Group life plans are also used to provide cover to redeem the outstanding loan balances in the event of premature death or disability of the borrower. This cover can be renewed every year (annually renewable) or provided at the onset of the loan agreement for the entire term of the loan (single premium option). All lenders with a minimum of 10 borrowers including financial institutions and Sacco’s qualify for this cover.

Mortgage Protection:

Group life schemes offer mortgage protection arranged on a yearly renewable or single premium basis for lenders to specifically protect the families of the deceased mortgagor from the risk of the lender reselling their home in the event of the untimely death or disability of the breadwinner. This cover provides the same benefit as for credit life.


As time passes, the family financial needs change with different needs. Education costs, Further Education e.g. MBA, Raising Children, Starting a Business or even Planning for Retirement. With the Monarch Insurance Stawika Policy, the premium remains the same across the duration of policy while the sum assured increases proportionately throughout the policy period. With the Monarch Insurance Stawika policy, you can save and watch your money grow for the future

Key Benefits

  1. Low premiums for higher financial benefits
  2. Constant premiums which assure you easier payments in future
  3. Payment in case of death or disability for the insured
  4. Optional policy term from 8-18years
  5. Optional maturity benefits payments

Maturity Benefits Options

  1. Lumpsum
  2. Staggered Benefit Options
    • 3 Year Payout
    • 4 Year Payout
    • 6 Year Payout
    • 8 Year Payout
    • 9 Year Payout

Protection Benefits

  1. Death of the Contingent Beneficiary (Child)
    • Lumpsum Payout (After the payment term)
    • Nominate another Child
  2. Death of the Policy Owner
    • 100% of The Sum Assured Payable Immediately
    • 100% Waiver of Future Premiums

Rider Benefits

  • Funeral Cash Benefit
  • Critical Illness Benefit