Whole Life Insurance
Whole life insurance is a permanent life insurance cover that gives you protection for the whole of your life. Whenever death occurs, your loved ones receive a lump-sum benefit together with any accrued bonuses, so they are not left financially vulnerable.
Unlike term life plans that expire after a fixed number of years, Whole Life is designed for permanence. It allows you to create an immediate estate for your dependants and gives you the comfort of knowing your family has a financial safety net in place for the long term.
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Why Choose Whole Life Insurance?
Lifetime Protection
Whole Life covers you for the whole of your life. The policy does not expire after a temporary term, it is designed to pay whenever death occurs, subject to the policy terms being met and the policy remaining in force.
A Guaranteed Inheritance Structure
On death, 100% of the policy sum assured plus accrued bonuses is paid to the nominated beneficiary, or to the estate where no beneficiary is nominated.
Critical Illness Protection
Get covered for 18 major illnesses. Upon first diagnosis (before age 65), you receive your critical illness benefit, up to Kshs. 15 million, to ease the financial strain.
Accident Protection
Add an Accident Benefit for an additional payout if death or total and permanent disability occurs due to an accident, up to 100% of your main policy sum assured.
Flexible Premium Terms
Choose to pay for 10, 15, or 20 years, or until age 60 or 65. Once all required premiums have been paid, no further premiums are payable, and cover continues for the rest of your life.
Joint Cover Option
Protect your spouse under the same plan. Benefits are paid on a first-death or first-diagnosis basis, ensuring both of you are covered under one coordinated policy arrangement.
No Medical Test
Get covered up to Kshs. 15 million without a medical exam. Where cover exceeds that threshold, the policyholder is required to undergo a medical assessment.
Tax Relief Advantage
Enjoy 15% tax relief on premiums paid, up to Kshs. 60,000 annually, subject to the Income Tax Act.
Annual Bonuses
The policy receives bonuses declared annually by the insurance company, credited after the first full calendar year. Bonuses are projected at 2.5% of the sum assured and accumulate alongside the death benefit.
How It Works
Choose your sum assured
Select a cover amount between Kshs. 1 million and Kshs. 500 million, or decide how much premium you can commit to.
Choose your premium term
Pay up to age 60, up to age 65, or for a fixed term of 10, 15, or 20 years.
Add optional benefits
Decide whether to include critical illness benefit and/or accident benefit for broader protection.
Policy commences
Once the insurance company receives and accepts your application and the first premium is paid, your cover begins.
Benefit is paid
If the policy remains active and the insured event occurs, the insurance company pays the applicable benefit in line with the policy terms.
Plan Structures
Choose the structure that best fits your protection goals.
Whole Life Cover
On death of the life assured, 100% of the policy sum assured plus accrued bonuses is paid to the nominated beneficiary.
- Optional Critical Illness Benefit: pays an extra sum assured on first diagnosis of a covered illness before age 65. Cover between Kshs. 1M and Kshs. 20M, but cannot exceed 50% of the main sum assured.
- Optional Accident Benefit: provides additional protection on accidental death or total and permanent disability before age 65. Cover between Kshs. 1M and Kshs. 20M, subject to not exceeding 100% of the main sum assured.
Whole Life with Accelerated Critical Illness
On first-time diagnosis of a covered critical illness, the insurance company pays 50% of the policy sum assured to the diagnosed life assured, capped at Kshs. 15 million. All future main benefit premiums due after the date of a qualifying diagnosis are waived.
- If no critical illness claim has been paid, 100% of the sum assured plus accrued bonuses is paid on death.
- If a critical illness claim has already been paid, the remaining 50% of the sum assured plus accrued bonuses is paid on death.
- Both Plan A and Plan B are available with the joint life option, covering you and your spouse under one policy.
Key Benefits
- 1100% of the sum assured + accrued bonuses paid upon death
- 2Critical illness payout made upon first diagnosis of a covered illness
- 3Double cover for accidental death or total and permanent disability
- 4Guaranteed lifelong protection
- 5Annual bonus additions that grow the value of your protection
- 6Tax benefits on premiums paid, 15% up to Kshs. 60,000 annually
Who Can Apply?
Entry Age
18 to 60 years
Minimum Cover
Kshs. 1M
Maximum Cover
Kshs. 500M
Free Cover Limit
Kshs. 15M
Premium Payment
Flexible Options
Payment Frequency
Monthly, quarterly, semi-annual, annual
Grace Period
90 days
Who Is Whole Life Ideal For?
Parents
Who want to create a guaranteed inheritance and continuity plan for their children.
Breadwinners
Whose families depend on their income and would be financially exposed in their absence.
Business Owners & Entrepreneurs
Who are building assets but also carry obligations and want to protect the family behind the business.
Professionals
Who are intentional about estate planning, intergenerational wealth, and financial order.
Couples
Who want to use the joint life option to protect each other under one policy.
People With Loans
Who do not want debt and disruption to fall on their dependants in their absence.
Important Exclusions
No benefits will be paid for:
- Suicide or self-inflicted injury within 2 years from policy commencement
- Any act constituting a violation of criminal law by you or a beneficiary
- Abuse of alcohol, inhalation of gas, overdose of drugs, or willful exposure to radioactivity
- Failure to seek or accept professionally recommended medical intervention for a known condition
- Active participation in war, terrorism, riots, or civil commotion (except for Kenya's disciplined forces)
- Active participation in mountaineering, horse riding, hunting, motor-racing, power-boat racing, or fighting (except in self-defense)
- Participation in aviation other than a scheduled passenger air service
- Failure to disclose or misstatement of material information requested by the insurer
Frequently Asked Questions
What is the difference between Whole Life and a term life policy?
Term life covers you for a fixed period (e.g., 10 or 20 years) and expires. Whole Life covers you for your entire life, whenever death occurs, the benefit is paid as long as the policy is active.
What coverage amount would you recommend for a family's protection needs?
This depends on your income, debts, number of dependants, and lifestyle. A common guideline is 10 to 15 times your annual income. We can help you calculate the right amount for your family.
Does Whole Life have cash value?
Whole Life insurance is primarily a protection product. The main benefit is the death cover and accrued bonuses. Speak to us for a full benefit illustration showing projected values.
Can I cover my spouse too?
Yes. The Joint Cover Option allows you to protect your spouse under the same policy. Benefits are paid on a first-death or first-diagnosis basis.
Is medical testing always required?
No. You can get covered up to Kshs. 15 million without a medical exam (the Free Cover Limit). If your cover exceeds this threshold, a medical assessment is required.
If I don't die during the premium term, is the sum assured paid to me?
No. Whole Life is a death benefit product, the sum assured and bonuses are paid to your beneficiaries upon your death, not at the end of the premium term.
What happens if I lose my job and can't pay the premium?
You have a 90-day grace period to make payment. If premiums are not paid within this period, the policy may lapse. Contact us as early as possible so we can explore your options.
Can the policy be used as loan collateral?
This depends on the insurance company's policy. Some insurers allow you to use your policy as collateral for a loan. Speak to us for more details.
When are annual bonuses paid out?
Bonuses are declared annually by the insurance company and credited after the first full calendar year. They accumulate alongside the death benefit and are paid when the claim is made.
Whole Life Insurance is offered subject to the insurance company's underwriting requirements, policy terms and conditions, applicable limits, and prevailing tax laws. Please speak to us for a personalised quotation and full benefit illustration. Bonus projections are at the discretion of the insurance company and may be higher or lower than 2.5%.
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