Welcome to Bumaco Life
For Family Wealth Protection; Children Education; Security for your Future; Investment;
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You need life assurance
Life insurance for family protection, Education, Security, Investment, Saving and Bonus.
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YOU NEED LIFE INSURANCE
For Family Wealth Protection; Children Education; Security for your Future; Investment; Cash Value; Saving with Interest; and Wealth Planning and Sustainability"
Regardless of unfortunate life events that we may not be able to prevent such as death, sickness, inability to work, and old age, you can still organise your life and prepare for such. Life Insurance assists you in organizing your life journey through protection against unfortunate occasion such as death; save for your future and old age; and invest for your children's education. Life Insurance, unlike other savings schemes such as fixed accounts, provides protection. At Bumaco Life Insurance we listen and plan together to ensure that your life is protected, you have the adequate saving and investment.
We care for your life with compassion.
Our Products
Bumaco Life Insurance Company Limited offers the following products:
Group Credit Life Insurance
Credit life insurance is a policy that pays off a borrower's debt if they die or become permanently disabled during the loan term. The coverage amount decreases over time in proportion to the outstanding loan balance, reaching zero when the loan is fully repaid.
EDUCATION ANNUITY
Education plans are designed towards saving for the future of insured’s children education. The plans are customized based on the customers’ preferences. The premium depends on the sum assured, period of insurance, and the age of the insured.
Nuru Life Funeral Cover
Bumaco Life Insurance offers flexible funeral cover for individuals, families, and groups. The policy provides a choice of benefits payable upon the death of the policyholder, one legal spouse, up to two parents, or a maximum of four children.
NDOTO PLAN
The Ndoto Plan is a personal life insurance product that combines secure savings with investment growth. It allows individuals to save over a flexible period of 3 to 12 months, earning interest (riba) based on the amount saved and duration, making it both a protective and rewarding financial option.
GROUP ENDOWMENT ASSURANCE POLICY
This is a savings-based insurance plan that provides a payout on a member’s death or retirement. If the member survives to retirement, they can receive either a lump sum or a monthly pension. Premiums are fixed and age-based, calculated to ensure the required amount is available at retirement, including any applicable bonuses.
GROUP TERM ASSURANCE PLAN
This plan is designed for groups with a common purpose, providing individual coverage limits or sums assured for each member, as specified in the policy schedule. It offers death benefits in the event of a member’s death, typically based on a multiple of their annual salary.
MKAKATI PLAN
Mkakati Plan is a life insurance product tailored for individuals looking to build savings gradually while securing themselves against financial emergencies. The plan is designed to help clients save small amounts over time toward either long-term or short-term goals.
MAFAO YA UZEENI
Bima ya Mafao Uzeeni is a life insurance product designed to provide individuals with a reliable income during retirement especially during the phase of life when one is no longer actively working or generating steady income. Through regular monthly contributions, the insured (Mkatabima) builds a personal pension fund that matures at the end of the policy term.
Endowment Life Insurance Plan
An Endowment Life Insurance Plan is a type of life insurance policy that combines life cover with savings or investment benefits. It’s designed to pay out a lump sum either on the death of the insured during the policy term or on maturity of the policy (if the insured survives the term).
MALENGO PLAN
MALENGO PLAN is a life insurance policy offered by BUMACO Life Insurance, designed to help individuals, groups, and organizations plan and secure their financial future. This policy supports saving for both short-term and long-term goals and provides a financial safety net during emergencies.
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