Frequently asked questions (FAQs).
Insurance Broking FAQs.
- Who do insurance brokers work for?
Insurance brokers work for their customers, whether they are individuals or businesses. They research the market for suitable options, share those options with their clients, and help them apply for and purchase coverage from insurance companies.
- Why should I use an insurance broker?
There are many reasons why using an insurance broker is the best way to protect you or your business, here are some of the reasons.
- Expertise – Insurance policies can be complex and there are often many differences in cover between policies from different insurers. An insurance broker can advise you of the differences in cover and give advice and recommendations to the best policy for your circumstances.
- Ease – Not everyone loves or understands insurance – but we do! We work on making sure the entire insurance process is a simple and hassle-free experience for our clients. We assist with any paperwork that needs to be completed, leaving you to focus your time and energy in running your business.
- Speed – An insurance broker understands the claims process and will provide guidance and assistance in expediting the claims process.
- Support – We are there to ‘fight your corner’ at all times, including negotiating terms, and settling claims.
- Who regulates insurance brokers?
We are regulated by the relevant regulatory offices in each country that we trade from, so the likes of the Insurance Regulatory Authority of Kenya (IRA); Tanzanian Insurance Regulatory Association Authority (TIRA); Financial Conduct Authority (FCA) in the UK and the Financial Services Commission (FSC) in Mauritius.
- What insurance cover does my business need?
Every business faces different risks and exposures, which is why it is critical to have your insurances tailored to you or your business. Once one of our insurance experts has determined what cover you require, we provide a quotation which best suits your needs.
We handle all areas of commercial insurance and are proud to be able to offer industry specific packages as well to our clients. As you are probably very much aware, commercial insurance is not a simple topic and the complexities vary from company to company.
Should you have any specific questions, please reach out to our team of advisors on [email protected] and a member of the team will get in touch with as soon as they can.
- What type of personal insurances insurance might I need?
Like a business, you are likely to have assets, whether it is a Car, your Home and, not forgetting you. We offer the aforesaid insurances, plus Health insurance, Life cover and Travel insurance.
- How much will the insurances cost me?
Almost every risk is different, and we will tailor the insurances required to suit you. We never ‘pigeon-hole’ our clients, we listen and advise them on the best solution. Depending on what cover is agreed between us, will determine the costs.
- When should I notify my broker of any changes?
It is important that you notify us of any changes as soon as they occur or as soon as you possibly can. Failing to do so may be viewed as failure to disclose material facts and may prejudice any claim that occurs.
- What is an excess?
An excess also known as a deductible is an amount the policy holder must pay if they proceed with making an insurance claim. This can be shown in your policy document as a fixed amount or as a percentage of the limit, sum insured or the loss.
- Why do we need to submit KYC documents?
As a regulated Insurance Broker, JW Seagon are required to verify the identities of our customers as part of global anti money-laundering and fraud initiatives. To ensure we comply with our legal obligations, please do have a look at the following documents that highlight the documents we need and the options available to you for the types of documents you can submit.
Health Insurance FAQs.
- What information do you need to provide a quotation?
We need the following information to provide you with an accurate quotation
- Your date of birth. Age is one of the key determinants of health insurance premiums because the older we get the more likely we are to require medical treatment.
- Your nationality and country of residence
- Your choice of cover – whether you want cover for just hospital treatment or for everyday expenses as well
- Your choice of which countries you would want to be treated in (referred to as your area of cover)
- Can I still get cover if I have/have had a medical condition?
Possibly, depending on what the medical condition is/was. If you are being medically underwritten, you will be presented with one of four outcomes:
- Treatment of your pre-existing condition is covered in line with the policy terms.
- Treatment of your pre-existing condition is covered but there is an increase in premium (often referred to as a loading) to cover the additional risk to the insurer.
- Treatment of your pre-existing condition is excluded from cover.
- The insurer declines to provide any cover.
- I am already pregnant; do you have a cover that will cover my maternity expenses?
No. With all medical policies you have to wait (typically 9 to 12 months) before maternity cover is eligible.
- What is a deductible?
This is an amount that you pay each year before your insurance kicks in. It is one way to reduce your premium.
- What do you mean by a co-pay?
