Micro Insurance Policy Offered by Faulu Microfinance Bank Limited:

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Finances in Kenya especially for the unemployed or underemployed could be a major challenge when it comes to its use. Money may be scarce and therefore require proper budget before on how it is to be spend. However, in the world today, there are different organizations which has offered to provide the needy with some loans and microfinances for them to be able to set small businesses which will in the long run benefit them as well as the society.

Faulu Microfinance Bank Limited is one of these institutions which is a duly liability company incorporated in Kenya to provide loans and other related services to their clients. From its establishment, Faulu has been able to offer other banking services to the active poor through a variety of Savings, Credit, Micro insurance and Mobile Banking solutions.

From their experience, they understand that good health is one of the most important and crucial aspect that the people may and should have access to for their general success. They have therefore established an insurance policy based on health that the people may be able to cover themselves from the medical expenses, bills and many more expenses on medication in case them or their spouses, children, loved one fall sick unexpected. They ensure that this policy is provided under the best environment and is cost-effective as it expect to cover all the members that will have interest in it.

Since the Micro insurance policy is offered under the Faulu Microfinance Bank services, there are some requirements that need to be met for the applicants to be granted the access and that they can begin to contribute to the monthly premiums. Their insurance policy provide a comprehensive health care insurance plan for all family members against financial emergencies during illness, surgery and accidents.

Requirements for the Micro insurance policy

The eligibility is based on the fact the members should be holders of a saving or loan account in Faulu Kenya. Their Micro Insurance policy branded Faulu Afya Healthcare Insurance plan involve certain set criteria that should be met by the members and include that the member should duly complete and sign a Faulu Afya Application form available from all Faulu services Outlets, present recent passport size photographs, self and dependents, a copy of the National I.D for those of 18 years, full names of spouse to be covered as well as the full names of the children to be covered by this policy all of which should accompany the application form.

Features of the Micro Insurance Policy

The Faulu Afya Cover offers unlimited outpatient services and in patients limits of up to Ksh 200,000. As an insurance policy, there are several features that every insurance policy has to cover and therefore this is not exceptional. The Faulu Afya Cover ensure that all the expenses and damages encountered under this areas of health care and medicine are compensated for and the main features and benefits are that the premiums rates are affordable and custom-made for families, cater for unlimited outpatient services at selected hospitals and clinics, in-patient hospitalization services, accidental dental cover, accidental optical cover, road and evacuation services, life cover for the customers, funeral expenses, and cover chronic and pre-existing medical conditions as well no tests are required.

 

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