KCB Bank, Liberty Life Launch Education & Life Insurance Plan dubbed #KCBElimisha

Kenyan-Collective-KCB-Liberty-Life-Insurance

What’s the first thing that comes to your mind when you think about insurance? Life insurance comes down to the fact that it is a step taken to protect, care and safeguard for the future. No matter what happens to you, you are assured of enough security for your family in uncertain situations.

So why doesn’t everyone have insurance? One of the most popular reasons is “I don’t quite need it right now, I mean it’s too expensive and isn’t that for sick and old people?” The truth of the matter is, life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a nicely brewed cup of coffee and with innovation, there are specific insurance products – just as there are many insurance products for adults in their working years. So, if something happens to you, are you aptly prepared?
Kenyan-Collective-KCB-Liberty-Life-Insurance
This week, KCB Bank Kenya entered into a strategic partnership with Liberty Life Insurance to offer an education savings plan dubbed KCB Elimisha, deepening the lender’s foray into Bancassurance.

 

The plan to be rolled out by KCB Insurance Agency—the Bank’s Bancassurance arm- will see KCB venture into the country’s education sector by offering an affordable insurance savings product.

The partnership is mainly set to benefit parents as they look into saving for quality education for their children.

The proposition is pegged on an array of benefits such as 15% premium discount on second life insured, flexible payment schedule with a discounted premium on quarterly, semi-annual and annual payment. The policy is also flexible with options on upgrade, downgrade and premium escalation.

Kenyan-Collective-KCB-Liberty-Life-Insurance

KCB Elimisha is crafted to cut across social classes and includes the lowest minimum premium payment in the market for similar solutions. Other key benefits of the plan include a life cover and total and permanent disability of the life assured due to an accident where in such an instance, the policy will remain in force for the remaining benefits. The plan has terms ranging from 5 to 20 years with the sum assured option (the amount of money that the policy holder will receive) ranging from Kshs. 50,000 to Kshs. 40M.

Kenyan-Collective-KCB-Liberty-Life-Insurance

“We are expanding our range of financial solutions with an eye on supporting customers in all their needs. We are reimagining the education sector which is one of the frontiers for future growth,” KCB Group Chief Executive Officer Joshua Oigara.

“This collaboration will enable KCB to continue serving its clients in various business segments as well as play a crucial role in contributing towards securing the future of our children through a comprehensive product proposition,” he said.

Liberty Life Assurance Managing Director, Abel Munda emphasized on financial planning as the first step to actualizing your children’s dreams. “At Liberty Life we believe in enhancing access to financial solutions that are all inclusive. KCB Elimisha therefore comes as a relief to those parents who have always dreamt of providing a good education for their children, the undeniable right that will ultimately secure their future”, noted Munda.

The partnership comes at a critical time when insurance companies are seeking innovative ways to grow their market share and remain relevant to their clientele. KCB Insurance Agency is also enhancing its offering and customer experience by tapping into the education policy, illustrating the mutual value that both partners envisage.

LEAVE A REPLY

Please enter your comment!
Please enter your name here