2

Dear Policyholder

Thank you for registering for the Lengo Savings Plan - Premier . Old Mutual Life Assurance Company Limited undertakes to
pay the benefits described in this contract to the policyholder or to the person(s) otherwise entitled to receive them, in accordance
with and subject to the terms and conditions set out in this contract.

The proposal and any other related documents form the basis of the agreement in this contract.

Please contact your intermediary or any of our branches countrywide if any aspect of this contract is not clear.

I trust that this policy will meet your needs.

OLD MUTUAL LIFE ASSURANCE COMPANY LTD

P O BOX 30059 00100 GPO

NAIROBI

KENYA

PRINCIPAL OFFICER
LENGO SAVINGS PLAN - PREMIER
Terms and Conditions
These terms and conditions, the application form, the note explaining smoothed bonuses and money
market funds and any other documents relating to this policy provided to/by you, is your contract.
Definitions
Where these words or phrases are used in the text, they mean:
Term
Policyholder/You/Your/Life
Assured
Old Mutual/We/Us
Accident
Accumulated Value
Beneficiary
Contribution Holiday
Free Cover Limit
Lapse
Life cover/Death Benefit
Long Term Contribution
Long Term Pocket
Lump Sum Contribution
Market Value
Market Value Adjustment
Policy No.
4
Definition
The person who signs the application form and the terms and conditions and
is the owner of the contract.
Old Mutual Life Assurance Company Limited.
Physical address: Old Mutual Building, Corner of Mara and
Hospital Road, Upper Hill Nairobi
Postal address: P.O. Box 30059-00100, Nairobi
By email: clientservices@oldmutualkenya.com
A fatal and unforeseeable event that occurs after the Issue Date and which,
in a violent, external and visible manner,independently of any other cause,
directly causes an injury resulting in the Policyholder's death. Suicide does
not classify as accidental death but due to causes other than accident (subject
to exclusions and conditions in these Terms & Conditions).
This is the sum of the Long Term Contributions plus bonuses earned in the Long
Term Pocket minus charges plus the Short Term Contributions plus interest
earned in the Short Term Pocket less withdrawals and charges at any point
in time.
This is the person or legal entity who receives the payment of the benefits
following the death of the policyholder. You may nominate upto five (5)
beneficiaries.
You may miss up to six Total contributions over the term of the policy without the
policy becoming paid-up; provided a minimum of six Total Contributions have
been paid into the policy.
This is the amount of Life Cover that you may obtain without medical tests being
required. This is currently KES 100,000 in respect of HIV/AIDS and
KES 1,200,000 on other illnesses as provided in the application form.
If you stop paying your contributions and your contributions holidays have all
been used, your policy will lapse.
If You die before Your policy matures, Old Mutual will, subject to the terms on
Free Cover Limit, pay a benefit equivalent to the premiums that You would have
paid over the remaining term of the policy. This benefit is paid over and above
Your Accumulated Value.
The portion of your Total Contribution that goes into the Long Term Pocket. It is
85% of your Total Contribution.
The contributions that go into the Long Term Pocket plus annual bonuses less
fees or charges.
These are amounts over and above the Total Contribution that can be made into
the Long Term Pocket.
This is the value of the assets in the Old Mutual Smoothed Bonus Fund at any time
as measured by the investment markets.
This is a tool used to rebalance the total Market Value of assets in the
Old Mutual Smoothed Bonus Fund against the total Accumulated Value of a
Policy on Surrender.
The Market Value Adjustment will be applied before a Surrender penalty is
applied, where relevant.
It will not apply on death or maturity of the policy.

