One of the most important things in life is to leave an inheritance to the next of kin, mostly children.
In the largely poor world, most people depend on life insurance whose premiums are cheap, to reach this dream.
The downside however has been that most of us have heard that story where an insurance firm has refused to honour its obligation.
A man in Kisii County is accusing Britam Insurance of colluding with his father in law to deny him his daughter’s wishes.
“My late wife had a education investment policy with Britam insurance. She passed on. The policy is supposed to pay my son and myself as benefactors. My father in-law has stopped the payment, claiming to be the guardian of my kids, has gone to court in order to get an order so that to get paid. Britam (Kisii branch) is siding with him. I guess he has bribed those guys at the branch, hence they are actually advising him now. Very poor corporate governance. In Kisii magistrate court, you can get any order as long as you can pay!”, he wrote.
Is this possible?
According to an email seen by cnyakundi.com, the insurance firm says the matter is ‘waiting actioning’, however, going by the amount of time that has passed, it appears there’s a sinister motive.
Ideally, Insurance claims are paid at maturity as per policy document contract or when one dies abruptly by natural causes as per contract and sum assured.
Insurance in Kenya has a penetration rate of below 5 per cent due to such cases as highlighted above.
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