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Death Benefit to Financier
Death benefit (natural or accidental) payable to the institution for outstanding loan amount on customer death.
Solutions > Loan Guard & Credit Life Insurance (Sacco & MFI's)
Life Cover That Supports Loans You Disburse
Loan Guard is Group Credit Life Assurance — a yearly renewable or single premium contract taken by a financial institution, providing death benefits to the financier for customers who die while servicing loans. The aim is to alleviate finan
Outstanding Loan Cover
Death benefit equals loan balance
48-Hour Last Expense
Fast funeral benefit settlement
What is Loan Guard?
Loan Guard is Group Credit Life Assurance — a yearly renewable or single premium contract taken by a financial institution, providing death benefits to the financier for customers who die while servicing loans. The aim is to alleviate financial distress for SACCOs, MFIs and other financiers on the demise of loan customers, while protecting families from inheriting debt. Cover is worldwide and 24-hour, with last-expense claims settled within 48 hours.
Highlights
- Group Credit Life for SACCOs, MFIs and financial institutions — yearly renewable or single premium.
- Death benefit payable to the financier for outstanding loan amount on customer death.
- Worldwide, 24-hour cover for death from illness, natural or accidental causes.
- Optional riders: Critical Illness, Permanent Total Disability and Last Expense (extendable to dependants).
What is Covered and Not Covered Under Loan Guard & Credit Life Insurance (Sacco & MFI's)?
Toggle between the categories below to understand the comprehensive scope of our cover details.
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Worldwide 24-Hour Cover
Cover is worldwide and 24-hour for death from illness, natural or accidental causes.
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Yearly or Single Premium
Yearly renewable contract or single premium group credit life cover for financial institutions.
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Critical Illness Rider
Percentage of sum assured on first diagnosis of a defined critical illness condition.
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Permanent Total Disability
Lump sum benefit on permanent total disability — optional rider on additional premium.
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Last Expense / Funeral
Last expense benefit payable within 48 hours — extendable to dependants.
Eligibility & Documentation
Eligibility Criteria
Specifications
Who Qualifies
Financial institutions; members aged 18–65 servicing loans granted by the financier.
Documents
Completed group proposal form (signed and stamped), KRA PIN and customers census with outstanding loan amounts.
Cover Basis
Death benefit set as the outstanding loan amount — cover ceases on loan clearance.
Rating Basis
Group size, age profile, outstanding loan amounts, occupation and benefit design.
How to Buy APA Loan Guard?
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Complete the Group Credit Life proposal form with your institution and member census details.
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Provide KRA PIN and outstanding loan amounts for all covered members.
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Apply through an APA Life agent/broker or corporate desk (corporatebd@apalife.co.ke or 020 364 1000).
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Receive your group policy protecting your institution and loan customers.
Everything You Need, All in One Place
Access policy documents, claim forms, renewals, and important resources anytime.
Real Stories from Customers Who Trust Our Coverage
Learn why professionals trust our solutions to complete better customer journeys.
“Support became faster, clearer, and more consistent across every customer touchpoint. It changed how we interact with our clients.”
Nia Afolayan
Customer Expert
Chioma Nwosu
Customer Success
“The onboarding was smooth from day one, and our team saw measurable results quickly. It gave us a much faster customer journey.”
Jordan Mensah
Growth Manager
Daniel Okoro
Founder
“It helped us create a better customer journey without adding complexity for the team, keeping all departments aligned.”
Robert Hayes
Regional Partner
Frequently Asked Questions
A yearly renewable or single premium cover taken by a financial institution that pays a death benefit to the financier for customers who die while servicing loans granted to them.
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“The easiest way to manage my cover.”
— Sarah K., Nairobi
APA, Insuring Happiness
Manage Your Insurance on the Go
Experience the future of insurance management. Our mobile app provides a seamless digital curator experience for your policies, claims, and peace of mind.
APA, Insuring Happiness
What would you like to protect?
+
Health Insurance
+
Motor Insurance
+
Life Insurance
“The easiest way to manage my cover.”
— Sarah K., Nairobi