If your benefit is subject to a 20% co-pay, you pay 20% of your treatment cost and the insurance pays the remaining 80%.
- What is Withholding Tax (WHT)?
In Kenya, 5% of your premium has to be paid as WHT if the policy is provided by an international insurer.
- What after sale support does JW Seagon provide?
JW Seagon makes sure you have the right policy to meet your needs now and at renewal and that all policy administration is as smooth and straightforward as it can be. We are there for you when you need to claim whether it is to submit claims on your behalf, to arrange treatment pre-authorisation or to help coordinate medical evacuations.
- Is COVID-19 covered under my policy?
Typically international insurers cover Covid-19 as per the policy benefits. This means that if the treatment you require is covered by your policy then it won’t be denied because you have Covid-19.
- Do premiums go up each year?
Not always. If premiums do increase it is a result of:
- The overall claiming behaviour of ALL customers on an insurance product.
- Each individual customer’s age
- The rising cost of medical treatment associated with the different types, utilisation and price of medical treatments. Medical inflation is affected by advances in medical technology, the increased prevalence of chronic conditions (such as diabetes and heart disease) and cancers associated with ageing populations and unhealthy lifestyles.
- Once I have bought a policy can I upgrade or downgrade my level of cover?
Most changes to the level of cover can only be made at policy renewal. If you want to increase your level of cover, or expand your area of cover, the insurer may ask you to complete a medical questionnaire for re-underwriting before they accept your application.
- What happens to my cover if I return to my home country or relocate?
It is important to let us know if you change your country of residence. This may affect your cover or premium, even if you are moving to a country within your geographical area of cover.
- What happens at renewal?
We will contact you two months prior to the renewal date to check if you want to make any changes. We will then present renewal terms a month before and provide guidance on what to do.
- How do I cancel my policy? Will I get a refund?
Health insurance policies are annual contracts, so midterm cancellations and premium refunds are not typically permitted. However, insurers do have different rules so please contact us for guidance.
General Insurance FAQs.
- What information do I need to provide you to obtain a quotation?
Simply the make and model of the vehicle and an up-to-date value. Even easier, just e-mail your current schedule over to us if you have one.
- What documents would I need to submit to finalise my motor insurance?
- KRA PIN
- Vehicle Logbook
- Can my partner drive my car and be covered by the same insurance?
Yes – anyone can drive the car as long as they have a driving Licence and are authorised to be driving the car by the person whose name the insurance is under.
- I’m not sure of the value of my car, what do you suggest?
We would recommend that you do a search for a similar vehicle online. One of the great benefits of the JWS Motor scheme is that we are able to provide you with a vehicle valuation FOC for every vehicle that comes on board with a comprehensive cover. Once you have had the car valued, 1 of 3 of the following is likely to occur:
- The value that you have insured you car for is lessthan the valuation. The car insurance value would be adjusted to reflect the valuation amount. You would be issued with an invoice for the shortfall in premium.
- The value that you have insured your car is morethan the valuation. The car insurance value would be adjusted to reflect the valuation amount. You would be issued with either a credit note or a refund once the revised premium has been calculated.
- You have valued the car correctly originally, therefore no changes to the premium are required!
- If I need to make a claim, how do I go about this?
Making a claim can often be a very stressful and an upsetting time for individuals and businesses. The first step is to simply contact us. One of our colleagues can then check whether the policy will respond before submitting the claim and completing paperwork. After the claim has been initially reviewed, we then report the claim to your insurer. Depending on your insurer and the type of loss which has occurred, the insurer may require a completed claim form, tax invoices and/or repair or replacement quotations to determine the amount of loss incurred. In some instances, your insurer may appoint a claims adjuster or an assessor. If the claim is approved by the insurer, they will make payment either by bank transfer to your nominated bank account or a cheque.
JWS Sleep Easy
- How do I value my buildings and contents
You should value your Building for the cost to rebuild, not the market value, and your Contents on what the total cost to replace as new. You will find guides to Buildings and Contents values on the web site.
- Can I insure my laptop, tablet, mobile, jewellery, watches and other portable items?
Yes, we have a section called Personal Possession and insures your property anywhere in the World. You can insure as a total value, only specifying items in excess of KES 400,000 (c $4,000) in value
- I rent my home; do I need to insure the building?
