Individual & Family Life Cover
Financial protection that secures your loved ones’ future, no matter what happens.
Did you know that a healthy 30-35 year-old Kenyan can secure a KES 20 million life insurance cover for as little as KES 8000 – KES 15000 per month? This means that if the unthinkable happens, your family receives a life-changing lump sum.
Life insurance is significantly more affordable when you’re younger because insurers assess risk based on age and health. The earlier you start, the lower your premiums — you get to lock in that pricing throughout the premium paying term. Waiting even a few years can noticeably increase the cost. Whether you’re a young professional just starting out, a parent with school-going children, or a business owner with dependants relying on your income, a life cover policy is the foundation of sound financial planning.
At Aiva Insurance Agency, we connect you with Kenya’s leading life insurers to structure a policy that fits your life, your income, and your goals.
Why You Need A Life Insurance cover
Life is unpredictable, but your family’s financial future shouldn’t be. In the event of premature death, a life insurance policy provides a financial safety net — a lump sum, tax-free payment to your dependants — as long as all premiums are up to date. Without it, even a family that appears financially stable can struggle within months of losing their primary earner. This often means relying on contributions (“harambees”) just to meet urgent financial obligations during an already difficult time.
A structured life insurance plan ensures:
- Financial security for your dependents
- Immediate access to funds after loss
- Protection from outstanding debts and liabilities
- Continuity of your children’s education and lifestyle
- Coverage for funeral and final expenses
- Long-term wealth protection and legacy planning
This would mean :
- Your family can maintain their standard of living if you pass on
- School fees, rent, and loans are covered even in your absence
- Your dependants receive a tax-free lump sum payout
- Your debts and liabilities don’t become your family’s burden
- Your legacy and estate are protected for future generations
Individual & Family Life Cover
Who This Plan Is For
Who Should Consider This Cover?
This plan is ideal for:
- Young professionals locking in low premiums early
- Parents and breadwinners who want their children to be provided for after their death
- Business partners can take up life insurance to protect each others financial interest in the business, to ensure financial continuity
- Anyone who wishes to build generational wealth
- Individuals with loans, mortgages, or liabilities
- Couples can take up life insurance to protect each others income
Coverage
WHAT’S COVERED
01.
Core Benefits
- Lump Sum Death Benefit
- Accidental Death Benefit (Enhanced Payout)
- Total & Permanent Disability Cover
- Funeral Expense
- Flexible Policy Terms (10–30 years or whole life)
- Premium Payment Flexibility (Monthly/Annual)
01.
Optional Enhancements
- Critical Illness Rider (Cancer, Stroke, Heart Attack)
- Terminal Illness Benefit
- Inflation Protection (increasing cover over time)
- Cash Value Accumulation (for permanent plans)
What Determines Your Premium?
Your life insurance premium is influenced various factors, for instance, a healthy individual in their late 20s will pay significantly less than someone in their 40s for the same KSh 20M cover. Smokers or individuals with pre-existing conditions may pay higher premiums:
Other factors affecting your premium include:
- Age (younger = lower premiums)
- Health condition and medical history
- Lifestyle (e.g. smoking, occupation risk)
- Coverage amount (sum assured)
- Policy term (duration of cover)
- Type of policy (term vs whole life)
- Selected riders and add-ons
We help structure coverage to balance affordability and protection.
Frequently Asked Questions
What is the difference between term life and whole life insurance?
Term life insurance provides cover for a specific period (e.g. 10–30 years) and is more affordable. Whole life insurance covers you for your entire lifetime and may include a savings or investment component.
How much life cover do I actually need?
A general rule of thumb is 5–10 times your annual income. For example, if you earn KES 150,000 per month, a cover of KES 9–18 million would be a reasonable target. The right amount also factors in your outstanding debts, number of dependants, and how many years your family would need financial support. We’ll help you work this out during your consultation.
Is life insurance cheaper when you're younger?
Yes — significantly. A 25-year-old in good health can secure the same KES 20 million cover for a fraction of what a 45-year-old would pay. Younger individuals pay lower premiums because they are considered lower risk by insurers. Every year you delay, your premiums increase — locking in early is one of the smartest financial decisions you can make.
Are the payouts to my family taxed?
All benefits paid to your beneficiaries upon death are paid out tax-free. Additionally, you may be eligible for a tax relief of up to 15% on your premiums paid, capped at KES 5,000 per month — a benefit you can claim during your annual tax filing on policies longer than 10 years.
Can I use my life insurance policy as loan collateral?
No, however, you can assign your policy to a financier, i.e making them the beneficiary for as long as you have a loan. Once you clear your loan, you should remember to update your beneficiary
What happens if I miss a premium payment?
Most insurers will continue to provide cover so long as your outstanding premium amount is equivalent to less than 3 months premiums. If the grace period lapses, your policy may be suspended or lapse entirely. Reinstatement is usually possible within a set period, subject to the insurer’s conditions. We actively monitor client policies and send renewal and payment reminders to help you stay protected.
Can I include my spouse and children?
You and your spouse can take up a joint life insurance cover where both of you will be on cover, You can however, not take up a life insurance on the life of a child. Funeral expense covers are the only form of life insurance whereby one can receive a payment in the event of a childs death, but limited to KES 100,000.
Do I need a medical check-up to get covered?
For higher coverage amounts, medical underwriting may be required. However, some policies offer simplified or no-medical options depending on your age and the sum assured.
What happens if I don’t die during the policy term?
For term policies, the cover simply expires unless you have a return-of-premium option. For whole life or investment-linked policies, there may be a maturity or cash value benefit.