Old Mutual Money Market Fund
Old Mutual Smoothed Bonus Fund
Paid Up
Policy Anniversary
Policy Start Date/Issue Date
Policy Term
Policy Year
Short Term Contribution
Short Term Interest
Short Term Pocket
Smoothed Bonus Rate
Surrender
Total Contribution
Waiting Period
Withdrawals
Policy No.
6
The money that goes into the Short Term Pocket is invested in this fund. The
aim is to grow Your funds with interest that is better than the interest earned
on a normal bank deposit.
The money that goes into the Long Term Pocket is invested in this fund. The
aim is to grow Your funds by more than inflation over the long term, but this
is not guaranteed.
You may request for Your policy to be made paid-up. If Your policy is paid-up
it means that premiums are no longer being paid, but the savings that have
already been made into Your fund remain invested until the end of Your
chosen term, death or surrender of Your policy.
Your policy may automatically be made paid up if it lapses depending on the
Accumulated Value of Your policy.
A fee will apply on policies that are made paid up.
Life cover is not available on a paid up policy
Yearly interval starting on the Policy Start Date.
The first day of the month after all of the following requirements are met:
the first full contribution received by Old Mutual
signed application form received by Old Mutual
written acceptance of application by Old Mutual
The period from Policy Start Date to maturity of the policy. For this policy
you can choose either five or ten years only.
This is each year from the Policy Anniversary until maturity of the policy.
The portion of Your Total Contribution that goes into the Short Term Pocket.
It is 15% of Your Total Contribution.
This is the rate at which the money in the Short Term Pocket grows each month.
It reflects the performance of the Money Market Fund. The interest allocated is
after the fund management related charges have been deducted.
The accumulation of contributions that go into the Short Term Pocket plus
interest earned less any amounts that You withdraw from the pocket
This is the rate at which the money in the Long Term Pocket grows each year.
It is based on the performance of the Smoothed Bonus Fund and is ¶smoothed·
to prevent sharp increases or decreases. The declared rate is after investment
related charges and taxes have been deducted.
You will stop paying contributions and get paid out Your Accumulated Value. A
surrender charge may apply.
The total monthly amount that You pay to Old Mutual for Your Investment Plan
This is the period of time from the Policy Start Date during which Life
Cover is not available. The Waiting Period Only applies for deaths due to
non-accidental causes.
The Policyholder may make withdrawals from the Short Term Pocket. Up to
two (2) free withdrawals are allowed every Policy Year. Additional withdrawals
will attract a charge which will be deducted from the withdrawal amount.
 8
General Terms and Conditions
1. Old Mutual undertakes to pay the benefit to the person(s) entitled to receive it on request, subject to any legal limits in
force. These Terms and Conditions, the application form, the note explaining smoothed bonuses and money market
funds and any other documents relating to this policy provided to / by you, is your Contract. Contractual Documents may
be electronic, paper or voice recorded.
2. Cooling off Period: If You are not satisfied with the Investment Plan, You may withdraw from the contract by returning Your
policy contract to us within thirty days from the day that You signed it or the counter offer. Once we have received the
policy contract, we will refund any contributions paid, provided that You are still alive. Old Mutual also reserves the right
to cancel the policy if Old Mutual determines that You do not meet the underwriting requirements. Old Mutual will notify
You either through written means or electronically.
3. The minimum Total Contribution is KES 7,000. For other payment frequencies, the minimum contribution is a multiple of this.
4. Your Total Contribution is automatically split by Old Mutual, with 85% being the Long Term Contribution and 15% being the
Short Term Contribution. Policy charges and risk premiums are shown below;

Percentage of Total Contribution

Total Contribution Fixed Charge p.a. 5 years 10 years
7,000 and above 3,000 5% 12.5%
These charges are deducted from the Long Term Pocket. Policy charges are not guaranteed but are reviewable at least
annualy and may be increased.
5. Charges relating to management of investments depend on the asset allocation of the fund. The Smoothed Bonus Rates
and Short Term Interest added to Your policy will be net of these charges.
6. To purchase this policy You have to be between 18 and 65 years old.
7. Total Contributions may be increased or decreased at the Policy Anniversary, subject to minimum allowable contribution.
There is a charge of KES 400 on decreasing the contribution level but no charge applies on increasing the contribution
level. This charge is not guaranteed but is subject to an annual review and may be increased.
8. There is a six (6) months Waiting Period on the Life Cover adjustment where the Total Contribution has been increased.
There is no Waiting Period where the Total Contribution has been reduced and the lower Life Cover will apply immediately.
9. You may change Your method of paying contributions.
10. Your contributions are due on the first day of Your premium payment cycle. A two (2) calendar months grace period is
allowed for payment of Total Contributions. In the event of non-payment of Total Contributions within the grace period,
the policy will enter into a four (4) month Contribution Holiday; Life Cover will continue and the premiums for the
Life Cover and policy charges will be deducted from the Long Term Pocket. Missed Total Contributions can be paid back.
This will allow You to enjoy the holiday again.
11. Once the Contribution Holiday is used up, the policy lapses.
12. Contributions paid in advance will be kept in a suspense account until they are due. No interest is earned on these
amounts.
13. You may also make additional Lump Sum Contributions into Your Long Term Pocket. To qualify as a Lump Sum
Contribution, the amount must be at least three (3) times the Total Contribution and You must specify that the
amount is a lump sum injection; otherwise the amount will be kept in the suspense account to meet future premium
dues. Lump Sum Contributions are not taken into account in calculating the Life Cover, determining whether
a policy lapses and in calculating the Surrender penalty.
14. A lapsed policy may be converted to Paid up status provided the Accumulated Value is at least KES 100,000 after the
deduction of a Paid up fee of KES 400. Otherwise the policy is terminated and the fund paid to You immediately. The
Paid up fee and the minimum paid up amount are not guaranteed but are subject to annual review and may be increased.
15. If the policy is subsequently surrendered before sixty (60) months· worth of premiums have been received, surrender
penalties will also apply. If the policy is subsequently surrendered or matures when more than sixty (60) months·
premiums have been received, no further charges apply.
16. A lapsed policy cannot be revived or reinstated.
17. If a policy is in Paid up state an annual administration charge of KES 2, 000 p.a. will be deducted from the Long Term
Pocket. This charge is not guaranteed but is subject to annual review and may be increased.
18. The Surrender Value of the Long Term pocket of Your Investment Plan can be used as a collateral security for a loan
with any financial institution on terms to be agreed upon with the financial institution and Old Mutual from time to time.

