Life Insurance

Key Features

1. Whole Life Insurance
   • Provides lifelong coverage with a guaranteed payout upon death.
   • Includes options for investment, allowing the policy to accumulate cash value over time.
   • Minimum sum assured typically starts at KES 200,000.
2. Term Life Insurance
   • Offers coverage for a specified term (e.g., 10, 20, or 30 years).
   • Provides a lump sum payment to beneficiaries in case of the policyholder’s death during the term.
   • Affordable premiums starting from KES 9,324 per year (KES 777 per month).
3. Flexible Savings Plans
   • Some policies allow you to save while enjoying life cover, providing financial benefits at maturity.
   • Options to withdraw partial sums during the policy term or receive bonuses based on performance.
4. Accidental Death and Disability Riders
   • Additional coverage options for accidental death or total permanent disability.
   • Ensures that beneficiaries receive extra financial support in case of unforeseen events.
5. Critical Illness Coverage
   • Provides a lump sum benefit if diagnosed with certain critical illnesses, helping cover medical expenses and loss of income.

Pricing Plans

• Basic life insurance plans start at approximately KES 111,888 per year for term coverage (KES 9,324 per month).
• Whole life policies and comprehensive plans can range from KES 24,000 to KES 120,000 per year depending on the sum assured and additional benefits selected.

Insurers Offering Life Insurance

Several reputable insurance providers in Kenya offer life insurance products:

• Jubilee Insurance
• Sanlam
• APA Insurance
• Heritage Insurance
• Old Mutual
• Britam
• GA Insurance