ADVOKS GLOBAL · KENYA
Insurance Act
91. Non-forfeiture of industrial policies in certain cases of non-payment of premiums
Edition: 2023-12-11 · In force
91. Non-forfeiture of industrial policies in certain cases of non-payment of premiums
(1)An industrial life assurance policy on which less than one year’s premiums have been paid shall not be forfeited by reason only of the non-payment of any premium unless the premium has remained unpaid for not less than four weeks after it became due.(2)An industrial life assurance policy on which not less than one year’s premiums have been paid shall not be forfeited by reason only of the non-payment of any premium unless the premium has remained unpaid for not less than eight weeks after it became due.(3)An industrial life assurance policy on which not less than two years’ premiums have been paid shall not be forfeited by reason only of the non-payment of any premium, unless the premium has remained unpaid for not less than twelve weeks after it became due.(4)In the event of an industrial life assurance policy on which not less than three years’ premiums have been paid being forfeited by reason of non-payment of any premium, the insurer shall, without requiring any application from the policy-holder, grant a paid up policy for an amount not less than that calculated in accordance with the rules.(5)The paid up policy shall be payable upon the happening of the contingency upon which the amount insured under the original policy would have been payable.