Clarkson Last Mile

The Last Mile Product ensures security when faced with the unfortunate demise of a loved one, assisting you in planning better for the future and avoiding financial burden. As you lay your loved one to rest, take heart knowing your needs are met. Don’t wait until it is time to attend the harambee, plan now knowing the inevitable is secure.

Occupation Retirement Benefit Scheme

This benefit is set up as defined contribution schemes where both the employer and employees contributes a certain amount as determined at the onset of the scheme. Under this scheme, there are two services, namely:
  • Deposit Administration (Fund Management) and
  • Benefits/Scheme Administration.
At the time of retirement, the overall benefit is determined by the total amount of contributions and the accrued interest earned on the contributions.

Group Personal Pension Plan

As an employer, you need to be able to attract and retain high calibre staff. One of the ways in which several leading organizations do this is through the establishment of a Retirement Benefits Scheme. The principle objective of Employers setting up a Retirement Benefits Scheme is to provide:-
  • Tax benefits for their employees while in employment upon their retirement and
  • Financial security benefits upon their retirement
  • Widows/widowers and dependents’ benefits in the event of death before retirement

Pension Schemes

These are schemes that provide a retiring member with a regular pension, unlike the provident fund schemes which pay out a lump sum payment. A retiring member is allowed under the law to withdraw up to 1/3 of the accumulated amount as a lump sum, and the balance utilized to buy a pension.

Provident Fund Schemes

These are arranged by an employer to provide for their employees a lump sum amount on their retirement. The employer may decide to contribute and exempt the employees from contributing, although in most schemes both the employer and employees contribute towards the fund. On retirement a lump sum amount is paid to the retiring member.


An individual may wish to utilize a lump sum amount to purchase an annuity. This is a regular payment made to a retired member. An annuity may be funded from the proceeds of a provident scheme. The annuity ensures that the recipient continues receiving the regular payment for a longer duration

Personal Pension

As people develop through their lifetime they have an expectation that a time will come when they will be able to retire. For some people the State pension is sufficient to provide a basic level of income. Others may have an opportunity to accumulate wealth without using pension schemes - perhaps through their business ventures or other assets. But most people will want to supplement what they have with some form of pension scheme. Many employers also take the view that, while their employees are working, they should be building up an entitlement to a pension when they retire. Pension arrangements have a number of advantages:
  • When people come to retire they will experience a reduction in income - a pension makes up for some of this loss of income in retirement.
  • Pension schemes can provide protection in the form of lump sums and pensions to dependents in the event of a member's death;
  • In order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments.

Endowment Assurance

This product provides a combination of life cover with an investment element. It pays out the sum assured on the death of the life assured or, on survival to the end of the policy term, it pays out the maturity value. This is in contrast with the Term Assurance, which does not pay anything on the survival of the life assured to the end of the policy term.

Term Assurances

Term Assurances are ideal for young families, where a lump sum, usually known as the Sum Assured, is paid out on the death of the insured person. This eases the burden on the surviving family in the event of the death of the breadwinner.

Credit Life Assurance

As with the Mortgage protection, this policy pays out the outstanding loan on the death of the borrower. The credit Life policy is however restricted to low amounts of cash, usually up to Kshs. 1,000,000/=

Mortgage Protection Assurance

This cover pays the outstanding Mortgage loan to the financiers in the event of the death of a borrower. This ensures that the beneficiaries of a deceased borrower do not lose the asset financed if the borrower dies before redeeming the loan borrowed.

Group Life Assurance

A Group Life policy is arranged for employees of a company, to provide a lump sum amount for a deceased employee's beneficiaries. Cover is normally based on a multiple of an employee's annual salary A Funeral Expense Rider can be incorporated in the Group Life policy to provide for the deceased member's burial costs. Cover can also be arranged for individual members, for example the self-employed people who may not constitute a group.