Policy No.
 10
19. Your contributions may be paid through the following:
- M-Pesa : Business number - 600501
- Airtel Money : Business number ² 0731-100-116
- Cheque (Written in favour of Old Mutual Life Assurance Company)
- Check-off (This is a monthly salary deduction from payroll. A Check-off/Stop-Order form must be filled)
- Direct Debit/Standing order (This is payment via the bank. A direct debit or standing order form must be filled).
Please submit a copy of the ATM card as proof of bank details provided together with the form.
- Cash deposits are only allowed at the Cashiers office in the Head Office at Upperhill Nairobi or into
the bank account. The details are:
Account Name: Old Mutual Life Assurance Company Limited
Bank Name: Standard Chartered Bank of Kenya
Branch: Koinange Street
Account Number: 0102072658600
20. The first Total Contribution is due before the Policy Start Date. Thereafter contributions are due on the first day of
Your selected payment frequency until the maturity date of the policy
21. All payments made to or by Old Mutual shall be in the prevailing lawful currency in Kenya.
22. The contract shall be governed by the laws of Kenya.

Investment related Terms and Conditions

1. Long Term Contributions are invested in a Smoothed Bonus Portfolio that aims to provide real returns over the long
term. Returns will be smoothed and allocated to clients fund values annually in arrear as bonuses.
2. At the end of the policy term the Accumulated Value from the Long and Short Term Pockets will be paid out to You.
3. Funds in the Short Term Pocket can be withdrawn at any time, providing You with cash when You need it. The first
two withdrawals in a Policy Year are free. Additional withdrawals attract a charge of KES 400, which will be
deducted from the Your withdrawal amount. This charge is not guaranteed but is subject to annual review and may
be increased
4. Withdrawals from the Long Term Pocket are not allowed but You may surrender Your policy at any time.
5. A surrender penalty is applied to surrenders from the Long Term Pocket that occur when less than sixty months·
worth of Total Contributions have been received. The value of the benefit on surrender will, taking into account the
application of Market Value Adjustment (MVA) be as follows:

Number of Total Description Surrender value as a percentage of

Contributions Received the Accumulated Value
<=3 Up to 3 months· worth of Total Contributions have (1 - MVA) x Accumulated Value x 0%
been received
4-6 More than 3 and up to 6 months· worth of Total (1 - MVA) x Accumulated Value x 20%
Contributions have been received

7-9 More than 6 and up to 9 months· worth of Total (1 - MVA) x Accumulated Value x 40%
Contributions have been received
10-12 More than 9 and up to 12 months· worth of Total (1 - MVA) x Accumulated Value x 50%
Contributions have been received

13-24 More than 12 and up to 24 months· (1 - MVA) x Accumulated Value x 60%

worth of Total Contributions have
been received

25-36 More than 24 and up to 36 months· (1 - MVA) x Accumulated Value x 70%

worth of Total Contributions have
been received

37-48 More than 36 and up to 48 months· (1 - MVA) x Accumulated Value x 80%

worth of Total Contributions have
been received

49-60 More than 48 and up to 60 months· (1 - MVA) x Accumulated Value x 90%

worth of Total Contributions have
been received
61+ More than 60 months' worth of Total (1 - MVA) x Accumulated Value x 100%
Contributions have been received

Policy No.
 11
6. Market Value Adjustments are only applied if You surrender Your policy before the end of the policy term. No Market
Value Adjustments apply on death or maturity.
7. The minimum maturity benefit is shown below:

