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Frequently Asked Questions

About BimaNet

Questions we are frequently asked 🙂

How long has BimaNet been in existence?

The BimaNet business model was conceptualised in 2012 but operations begun in November 2016 after 4 years of extensive research by the leadership team.

Is BimaNet an insurance company?

BimaNet K Ltd is not an underwriter; It is an insurance intermediary that has repackaged insurance thereby making it more affordable, palatable and accessible to more Kenyans. Our underwriters/ Risk Carriers are Sanlam, CIC Insurance and UAP – Old Mutual.

How is BimaNet regulated by the government?

BimaNet is duly registered under the Companies Act of Kenya and we are regulated as an insurance intermediary by the Insurance Regulatory Authority (IRA).

How is BimaNet able to offer discounts of up to 75% and such value-for-money on their insurance benefits?

As an aggregator of lives, BimaNet utilizes a Group Life Assurance scheme that leverages on the power of numbers and its associated economies of scale to negotiate for Group Life benefits with tier 1 underwriters. In the past, such Group Life benefits were only accessible to affinity groups of 20 or more people and they are significantly cheaper to administer compared to retail/individual insurance. For the first time in Kenya, these discounts are now accessible to individuals and micro enterprises through the BimaNet platform. Furthermore, while retail/individual insurance premiums are age related, all BimaNet members between the ages of 18 and 75 years enjoy the privilege of paying the same rate for our bundled Life Insurance benefits.

Linda Fanaka Questions

Questions answered about Linda Fanaka

What is Linda Fanaka?

Linda Fanaka, is the most comprehensive, most affordable, no nonsense life insurance product with living benefits. It is designed to provide maximum protection and financial security to a member and their family in the unfortunate event of their passing, disability, hospitalization or upon being diagnosed with a critical illness. Linda Fanaka has 2 main components;

  1. A 5-in-1 bundle of Insurance products and
  2. A Welfare Fund that augments these benefits.

What is included in the 5-in-1 Insurance Package?

Customers who purchase Linda Fanaka are entitled to the following benefits;

  1. Life Policy
  2. Dignity Plus (Last Expense)
  3. Critical Illness
  4. Accidental Permanent Total Disability and Accidental
  5. Total Temporary Disability
  6. In-Hospital Cash Back pay-out

How does the Welfare Fund work?

At the beginning of the individual’s 3rd year of membership, the BimaNet Welfare Fund augments the 5-in-1 bundle of Insurance benefits without a corresponding increase in premiums. This Welfare Fund;

  1. Doubles the sums assured by the underwriters and
  2. Pays a cash-back-bonus for every 3 consecutive claim free years.

Is Linda Fanaka a medical cover?

Linda Fanaka is NOT a medical cover. It is a Life Insurance product with supplementary benefits. However, there are medical events which trigger some of the benefits associated therein for example;

  1.   Critical Illness Benefit: Unlike a medical insurance product which pays the hospital for your cost of treatment, this benefit pays the member a lump-sum amount upon being diagnosed with any of the specified critical illnesses in our policy guidelines. You may use this money to commence your treatment or offset any additional expenses associated with your recovery.
  2. In-Hospital Cash Back: This feature is designed to help you cope with the extra financial burden when your life is disrupted by hospitalisation. The money is paid directly into your account and you can use to cover the shortfall of your medical cover or take care of other expenses from your hospital bed.

Where can I get more information about the insurance benefits, the exclusions and other fine print (terms & conditions)?

Please click here to view the Terms & Conditions that apply to the insurance covers. The Terms & Conditions are provided at the bottom of the page.

What is the duration of cover?

The duration of cover is 12 months from the commencement date but continuation of the cover is subject to renewal on the 11th month anniversary of your membership.

How do I make a claim?

All claims are lodged with the BimaNet customer care department and we follow-up with the underwriters to ensure that your benefits are processed timeously without complications.

What happens if I die while my cover is still valid?

Upon submitting a valid claim, the benefits are paid out to your nominated beneficiaries. If there are no specified beneficiaries, the benefits will accrue to your deceased estate and distributed in accordance with your last will and testament.

What happens if there is a delay in lodging a claim?

BimaNet’s underwriters will retain the benefits until the member or nominated beneficiaries institute a claim.

Can I have more than one life insurance policy?

You can have as many life insurance policies as you can afford because the Insurance Act of Kenya doest not put a limit on the value of your life.

How do I subscribe to the Linda Fanaka product?

Simply complete an application form and submit the following supporting documents;

  1. Copy of ID/Passport
  2. Proof of payment (e.g. deposit slip, EFT receipt, MPESA reference number, etc)

Is there a waiting period before the commencement of cover?

Admission to Linda Fanaka is immediate and there is no waiting period imposed.

Are my children covered under my Linda Fanaka policy?

Your policy covers all children between the age of 3 months and 18 years. They are entitled to a Life Cover of Ksh 100,000 and a Critical Illness equivalent to 50% of you benefits as the main member.

Will I receive a policy document as proof of cover?

You will receive a Certificate of Insurance that serves as your proof of insurance.

Can I cancel my BimaNet membership?

You may cancel your BimaNet membership at any time by opting not to renew your annual membership.

I have seen other insurance products which promise a return after 5 and 10 years of policy ownership. What returns does Linda Fanaka give me over the years?

Linda Fanaka does not provide an investment return after a specified period of time because it is a pure risk product. However, it pays you a cash-back bonus every 3 consecutive claim free years.

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