Benevolent (BBF) refers to a member-funded self-insurance and welfare scheme designed to provide financial support to members and their immediate families during times of loss. It operates on the principle of mutual assistance, where members contribute regularly to create a common fund that offers funeral assistance, loan protection, and financial security in the event of death. The scheme helps ease the financial burden associated with bereavement while promoting solidarity, care, and shared responsibility among members.
- Member self-insurance and welfare scheme
Funeral benefit payable as follows:
Member: KSh 100,000 paid to next of kin
Spouse: KSh 100,000
Child: KSh 50,000
- Offsets the outstanding loan balance of a deceased member
- Member deposits doubled (100%) in the event of death
