Annuities
An Annuity is an arrangement whereby Insurance Company of East Africa Limited, in exchange for purchase price/money, enters into an agreement to pay a set amount of money (the Annuity) every year while the annuitant (the person on whose life the contract depends) is still alive. The common name for an annuity is Pension.
Payments can be made on monthly, quarterly, tri-annual, semi-annual or annual in-advance installments at the option of the Annuitant. The type of installment chosen can be flat, or augmented at any point or annually escalated.
The following Annuity types are currently available from Insurance Company of East Africa Ltd.;
Guaranteed Annuities
- Single Life Guaranteed Annuity
- Joint Life Last Survivor Annuity
- Reversionary Annuities
Temporary Annuities
- Annuity Certain
- Orphan’s Pension
- Widow/er’s Pension
Deferred Annuities.
Why Purchase Annuities From ICEA?
Provides very competitive annuity payments;
Runs 90% of Annuity contracts in Kenya;
We have been in this business for over 45 years.
Highly capitalized, steadily growing and stable;
Efficiency in settlement of claims;
Highly computerized and gives the best turn around period on payments;
Reputation in the market for efficiency and best practice;
Invests funds in accordance with the law (Insurance Act); and
Has a well diversified portfolio.
