinstatement date of the policy
    • No waiting period for Plan B on renewals made within one (1) month of the expiry of the cover
    • Only claims arising from accidental causes will be payable during the waiting period
  • Claim Documentation
    • When the cover is starting or when it is being reinstated.
    • Death and total and permanent disability claims resulting from natural causes or a diagnosis of a critical illness before 6 months will not be paid.
    • For plan B, the short term cover, the waiting period is waived on renewals made within one (1) month of expiry of cover.
    • Only claims arising from accidental causes will be payable during the waiting period.
    Death Claim Documentation
    • A certified copy of the customer’s ID
    • A duly completed claim form
    • In the case of accidental death: An original or certified copy of the burial permit, death certificate and a police abstract report.
    • In the case of death by illness:
    • An original or certified copy of the burial permit, death certificate and a medical report.
    Total and Permanent Disability Claim Documentation
    • A certified copy of the customer’s ID
    • A duly completed claim form
    • In the case of disability caused by illness: a medical report is required.
    • In the case of disability caused by an accident: a police abstract report and a medical report are required.
    • All disability claims must be submitted within 180-days of the date the claim event occurs
  • Exclusions

    The following is a list of exclusions, meaning, any claim that arises from the occurrences below will not be paid.

    • Suicide, attempted suicide or any self-inflicted injury whether the life assured is sane or insane at the time and if it occurs within two years from the commencement of the policy.
    • Any act committed by the policyholder, the life assured, or beneficiaries that constitute a violation of criminal law.
    • Abuse of alcohol, wilful inhalation of gas, self-inflicted injury, wilful exposure to radioactivity, or the wilful consumption of poison or overdose of drugs (whether the drugs have been prescribed by a medical practitioner or not).
    • With the exception of those deployed by the disciplined forces of the Republic of Kenya, any act of war (whether war be declared or not), military action, terrorist activities, riots, strikes, civil commotion, or insurrection in all cases as an active participant.
    • Active participation in mountaineering, horse riding, hunting, motor racing, power-boat racing, or fighting (except in self-defence).
    • Participation in any form of aviation other than a scheduled air service over an established passenger route.
    • Any medical condition not disclosed prior to the issuance of the policy, for which treatment was received or recommended by a medical practitioner or of which the life assured was aware of prior to the date of declaration of the policy.
    • Critical illness claims arising from conditions not listed in the policy.
    • Death caused by natural causes and critical illness claims; occurring within six months from the date the policy starts or from the date the policy benefits are increased or from the policy reinstatement date.
  • Important notes
    • Medical underwriting will be required if your chosen lump sum benefit is above Kshs. 5M.
    • Prudential will meet the costs of all medical examinations required for chosen lump sum benefit of above Kshs. 5M.
    • Costs for voluntary medical examinations for chosen lump sum benefit of below Kshs. 5M. will be at the client’s expense
    • Premiums are based on the age in years at issue and for long term policies, remain level throughout the policy term
    • Premiums for short-term (1-year) policies may vary at the anniversary due to age or changes in the amount of the lump sum benefit.
    • A customer
    • may choose to amend the premium frequency but only at the anniversary of the policy
    • Premiums paid on either quarterly, semi-annual or annual basis attract discounts
    • A policy fee of Kshs. 50 per month is levied on the premium payable. This will amount to Ksh. 150, Ksh. 300 or Ksh. 600 if premiums are paid quarterly, semi-annually or annually respectively.

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