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Akiba Ya Maisha

Akiba ya Maisha provides a mechanism to save for a future event and to get life cover, which is payable to the nominated dependant(s).

If you pass away, the value of your investment fund under the policy and the sum assured per the cover you’ve chosen will be paid out.

Product Benefits

  • The minimum savings is Tshs 15,000 per month with no maximum savings.
  • This policy carries no HIV/aids exclusion.
  • Minimum term is 5 years; maximum term is 20 years.
  • Minimum entry age is 18; maximum entry age is 59; cover ceases at age 65.
  • The person covered does not need to go for a medical examination for the policy to be issued.
  • Life cover options of Tshs 3,500,000/=, Tshs 4,000,000/=, Tsh 5,000,000/=,Tshs 10,000,000/= or Tshs 15,000,000/=.
  • Inflation protection options: 5%, 10%, or 15%.
  • If the premiums have been discontinued they may be reinstated within two months from the date of discontinuance. The company will reinstate all benefits in full provided that all arrear premiums are paid in full.
  • When the policy has acquired a cash value the main member may decide to stop paying premiums and convert the policy to a paid-up policy. The value of the investment fund (including all interest earned) is payable on maturity. If you choose to take the money before maturity, the policy needs to be surrendered and the relevant penalties will apply.
  • A withdrawal is allowed once per year during the term of the policy to a maximum of 50% of the fund value after two years of contributions.

Benefit Schedule

The schedule below indicates the benefit amount the beneficiary will receive, should you pass away.

Options Benefits (Tshs)
Option 1 3 500 000
Option 2 4 000 000
Option 3 5 000 000
Option 4 10 000 000
Option 5 15 000 000

Who Can Be Covered?

The people that are covered and insured under this policy are the people whose names appear on the application form or in the policy schedule or in any endorsement as follows:

  • The main member
  • The chosen beneficiary

An insurable interest must exist between the main member and the chosen beneficiary.


Claims can be made at any branch of Sanlam Life Insurance during normal working hours. Claims must be reported within one year from the date of death of the policyholder.

The following documents should be provided:

  1. Policy Document
  2. Certified copy of Claimant’s ID
  3. Certified copy of Claimant’s Burial Permit/ Death certificate
  4. Police Report (only if cause of death is indicated as crime related or accidental)
  5. Completed claim form (available from any Sanlam Life Insurance branch or can be downloaded from the download section below)

Download Forms

Akiba ya Maisha Application Form
Akiba ya Maisha Claim Form
Sanlam Life Insurance is a licensed financial service provider.
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