Akiba Savings Plan is one of the best savings plans from Britam Insurance. You will be paid lump sum amount when your savings mature. In case of death the full benefits are also paid. If you save Ksh 3 million, you will earn a lump sum amount of more than Ksh 6 million.

  1. Issue Ages and term
    1. Issue ages of the Insured:
      1. Minimum entry age18
      1. Maximum entry age 65 years.
      1. Max Age on cover is 70 yrs.

Term: 5-12 Years

1)  With Medicals

  • No Maximum sum assured for with Medical option
  • No Waiting period
  • Without Medicals
  • Maximum sum assured for lien option is Kshs.5,000,000
  • One year waiting period  for natural death.
  • 100% benefit will be payable immediately on accidental death.


        Maturity benefit – Guaranteed payment of 100% of the maturity value at the end of the term which is the sum assured.

        Free inbuilt Waiver of premium on death of the policy owner – the company will waive premiums in event of unfortunate demise of policy owner during the term of this policy and keep the policy in force until maturity

        Optional lump sum death cover – pays the lump sum benefit in the event of death of the assured life. The death benefit should not be more than the sum assured which is the main benefit

        Surrender benefits – standard non forfeiture options after 25 months

        Tax relief:-Tax relief will be eligible for policies of 10 years and above

Non-forfeiture options

Cash surrender Value – Policy may be surrendered after being in-force for at least 2 years(25 months). Payment is made to policy owner and will cause the contract to terminate.

Policy Loan – Policy loans available from 25th month

Automatic Paid-Up – If the policy is older than 24 months (2) years, the policy will automatically be converted to paid up (with a reduced sum assured)

Customer initiated Paid-up-If the policy is older than 24 months (2) years the policy can be converted to a reduced Paid-up (with a reduced sum assured). The reduced amount of insurance shall be calculated using the reduced paid-up sum assured rates table for this Policy.

On converting to paid-up….

The Maturity Benefit shall be based on the reduced paid-up sum assured;

The Death Benefit shall no longer be applicable;

The Policy may be reinstated as provided for under the Premium Provisions section of this Policy;

The Policy cannot be surrendered while it is in reduced Paid-up status.

The Cash Surrender and Reduced Paid-Up Non-Forfeiture options can only be exercised from the first day of the 25th month of the Policy.


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January 31, 2024

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