Life Insurance Companies in Kenya

1. Is it a whole life product? The insurer pays a predetermined amount to the dependants after the insured has passed on. And the insured still enjoys some benefits while still alive.
2. Is it a term product? In force for 10-25 years or until you cancel it. In this case, if the years pass on without you passing on then the cover lapses and premium not returned.
3. Is it an endowment? It has dual benefits, in case I die, the accrued premiums, gains and bonuses pass on to my dependants. If not by the end of insurance period, you get all the benefits as stipulated.
4. Is it a money back policy? Where the insured receives periodic payment of the sum to be paid out in the eventuality of death and the beneficiaries receive it in full incase the insured passes on.
5. Is it an annuity? This comes at the age 55 and above. It provides an option of taking an annuity plan where you can receive a monthly or annual income once you reach that age. The options, a fixed regular income until you passes on. Fixed incomes until you pass on or say 10 years whichever is longer. What of an increasing regular income to cushion against inflation or joint life, for you and your spouse to continue enjoying the income even when you pass on.

It is advisable to be on cover with reputable life insurance companies in Kenya with a product that will safeguard you and your family against the unforeseen and the unplanned.