SunAfrica Insurance Agency

SunAfrica Insurance Agency Sun Africa Insurance Agency is a risk and insurance consultant, we sell insurance products tailored

11/07/2020

When it comes to insurance, it’s a tug of war. You need to insure yourself against financial calamity. The insurance industry, on the other hand, wants you to insure against even the slightest inconvenience, because that’s how insurers make the most money.

But if you buy enough insurance to protect against inconvenience rather than calamity, you’ll create a calamity trying to pay for all your insurance.

This step-by-step guide is about paying as little as possible for car insurance, while still maintaining enough coverage. Many of the things you’ll learn here will also apply to other insurance policies you’ll encounter, from home and health to life.

07/07/2020

Are you a first time life insurance buyer? Have any questions about investing? Hit Like & tell in the comment box below!

16/05/2020

LIFE INSURANCE CLAIMS 101.

Death claims under life insurance :

1.Natural death claim.
2.Accidental death claim.

Natural death claim awarded if the cause of death is from ailments /sickness.

Accidental death claim is awarded if death occurred out of an accident or ailment directly CAUSED by accident.

Warranties/Exclusions :
1.Self inflicted injury.
2.Suicide and Hang sentence. (within the first 2years).
3.Death or injury arising from drug or alcohol abuse.
4.Death during child birth or pregnancy.
5.Death as a result of War/revolution.
6.Engaging in high risk sports like sky diving,Polo,Motor racing etc.
7.Killed by mob or police while engaging in crime.

NB... Cause of death, CAUSA PROXIMA (the Dominant cause) will have to be first ascertained,and will play a major role in determining the claim.

01/05/2020

Standard Fire and Special Perils Policy

Standard Fire and Special Perils Insurance is a traditional cover that offers cover against fire and allied perils which are named in the policy.

The policy can cover building (including plinth and foundation), plant and machinery, stocks, furniture, fixtures and fittings and other contents.

11/03/2020

Medical insurance, an essential life management tool.

04/03/2020

The coronavirus is crushing business. Could insurance lessen the blow?
Insurers are slowly adapting to the reality of more epidemics—but do businesses have the same foresight?

13/02/2020

Q&A
-Understanding your car insurance excess-

QUESTION: What's the "excess" on my private or commercial car insurance mean and what does
it cover?

ANSWER: We have recently been fielding questions around the private and commercial motor vehicle insurance increases in premium and in some instances, increases in excesses.

Why do insurers charge an excess?

An insurance company charges an excess to minimize small claims, reduce the number of fraudulent claims and reduce administration charges. In most cases, insurance companies won’t require you to pay the excess if the accident was not your fault, and you are able to identify the at-fault driver.

It’s important to note that there is no universal excess applicable for all drivers. Depending on your situation, a number of different excesses may be applicable for your insurance policy:

Standard/basic excess: This is the amount you are required to pay for any claims made, agreed upon when establishing your policy and can apply both by itself as well as with an additional type of excess.

Age excess: An age excess applies when you have a driver under the age of 25 noted on your policy.

Inexperienced driver excess: This excess applies if the driver is over 25 but has held an Australian licence for less than two years.

Undisclosed/undeclared driver excess: This excess is payable in addition to the basic excess and age excess if you are not noted as a driver on the policy and you are under age 25.

A number of insurance companies allow you to increase your excess amount in order to reduce your premium. Although this may be beneficial to what you are paying now it’s wise to take into consideration the excess information above - how much will your excesses add up to and can you afford to pay this all in one lump sum in the event of an at fault claim?

For more guidance, talk to Sun Africa Insurance Agency.

13/02/2020

Investment Tools - 2

TAX HAVEN

It's an offshore country that offers limited or less tax liability to foreign individuals, corporates and businesses in an environment that enjoys relative stability socially, politically and economically. Most tax havens are not obligated by local or international laws to share any transactional information with other tax authorities.

Besides the transactional secrecy they provide, most monied individuals, corporates and pension funds prefer tax havens due to one major reason - they do not require residency or business presence. Hence, such countries gain most by drawing from relatively huge financial inflows by investors, who in turn reap from their tax relaxed policies

[Historically], in Africa, most dictators, [their] monied cronies, families, friends and associates have been known to plunder billions of dollars and stash in such tax haven countries as Switzerland, Andorra, the Bahamas, Belize, Bermuda, British Virgin Islands, the Channel Islands, Cook Islands, Hong Kong, The Isle of Man, Mauritius, Lichtenstein, Monaco, Panama, Cayman Islands, Jersey Islands, etc.

One classic example is that of Sani Abacha. In his brief stint as President of Nigeria, he single handedly stashed away in various tax havens, over USD 5B - Kshs 500B!

**********
1. Please notice the clear spelling difference! - It is haven NOT heaven!
2. Offshore means, abroad - beyond the shores of your country of birth!

Now you know!

12/02/2020

Dear drivers please drive safely ...
1. Make sure you can see and be seen.
2. Watch for blind corners especially on unfamiliar roads.
3. No overtaking on such corners or on yellow continuous lines.
4. Make use of your rear view mirrors before changing lanes or overtaking.
5. Stick to your lane at all times.
6. Take rest if you feel fatigued or experience the slightest feeling of drowsiness.
7. Don't drink and drive.
8. Avoid carrying passengers or goods beyond the vehicles capacity.
9. Watch out for road signs.
10. Be ready to give way where necessary.
11. Observe the speed limits.
12.Your safety starts with you.

Have a great safe day on the roads.

08/02/2020

Investment Tools - 1

HEDGE FUND(S)

It is a pool of money contributed by a group of investors. It's [mostly] run by a fund manager. The ultimate goal of such a fund is to maximize investors returns on investment (ROI) and minimize risks.

Regardless of the structure, the hedge fund is operated by a manager who invests the money into different assets [portfolios] to achieve investor's objectives.

In Africa, most of these funds are offshore and are formed like a typical private limited partnerships that engage in speculation using short term credit or borrowed capital.....

Now you know.

03/02/2020

Some of the life products that I recommend highly include the Stawika Sure from the Monarch Insurance, The money back from Britam and all education packages across the industry.

03/02/2020

Want to Get a reliable and Cost Effective Motor Insurance Cover ? Contact us today.
✅Compare before you buy and save Big on your Motor Insurance by getting the right insurance
✅Ensure you are always safe on the road.
✅ Get same-day delivery within Nairobi and its environs.

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Wabera Street
Nairobi

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