Life insurance provides financial security for your family and dependents in case of death, disability, or critical illness. It ensures that your loved ones are protected from financial burdens by offering lump sum payouts, income replacement, and funeral expense coverage.
Types of Life Insurance in Kenya
1️. Term Life Insurance
- Provides coverage for a specified period (e.g., 5, 10, or 20 years).
- Pays a lump sum to beneficiaries if the policyholder passes away within the term.
- Affordable with flexible premium options.
2️. Whole Life Insurance
- Lifelong coverage with guaranteed benefits.
- Builds cash value over time, which can be borrowed against.
- Ensures long-term financial security for dependents.
3️. Endowment Life Insurance
- Offers a combination of savings and protection.
- Pays out a lump sum if the policyholder survives the policy term.
- Ideal for education, retirement planning, or wealth accumulation.
4️. Group Life Insurance
- Covers employees or members of an organization.
- Provides financial security for dependents in case of death or disability.
- Often includes additional benefits like funeral and medical expenses.
5️. Education Life Insurance
- A savings plan to secure a child’s education in case of the parent’s death or disability.
- Ensures continuous learning even in unforeseen circumstances.
Key Benefits of Life Insurance in Kenya
- Financial Security – Provides financial support to dependents after the policyholder’s death.
- Income Replacement – Ensures family members can maintain their standard of living.
- Funeral & Last Expense Cover – Covers burial and funeral expenses.
- Cash Value & Savings – Some policies accumulate savings over time.
- Tax Benefits – Tax relief of a certain percentage are offered for some type of policies throughout the period. Cash payouts are also given tax free.
- Critical Illness & Disability Cover – Optional riders for added protection.
Why You Need Life Insurance in Kenya
- Protect your family from financial hardships.
- Plan for your children’s education and future.
- Build long-term savings and wealth.
- Secure your retirement with guaranteed payouts.
Life is unpredictable, ensure your loved ones are protected. Compare affordable life insurance policies in Kenya and choose a plan that suits your needs. Start securing your future now!