Britam Holdings Plc has introduced a new life insurance product aimed at helping Kenyans secure their families’ future and plan how their wealth is passed on.
Launched in Nairobi on Tuesday, the Britam Whole Life Insurance Plan offers lifetime cover, marking a shift from traditional term policies that expire after a fixed period. Under the plan, the payout to beneficiaries increases by 3 per cent annually, a feature the company says is meant to protect the value of the cover over time.
Speaking during the launch, Group Managing Director and CEO Tom Gitogo said the product is designed to give policyholders a structured and reliable way to leave something behind for their families.
He explained that unlike short-term policies, the whole life plan guarantees a payout whenever the policyholder dies, providing what he described as “a definite base” for future generations.
“If, for example, you are targeting a sum assured of KSh5 million, that becomes the starting point for your children or grandchildren. And every year you survive, that amount grows by 3 per cent,” Gitogo said in a side interview.
The policy allows customers to choose how they pay their premiums either as a one-off payment, annually, or through monthly instalments. According to Gitogo, this flexibility is meant to accommodate different income patterns, especially for Kenyans earning regular salaries or running businesses.
He noted that some clients prefer to pay once and “forget about it,” while others opt for smaller, consistent payments over time.
Beyond the payout, Britam says the plan also supports estate planning. Customers can name Britam Trust as a beneficiary, allowing the funds to be managed under a structured trust arrangement. This means policyholders can give clear instructions on how and when their beneficiaries receive the money.
The company says this approach helps reduce uncertainty during succession and ensures dependents are supported in a more organised way.
Gitogo added that the product is structured to make premiums more affordable compared to some existing life insurance options in the market.
“Because this benefit is only paid when you pass on, and not during your lifetime, we are able to offer lower premiums for relatively higher sums assured,” he said.
He also pointed to low insurance uptake in Kenya, saying the new product is designed to respond to that gap by offering a simpler and more practical solution.
“It is a sure way of making sure the work you are doing today becomes the foundation for your future generation. Many people start from scratch, but this gives them a chance to set their families on a better path,” he said.
The plan includes optional add-ons such as permanent disability, critical illness and funeral expense cover, with the last expense benefit going up to KSh500,000. Medical checks are only required for policies exceeding KSh15 million.
Britam says the new offering is part of its broader push to expand long-term financial protection products as more Kenyans seek ways to secure their families and manage wealth across generations.
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