There are people with money in this town as insurance firm takes full-page advert over unclaimed benefits

By K24Tv Team On Fri, 16 Oct, 2020 10:15 | < 1 min read
Kenyan currency. PHOTO | FILE

Even as people financially struggle during this Covid-19 pandemic, there are individuals who have insurance benefits left unclaimed at the Madison Life Assurance.

The insurance company had to take out a full-page advert in one of the local dailies to plead with 420 individuals that the company has been holding their benefits.

“Any of the benefits listed below that remain unclaimed as at 23rd October, 2020, will be surrendered to the Unclaimed Financial Assets Authority,” said the life assurance firm.

To be clear, the company is not doing the beneficiaries any favours since the Unclaimed Financial Assets Act 2011, requires financial institutions to inform policyholders when insurances mature.

Nonetheless, it will be a comfort for some of the beneficiaries who probably have no clue that they have some cash lying somewhere unbeknownst to them.

The policyholders have at least seven days to claim their benefits.

“We would like to request you to visit the closest Madison Branch or contact our customer service,” said the firm.

To claim the benefits, the beneficiaries will only have to produce the original policy document, an identification document and bank account details.

A cursory scan of the list of names reveals that the majority of them are Kenyan nationals.

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