Bima Account – Insurance Savings Account Kenya & Flexible Life Insurance Kenya | FamilyFutureKenya

Why Choose Bima Account?

The Bima Account is Kenya’s most flexible insurance savings account. It combines your long-term savings with built-in life cover and annual bonus interest—so your money works harder and your family stays protected from Day 1.

💰 Savings & Growth

  • Flexible Deposits: Start with KES 100,000, then add any amount in multiples of KES 10,000 at any time.
  • Competitive Returns: Earn a base interest rate plus Bonus Interest, all tax‐free.
  • No Lock-In Period: Grow your money on your schedule—withdrawals allowed after the first year (see details below).

🛡️ Protection & Cover

  • Instant Life Cover: From Day 1, your loved ones are protected—no waiting period.
  • Coverage Multiplied: Ages 18–60: 3× your single deposit or 15× your annual installment. Ages 61–70: 1.25× single or 6.25× annual.
  • Maximum Cover: Up to KES 500,000 per policy, with an aggregate limit of KES 10 million across all your Bima Account policies.
  • Open to All: Individuals aged 18–65, chamas, saccos, and businesses can join.

💧 Liquidity & Flexibility

  • Easy Withdrawals: After 12 months, withdraw funds at any time with no penalties. Before 12 months, a small admin fee applies.
  • Loan Facility: Borrow up to 80% of your accumulated fund (after 2 policy years) at “last declared rate + 3%.”
  • Top-Up Anytime: Increase your deposit in multiples of KES 10,000—no need to open a new policy.

📱 Digital Convenience

  • Online & Mobile Access: Check balances, deposit, withdraw, or adjust coverage via our secure portal or app.
  • 24/7 Support: Call, WhatsApp, or visit any branch—our advisors are always ready to help.
  • Paperless Enrollment: Open your Bima Account in minutes with minimal documentation.

Bima Account Plan Details

Who’s Eligible?

Anyone aged 18 to 65 (Kenyan nationals or Indian expats) can open a Bima Account. The maximum maturity age is 70.

Minimum Deposit & Payment Modes

Returns & Bonus Interest

Your premiums (minus charges) are pooled into the Policyholders’ Account and invested prudently. We declare fund growth once a year, which is then compounded. For example, the 2022 declared return was 11%. Actual bonus rates vary annually based on performance.

Policy Term Options

Choose a term of 10 years, 15 years, or 20 years. You can adjust your premium contributions or riders anytime, subject to underwriting.

Life Cover Formula

Death Benefit

If the policyholder dies during the policy term, the nominees receive the full sum assured plus any accumulated fund value in your account—guaranteed.

Loan Facility

After your Bima Account has been in force for 2 years, you can borrow up to 80% of the accumulated fund value at a rate of “last declared return + 3%”. Use these funds for business, education, or emergencies without surrendering your policy.

Early Withdrawal

Withdrawals are permitted after policy completion of 2 years (once charges & premiums are appropriated). If you withdraw before 12 months, a small administrative fee applies. After the first year, withdrawals are 100% penalty-free, and your life cover remains intact on the remaining balance.

Frequently Asked Questions

The Bima Account is a hybrid insurance savings account that lets you deposit funds, earn competitive interest plus annual bonuses (2022 rate: 11%), and enjoy flexible life cover from Day 1. It combines the advantages of a savings plan with built-in life insurance and easy liquidity.

Anyone aged 18 to 65 can open a Bima Account—this includes individual citizens, Indian expats, chamas, saccos, and businesses. The maximum maturity age must not exceed 70. Simply submit an online form or visit a branch with valid ID.

Minimum deposit: KES 100,000. You can pay this as a single lump sum or as 5 equal annual installments of KES 20,000 each. Top-up: After opening, you can add funds anytime in multiples of KES 10,000. There is no upper limit—just let us know the amount, and your life cover and bonuses adjust automatically.

Your premiums (minus deductions) are invested in stable, income-generating instruments. We declare fund growth annually — in 2022, the declared return was 11%. Past performance doesn’t guarantee future rates, but Bima Account consistently targets a 4%–6% base return plus a bonus based on overall fund performance.

From the moment you make your first deposit, your family is protected.
  • Ages 18–60: Cover = 3× your single deposit OR 15× your annual installment.
  • Ages 61–70: Cover = 1.25× your single deposit OR 6.25× your annual installment.
  • Maximum risk cover: KES 500,000 per policy. You can hold multiple policies, with an aggregate cap of KES 10 million across all policies on one life.
If you already have Bima Account policies totaling KES 1 million in risk cover, any new policy’s maximum cover is capped at KES 100,000.

Withdrawals: Allowed after 2 policy years (all charges and risk premiums must be appropriated first). If you withdraw within the first 12 months, a small administrative fee applies. After 1 year, withdrawals are penalty-free, and your life cover remains on the remaining balance. Loan facility: After 2 years, you can borrow up to 80% of the accumulated fund value at “last declared return + 3%.” For example, if your fund value is KES 200,000 and the last declared return was 11%, your loan interest would be 14% (11% + 3%).

There are no hidden fees.
  • If you withdraw before completing 2 policy years, a small admin fee is deducted.
  • After 2 years, withdrawals and loans are penalty-free.
  • Nominal charges apply annually to maintain your life cover (e.g., KES 4 per KES 1,000 sum assured for ages 18–40).
Our advisors will walk you through all charges upfront—no surprises.

Signing up is simple:
  • Fill out the online form below (or click “Get a Quote”).
  • We’ll call you within 24 hours to finalize your details (digital KYC). No lengthy paperwork.
  • Pay your first deposit (KES 100,000 lump sum or 5 × KES 20,000 installations) in person, mobile money, or bank transfer.
  • Start earning returns immediately—your life cover is active once we receive your deposit.

Rated among the best insurance savings account Kenya—4.9/5 from 18+ happy families.

What Clients Say About Bima Account

Ready to Grow with an Insurance Savings Account Kenya?

Let our advisors help you open your Bima Account. Quick, easy, and tailored to your goals.

  • Start with as little as KES 100000 in our insurance savings account Kenya.
  • Enjoy flexible life insurance Kenya—instant cover on first deposit.
  • Withdraw or top up anytime with zero lock-in, plus earn annual bonus interest Kenya.