5 year term 10 year term

Accumulated value of the Long Term and Short Term Minimum of:
Pocket ‡ The sum of Total Contributions received less any withdrawals
made on the Short Term Pocket and any part encashments
taken from the Long Term Pocket.
‡ The Accumulated Value of the Long and Short Term Pockets
8. You are not allowed to transfer the Accumulated Value in the Short Term Pocket into the Long Term Pocket or vice versa.
Life cover related Terms and Conditions
1. Life cover is compulsory. The Life cover amount is the sum of Total Contributions payable for the remaining term to maturity.
The Life cover will be paid over and above the Accumulated Value of the policy.
2. On death of the Policyholder after the Policy Start Date, as a result of an Accident, the Life cover amount applicable at the
time of death will become payable.
3. There is a two (2) year Waiting Period from the Policy Start Date for Policyholders that have not taken medical tests. Only
the accumulated fund will be paid if non-accidental death occurs during the Waiting Period.
4. On death of the Policyholder after the Policy Start Date from non-accidental causes and provided the Policyholder has
been medically tested, the Life cover amount applicable at the time of death will become payable provided that the medical
test result is negative for HIV /AIDS or other Illnesses as provided in the application form.
5. If Your policy has a death benefit less than the Free Cover Limit You have an option of taking medical tests so that You
can enjoy cover immediately following the Policy Start Date. This option will be exercised at Your own cost.
6. The total aggregated Life cover from all Your policies will be used to determine whether or not You have breached the
Free Cover Limit.
7. Where a medical test result is positive for HIV /AIDS or other Illnesses as provided in the application form, Old Mutual
retains the right to decline the cover or limit the cover to an amount that it is comfortable with.
8. Where Your Life cover is limited as a result of a positive medical test for HIV /AIDS or other Illnesses as provided in the
application form, You can still select a higher Total Contribution.
9. To qualify for the death benefit the beneficiary must be alive at the date of death of the Policyholder and the
Policyholder must die before the maturity date.
10. If the beneficiary dies the Policyholder can nominate another beneficiary and the Policyholder is at liberty to change the
policy beneficiaries.
11. The benefit shall not be payable if death of the life assured is brought about or accelerated by:
a) War (whether declared or not); terrorist activity; riot, civil commotion; rebellion;
b) Radioactivity or nuclear explosion;
c) Violation of criminal law by the Policyholder;
d) Intentional intake of alcohol, drugs, or inhalation of fumes;
e) Any undisclosed risky activities, which, in Old Mutual·s opinion, may expose the Policyholder to a higher than
average risk of injury such as ;
i. extreme climbing (soloing), ice climbing or extreme altitude climbing above 6 000 m);
ii. cave diving, internal exploration of underwater wrecks, diving at depths greater than 30 meters;
iii. motorised racing (speed contests);
iv. boxing (including kick boxing);
v. Base jumping;
vi. sky surfing;
vii. aerobatic flying;
viii. parasailing (land);
ix. employment as a mine blaster;
x. self-inflicted injury
f) Suicide, whether sane or insane. This exclusion applies for two (2) years from the Policy Start Date
g) Any undisclosed participation in the following:
i. piloting any aircraft ; (or any other activity that involves flying other than as a fare paying passenger on a
scheduled flights)
ii. ballooning;
iii. parachuting without a static line;
iv. hang gliding
v. paragliding; or
vi. rock climbing.
Policy No.
 12
12. Life cover ceases on death of the Policyholder, termination of contract or if the policy becomes paid up.
13. Medical tests may be requested at policy inception.
14. Subject to the application of the waiting period, the death benefit plus Accumulated Value in the Long and Short Term Pockets
will become payable to the nominated beneficiaries.
15. The Policyholder should nominate one or more (at most five (5)) beneficiaries for the benefits payable on his/her death. Where
there is more than one Beneficiary, the Policyholder must specify how the Beneficiaries share in any benefits otherwise they
will share on an equal basis. Any nomination of, or changes to the Beneficiaries will become effective only when Old Mutual
receives such notification in writing before the benefits become payable.
16. On the death of a Beneficiary, if before the date of death of the Policyholder, the deceased Beneficiary·s share will be divided
equally among the Beneficiaries who are still alive. If there are no remaining Beneficiaries, the benefit will be paid to the
Policyholder estate. Any amount in the suspense account will be paid to the Policyholder·s estate.
17. If the beneficiary dies after death of the Policyholder, the Beneficiary·s share is still due to this Beneficiary and will be payable
to the estate of the Beneficiary in question.
Benefit Illustration
a) The table below provides a benefit illustration assuming:
Entry age: 40 years
Monthly premium: KES 7,000
Policy Term: 5 years
No withdrawals from the Short Term Pocket and part-encashments from the Long Term Pocket are made
All contributions paid

If gross investment returns (p.a.) are 5% p.a. If gross investment returns (p.a.) are 12% p.a.

