This is a credit facility that enables the member to pay the insurance premium in easy installments. It covers a range of policies from an asset such as CIC health cover motor vehicle, business premises or even homes. The SACCO will finance insurance premiums in affordable monthly installments instead of the member paying one large annual premium.
- The loan amount shall be based on the member’s ability to pay that will be determined by the member’s sources of income.
- The maximum amount for this facility will be Kshs 300,000
- The loans repayment period shall be between up to 12 months.