Normally your landlord will have insured the building. However, we advise that you check your lease to make sure you are not liable to pay for any major damages that occur while you are renting the house
- Can I get travel insurance that will cover covid-19?
The JWS Travel policy does not cover Covid-19. However, we can arrange cover for you from other insurers on the market that will cover Covid-19. Please be aware though that the coverage for Covid-19 is only applicable to medical expenses and does not extend to other aspects of the travel cover, such as cancellation and curtailment.
- I have already arrived in the country; can I still get travel insurance?
This is not an ideal situation, and we would advise all travellers to try and get their insurance in place before any trips. However, should this not be the case, our JWS Travel policy is one of the few travel insurances on offer here in Kenya that we can sell once you have already arrived.
- I have a pre-existing medical condition, will this prevent me from purchasing Travel cover?
Mot necessarily. Our JWS Travel policy is more flexible, and will provide cover as long as you are medically fit to travel and a Doctor/Specialist has confirmed that you are able to travel. It’s always best to check with us.
Life Insurance FAQs.
- What types of life policies do you offer
We offer Term & Whole of Life policies; minimum term is 5 years up to a maximum term of 35 years.
The Whole of Life policies run up to age 99
- Who is eligible to apply?
The policy is available to any individual who is aged between 18 and 70 years at the time of application.
- Can I have a joint policy?
You can choose to have a policy on your own or on a joint basis with your spouse or civil partner. A joint policy can be established to pay out when the first person dies (Joint Life, First Death) or when both people have died (Joint Life, Second Death).
- How is the premium determined?
We take various factors into account when calculating your premium. Some of these factors include how much cover you want, your age, gender, country of residence and whether you smoke. Hazardous pursuits like flying are also considered.
- Are there additional policy benefits?
Depending on the insurer, you may have the option to add Disability and/or Critical Illness benefits to your life policy, however these will expire when you turn 65 years.
You can also add Accidental Death Benefit which expires on your 70th birthday and Waiver of Premium Benefit.
- What denomination is the policy currency?
The policy can be denominated in US$, GBP or € and premiums must be paid in the same currency.
- Do I get cash back once the term of my policy ends?
All our policies are purely life and have no element of investment, hence no premiums are refundable once the policy term comes to an end.
- My Life policy is due for renewal. How can I review my current cover?
We can assist with a full review.
- I want to renew my life insurance. How can I do this?
You can renew your policy on or before the renewal date found in your renewal documents. This can be done using direct debit, telegraphic transfer, or cheque issuance.
- How do I cancel my Life policy?
You can send us an email and notify us of your intention to not renew.
- How do I register my credit card for future online premium payments?
You will be required to register your credit card for future premium payments. This can be done by completing a credit card mandate.
Once you have registered the insurer will automatically collect future premium payments from your credit card when your policy is due.
- Can I split payment into different instalments?
Yes, this can either be monthly, quarterly, semi-annual, or annually. Although this is usually done at the inception of the policy. However, should your financial circumstances change, you need to notify us 4 weeks prior to the renewal date.
- How will I know that the insurer has received my payment?
We will send you a receipt by email as soon as the premium has been successfully received by the insurer. Please contact us if confirmation has not been received.
- Is the online premium payment a secure method?
The respective insurance companies have taken many actions to ensure clients’ protection and use the latest technology to make sure that their payment information is always kept confidential and secure. However, should you notice any unusual activities or alerts from your bank, notify us immediately so that we can contact the insurer of the same.
- Can my premium be paid by someone other than myself or can the premium be paid by a 3rd party?
As per the policy’s set up, the insurer only knows the policyholder however for a 3rd party to pay, for instance your children or company. One must provide Anti Money Laundering requirements which includes certified identity, proof of address which should not be older than 3 months old.
- What happens if I change my country of residence?
This should not be a problem however you must advise us in writing if you permanently change your country of residence from what was stated in your application form.
- Who are your re-insurers?
Unilife policies are re-insured by SCOR Africa & Gen Re. Prudential whom we work with locally re-insure through Africa-Re.
- How do I make a claim?
A claim can be made by getting in touch with us in writing or by phone. There are some standard forms and documents to be submitted and we will advise of these when a claim is made.