Pioneer Assurance Company Limited is a registered insurance provider in Kenya, licensed by the Insurance Regulatory Authority (IRA) and the Retirement Benefits Authority (RBA) to administer retirement benefits schemes. We are an approved issuer with the mandate to hold and invest retirement benefits funds. Additionally, Pioneer Assurance is a recognized service provider authorized to receive and manage NSSF Tier II contributions under the NSSF Act No. 45 of 2013.
Group Funeral
It is a group policy that provides for funeral costs for departed members.
Features are:
- A benefit of a specified sum assured per member e.g. 10,000, 50,000, 100,000, 500,000 etc is payable in the event of an insured member’s death
- Waiting period- 3 months unless death occurs through accident for standalone policies
- Age 1 – 75 years ( though age may be negotiated)
- Annually renewable cover
- Minimum number of persons to be insured in a group may be fixed e.g 10 members for a standalone policy
- Claims paid within 48 hours of reporting & documentation
Group Last Expense (Heshima Plan)
Pioneer Assurance has a tailor-made Group Last Expense insurance cover that is meant for registered groups such as Corporates, Cooperatives, Welfare Groups, Micro Finance Institutions and SMEs that pays a benefit towards meeting, the funeral expenses of a member.
By arranging for the payment of a set sum upon the untimely passing of any scheme member, Pioneer’s Group Last Expense plan eases the burden of funeral arrangements and associated costs.
Group Credit Assurance
Group Credit comes in two forms:
- Group Credit Premium Guaranteed
- Group Credit Open
Group Credit Premium Guaranteed is a credit life policy designed for medium to large SACCOS who desire to pay a one-off premium at the beginning of the insurance period irrespective of the changes in the loan portfolio during the insurance period.
Group Credit Open insurance is a life policy designed for Banks and other corporate lenders who desire to place the cost of insurance on the borrower.
Under Group Credit Life Insurance, the lender is the policyholder and pays the premium.
Our Group Credit policy does not cover arrears or default on loan repayment
