Prudential Life Assurance Ltd has launched their new policy dabbed Pru-Dahari Dumu, the first insurance product in Kenya with a “Never Lapse Guarantee” which will see customer enjoy all benefits after paying their first six months premium.
“At Prudential we understand that when times get tough and your finances are strained, maintaining fixed monthly premiums sometimes isn’t possible. That’s why we are introducing the “Never Lapse Guarantee”. Customers won’t lose their savings if they fall behind with their payments and can resume paying whenever they’re back on their feet, with the option of catching-up on missed premiums to get the maximum benefit from their policy.” Said Prudential Kenya Chief Executive Officer Andrew Greenwood.
Mr Greenwood also added that the minimum premiums will start from Sh2,500 for covers worth from Sh100,000 to Sh20,000,00 saved over 5-10 month.
At the same time Prudential will also be rewarding loyal customers who pay each & every month. For each year of the policy, if you pay all 12 months’ premiums, we’ll give you back the 12th premium. Alternatively, if you pay 11 months’ premiums, we’ll give you the 12th premium free.
“We are committed to helping Kenyans build better futures by offering innovative and affordable products that meet their needs.’’ Mr Andrew Greenwood said.
This comes even as insurance premiums across Africa were expected to go up by up to 3 per cent in 2018 according to PricewaterhouseCoopers (PWC) report.
Kenyan insurance uptake remains low at only 2.83 per cent despite leading her East African counterpart Uganda and Tanzania.
