Saphumula Savings and Credit Co-operative Society

Insurance Covers

Burial Scheme

This is a funeral insurance cover, which is meant to cover/protect family members in the event of death so that members and or their families can be buried with dignity. The monthly premium is E 38.00 for a standard family of seven (7), i.e. member, spouse and five (5) children. Extended family members can be covered by paying an extra premium of E 20.00 per additional member as long as there is proof of relationship with the policyholder.

Credit Life Policy

This is a loan insurance cover, which is meant to cover/protect the member’s debts with the SACCO in the event of death or permanent disability. The monthly premium depends on the loan amount given to the member. Incase the member dies or become permanently disabled; thus rendering him/her un-employable the insurance cover will clear all the loan debts of the member provided he/she was up-to-date with the monthly debt repayment.

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