Destiny finance trading as Diaspora Insurance LTD is regulated and authorized by the Financial Conduct Authority (FCA) under Firm Reference Number: 795897. It is also a member of the UK Financial Services Compensation Scheme (FSCS) which is an independent and free service scheme, protecting consumers when financial firms fail. In addition, Diaspora Insurance is reinsured by one of the biggest reinsurance companies called Africa RE, FM Re and is underwritten by Guardrisk Life International Limited.
In essence, YES, your premiums are protected through the following platforms:
Financial Conduct Authority (FCA)
UK Financial Services Compensation Scheme (FSCS)
Guard Risk Life International… Read More
team4dfiAre my premiums protected if the company goes bursts?
The bespoke Diaspora Funeral Cash Plan is underwritten in the major currencies of the world: US Dollar, the Euro, British Pound, Australian Dollar and Canadian Dollar. These currencies are historically known to maintain their value over time compared to the rest of the world’s currencies. Diaspora Insurance is a dynamic company which was formed with the goal to speak to clients’ needs, especially Diasporans who found themselves in trying times when grieving their loved ones. (Targeted at transnational citizens)
First, we need to define what are Diasporans. According to the Oxford dictionary, it defines them as a group of people… Read More
team4dfiWhy do you use different currencies for your policy ?
Diaspora Funeral Cash Plan is a bespoke product offered by Diaspora Insurance which is a very simplified product that guarantees peace of mind and comes on a guaranteed acceptance basis. Guaranteed Acceptance basis basically means we do not conduct any medicals both on application and on claiming, the following are the key features of the cover:
Guaranteed acceptance with no medicals at all.
Immediate US$, £, €, ZAR cash pay-out upon proof of death
Worldwide cover, it truly is protection with no borders.
Permanently US$, £, €, ZAR denomination policy
Up to US$/£/€20,000 cover per life
Body repatriation is not… Read More
When a loved one passes away, it can be a difficult time for the family and friends. Not having a funeral plan in place can cause additional stress and worry during this already difficult time. Without a plan, families may have to make decisions about the deceased quickly, without taking into account their wishes or financial situation. This could lead to financial strain as well as emotional distress. It is important to consider the consequences of not having a funeral plan in order to ensure that your family is taken care of after you pass away.
Planning a funeral for… Read More
team4dfiThe consequences of not having a funeral plan & how it can affect your family
Suicide is defined as death caused by self-directed injurious behavior’s with the intent to die as a result of the behavior’s as defined by Institute of National Mental Healthy.
A suicide clause is a provision in most insurance policies that states that the policy will be void if the policyholder commits suicide within a specified period following the policy start date. This period is usually two years. The Diaspora Funeral Cash Plan policy excludes any claim arising as a result of suicide (whether sane or insane) during the first 24 (twenty-four) calendar months from the date of commencement or reinstatement… Read More
team4dfiWith the times that we are in, and people are suffering from depression, why is your waiting period for suicide death, 24 months.
For many Kenyans living in the diaspora, life is characterized by a daily struggle. Life in the diaspora can be hard because people have to adapt to new and strange cultures, deal with language barriers and cultural differences, and deal with homesickness and economic struggles. Despite this, Kenyans living abroad have found ways to retain their culture while navigating through the various complexities of life in a foreign country.
When you don’t have a supportive community nearby, living in the diaspora can be a lonely and depressing experience. It’s difficult to find anything that brings joy and optimism in this… Read More
team4dfiDay in the Life: The Challenges of Kenyans Living in the Diaspora.
Waiver of Premium is an additional insurance for the protection of the risk of failing to pay your monthly premium itself and usually means that the policy premium will be paid for by the insurance company for after a pre-agreed deferment period if you are unable to work either due to serious injury or critical illness. Other stipulations may apply, such as meeting specific health and age requirements.
It is therefore a benefit that can be added to protection insurance policies, like life insurance, income protection and critical illness cover.
As a type of add-on cover, also called a ‘rider’… Read More
There are additional covers that can be added to Life Cover and these enhance the overall protection because Life Cover on its own does not cover eventualities like incapacity due to injury or illness or loss of income due to redundancy. So, one can take other cover over and above the life cover:
Every Diasporan originally from any of the following countries (by birth, by descent, by naturisation, by marriage, by registration) qualifies to be covered and you can cover yourself in the diaspora and your loved ones back home or anywhere in the world:
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