Term Life Assurance
Affordable pure life cover for a fixed term — pays a lump sum to your beneficiaries if you pass away during the policy period.
Term life assurance is the simplest and cheapest form of life cover — a fixed term (5, 10, 20, or 30 years), a fixed sum assured, and a fixed premium. If you die during the term, your beneficiaries receive the lump sum. If you survive the term, the policy expires with no payout. It is pure protection, nothing more, and the right structure for most Kenyans whose primary need is to leave their family financially secure if the worst happens.
Vike compares term assurance from CIC Life, Britam, Jubilee Life, Old Mutual, ICEA Lion, Liberty, Kenindia, and Madison. We focus on getting the sum assured right — typically 8–12 times annual income for a primary breadwinner — and on choosing the right rider mix (critical illness, disability waiver, accidental death) rather than chasing the absolute lowest premium.
What It Covers
Lump sum payable to beneficiaries on death during the term
Cover for death from any cause (subject to standard exclusions and waiting period)
Critical illness rider — early payout on diagnosis of heart attack, stroke, cancer, etc.
Total Permanent Disability (TPD) rider — payout if you cannot work again
Premium waiver on disability — policy stays in force without further premiums
Accidental death benefit — increased payout if death is by accident
Funeral expenses advance to beneficiaries (most products)
Convertibility to whole life or endowment without further underwriting (selected products)
Who It's For
Primary breadwinners with financial dependants
Mortgage and business loan borrowers protecting the debt
Self-employed Kenyans without employer-provided life cover
Parents with school-age children — covering education runway
Spouses planning equally for either of them dying first
Types We Cover
Each profile is rated and underwritten differently. Talk to us so we can match your specific situation.
Level Term
Sum assured stays the same for the full policy term. The standard structure for most needs. Premium is fixed throughout.
Decreasing Term
Sum assured reduces over the term — typically matched to a mortgage or loan amortisation. Cheaper than level term. Useful where the financial need declines over time.
Increasing Term
Sum assured increases each year (typically with inflation). More expensive but maintains real-value protection over long terms.
Convertible Term
Includes an option to convert to whole-of-life or endowment cover during the term without further medical underwriting. Useful where life circumstances are likely to change.
Joint-Life First Death
Covers two lives (typically spouses or business partners) and pays out on the first death. Cheaper than two separate policies. Cover ends after the first claim.
Real-World Scenarios
Sole earner aged 35 with two young children
A KES 5M sum assured, 25-year level term would pay the family a lump sum to replace lost income, settle the mortgage, and fund education runway. Annual premium typically KES 24,000–48,000 depending on health and smoker status. The single most cost-effective family protection most parents can buy.
Business loan protection
A decreasing term policy with sum assured matching the loan balance ensures the business is not crippled if the founder dies before the loan is repaid. The bank is named as the beneficiary (or assignee) — significantly cheaper than the lender's tied credit life product.
Critical illness diagnosis
A policyholder is diagnosed with cancer. The critical illness rider (typically 50–100% of the sum assured) pays out on diagnosis confirmation, helping fund treatment that may not be fully covered by medical insurance, plus income replacement during recovery.
Optional Benefits & Add-ons
Critical illness — payout on diagnosis of specified conditions
Total Permanent Disability (TPD)
Premium waiver on disability
Accidental death and dismemberment
Funeral expenses advance
Children's life and education benefit rider
Availability varies by underwriter. Our advisors will confirm what is available on your chosen policy.
Frequently Asked Questions
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