End of Annual Total Accumulated Life Minimum Accumulated Life Minimum

Year Contribution Fund Cover Maturity Benefit Fund Cover Maturity Benefit

1 84,000 77,870 336,000 80,730 336,000

2 84,000 157,751 242,000 169,197 252,000
3 84,000 239,694 168,000 266,140 168,000
4 84,000 323,754 84,000 372,373 84,000
5 84,000 409,986 409,986 488,787 488,787

* The figures shown above are net of investment charges and policy charges and assume investment returns may fluctuate
over the policy term

b) Projections table: The Projection table below shows how much your savings could be worth for different premium sizes
assuming:
Policy Term: 5 and 10 years
No withdrawals from the Short Term Pocket and part-encashments from the Long Term Pocket are made
All contributions paid

5 Years 10 Years

Starting Monthly Premium Invested Amount Interest Rate Interest Rate Interest Rate Interest Rate
8% 12% 8% 12%

7,000 6,050 442,208 488,787 938,938 1,158,190

15,000 13,250 967,290 1,069,177 2,057,458 2,537,891
20,000 17,750 1,295,466 1,431,921 2,756,534 3,400,205
30,000 26,750 1,951,818 2,157,408 4,154,684 5,124,833
40,000 35,750 2,608,170 2,882,896 5,552,835 6,849,460
50,000 44,750 3,264,523 3,608,383 6,950,985 8,574,087
60,000 53,750 3,920,875 4,333,870 8,349,136 10,298,715
70,000 62,750 4,577,227 5,059,358 9,747,287 12,023,342
80,000 71,750 5,233,579 5,784,845 11,145,437 13,747,970
90,000 80,750 5,889,931 6,510,333 12,543,588 15,472,597
100,000 89,750 6,546,283 7,235,820 13,941,738 17,197,225

Policy No.
 13
Please note that the tables above are standard tables and do not take into account the details of the actual product that will
be invested in. The projected benefit values serve merely as an illustration of compound interest for financial planning
purposes and are not guaranteed. The actual growth rates will depend on the gross investment return earned on the assets
and the extent to which this return is reduced by taxation and expenses. Investment returns may fluctuate over the policy term.

Documents required on claiming

1. The following minimum requirements apply:
a) The original policy contract (for maturities, cool off and death)
b) Claim form (for all claims)
c) Copy of identity document of Policyholder or (beneficiary or Contingent Beneficiary where applicable)
d) Proof of Banking details (for all claims)
e) A letter of notification of death of Policyholder
f) Burial Permit
g) Original death certificate
h) Personal Medical Attendant·s report at time of death
i) Accident report in the case of motor Vehicle accident
j) Inquest report in the case of an unnatural cause of death
k) Any other relevant documents as requested by Old Mutual. This includes evidence not in the possession of the
person entitled to receive the benefit. Old Mutual may call for further evidence or conduct independent
investigation in order to assess the claim. Failure to comply with Old Mutual·s requirements will result in the
claim being repudiated.

2. Old Mutual is entitled to cancel the Benefit if a claim is submitted and such claim is determined by Old Mutual to be based
on fraud and rejected by Old Mutual on the ground of fraud. If this happens no benefit will be payable and premiums received
prior to cancellation will not be refunded.
3. Unless Old Mutual agrees otherwise:
a) Expert evidence must be submitted by persons practising or carrying on business in Kenya.The cost will be met by the
person(s) entitled to receive the benefit.
b) If considered by Old Mutual to be necessary, the person(s) entitled to receive the benefit must make him or herself
available to Old Mutual when and where so requested. The cost will be met by the person(s) entitled to receive the benefit.

COMPLAINTS AND COMPLIANCE DETAILS

Any time you need help, have questions about your Plan, or are not in any way contented with your product, contact our customer
service on clientservices@oldmutualkenya.com or our Old Mutual Head Office on (+254-20)2829800 or (+254)0711010800 or visit
any of our branches countrywide.

DECLARATION
I have read and understood the terms and conditions set out in the policy document enclosed.
Applicant's First Name Agent's First Name

Applicant's Surname Agent's Surname

Applicant's signature Agent's Code

Agent's signature

Date (YYYYMMDD)

Place Worksite Contract-ID

Cover amount (KES) Date (YYYYMMDD)

Place

Policy No. Applicant Signature: