Britam Holdings Plc has introduced a new life insurance product aimed at helping Kenyans plan for the future, protect their wealth and support their loved ones over the long term.
The Britam Whole Life Insurance Plan offers lifetime cover, setting it apart from term insurance policies that run for a fixed period. Under the plan, the benefit paid to beneficiaries increases by 3 per cent every year to help maintain its value over time. All payouts under the policy, including death, disability and critical illness benefits, are tax-free.
The product is designed to give customers a clear and structured way to pass on wealth while reducing uncertainty for their families. It can also help cover costs that come up during succession and forms part of estate planning through Britam’s trust management services.
Customers have the option of naming Britam Trust as a beneficiary, allowing the funds to be managed under a structured trust arrangement. This setup makes it possible to outline how and when the money will be released to beneficiaries, giving policyholders more control over how their estate is handled.
Speaking during the launch, Britam Group Managing Director and CEO Tom Gitogo said the product is meant to go beyond basic protection.
“The Britam Whole Life Insurance Plan reflects our commitment to offering solutions that go beyond basic protection. It is designed to help customers leave something meaningful for the people they love, with cover that grows over time and lasts a lifetime,” he said.
The plan allows flexible premium payments, with options starting from KSh3,000 monthly over 10, 15 or 20 years, or a one-off payment. Medical checks are only required for policies above KSh15 million.
Customers can also include optional benefits such as permanent total disability, critical illness and funeral expense cover. The funeral benefit can go up to KSh500,000, providing additional support during difficult times.
Britam says the product adds to its range of long-term protection solutions and responds to rising demand for options that support wealth preservation, family security and smooth transfer of assets across generations.
“We listened to what customers and partners were telling us: they want protection that is accessible, lasting and built around real-life needs. This plan brings together lifetime cover, flexible payment options and simple entry requirements in a way that supports legacy planning,” Gitogo added.
