NAIROBI, Kenya, Apr 21 – Britam has launched a new insurance product aimed at Kenyan households seeking long-term financial security and structured wealth transfer across generations.
The insurer has unveiled the Britam Whole Life Insurance Plan, a permanent life cover solution designed to help customers build financial legacies, protect dependents, and manage orderly succession of assets.
Unlike term insurance policies that expire after a fixed period, the new plan provides lifetime cover, with benefits paid to beneficiaries increasing by 3 percent annually to help preserve value amid changing economic conditions.
Britam says all benefits under the policy—including death, disability, and critical illness payouts—are tax-free, positioning the product as both a protection tool and a long-term wealth preservation instrument.
The insurer is also integrating the product into estate planning, allowing policyholders to designate Britam Trust as a beneficiary. This enables funds to be managed through a structured trust arrangement.
Under this model, clients can set conditions on how and when beneficiaries access funds, as well as how payouts are distributed, giving families greater control over inheritance planning and reducing succession disputes.
“The Britam Whole Life Insurance Plan reflects our commitment to offering solutions that go beyond basic protection,” said Managing Director Tom Gitogo.
“It is designed to help customers leave something meaningful for the people they love, with cover that grows over time and lasts a lifetime.”
The plan offers flexible payment options, including monthly premiums starting from Sh3,000 payable over 10, 15, or 20 years, as well as a single lump-sum payment option, allowing customers to align contributions with their income and financial goals.
Medical underwriting is only required for cover above Sh15 million, a move aimed at expanding access to a wider customer base.
Customers can also add optional benefits such as permanent total disability cover, critical illness cover, and funeral expense cover. The last expense benefit offers up to Sh500,000 to support immediate costs during bereavement.
Britam said the product responds to growing demand for insurance solutions that combine protection with wealth planning, particularly among middle- and upper-income households focused on intergenerational wealth transfer and financial stability.
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