Fanaka is an endowment policy which provides the policyholder with a disciplined savings plan ranging from planned savings for business capital, home upgrading, purchase of land among others.
Benefits
- Policy loan
- Tax relief (15% of B.P.)
- 30-day free-look period
- Minimum of 4.5 interest per annum
Features
- Entry age (ANB): 18-65 years
- Maximum maturity age: 70 years
- Minimum sum assured: Kshs. 350,000
- Cash value: 5-10 year terms, after 5 years and 11-20 year terms, after 3 years
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