Commonly asked questions
- What types of insurance should I consider in Kenya?
Indians in Kenya often prioritize life insurance, health insurance, vehicle insurance, and property insurance. These policies offer essential financial protection for individuals and families. - How does life insurance work in Kenya?
Life insurance provides financial security to your family in case of your death. Depending on the policy, it can offer a lump-sum payout, periodic survival benefits, or both. Some plans also include additional riders for enhanced coverage. - What are survival benefits in a life insurance policy?
Survival benefits are payouts made to the policyholder at regular intervals during the policy term. These help in achieving financial goals, such as funding children’s education, investing in a business, or other needs. - What are riders in insurance, and should I add them?
Riders are additional features you can include in your policy for extra benefits, such as Double Accident Benefit (D.A.B.) or Waiver of Premium (W.O.P.). Adding riders depends on your needs and financial goals. - Can I get life insurance without a medical test?
Yes, some policies offer extended non-medical facilities, which allow you to get coverage without undergoing medical examinations. These are ideal for individuals seeking hassle-free enrollment. - How does health insurance work in Kenya?
Health insurance covers medical expenses, including doctor visits, hospitalization, and prescribed medications. Some plans also offer cashless treatments at network hospitals. - How much life insurance coverage do I need?
Your coverage should be sufficient to cover your family’s living expenses, outstanding debts, and future financial goals. A rule of thumb is to choose coverage 10-15 times your annual income. - Are insurance premiums in Kenya tax-deductible?
Yes, life insurance premiums are often eligible for tax deductions in Kenya, helping you save money while securing your future. Confirm specific benefits with your insurance provider. - What happens if I miss paying my premiums?
Most policies offer a grace period, usually 30 days, during which you can pay the premium without penalties. If the grace period lapses, the policy may lapse or convert to a reduced paid-up policy, depending on the terms.