Life insurance in Kenya — policies and licensed insurers

Short answerChecked 23 September 2026

Life insurance in Kenya is sold by 22 long-term insurers licensed by IRA for 2026, and it is the fastest-growing part of the market: life premiums reached KES 235.39 billion in 2025, up 23.1%. Kenyan law does not give a general cooling-off period for life policies, so ask the insurer, in writing, whether you can cancel and get a refund.

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Answers come from the law, the regulator and the insurers' own documents, with the source under each answer. General information, not advice.

What should I check before I buy cover?What is an excess?How do I prepare a claim?

The main types of life policy

Type	What it does	Good for
Term life	Pays a lump sum if you die during the term	Protecting a family or a loan at low cost
Whole life / last expense	Pays whenever you die, as long as premiums are paid	Funeral costs, inheritance
Education policy	Saves towards school or university fees, often with cover if the parent dies	Planning children's education
Endowment / savings	Pays at the end of the term, or earlier on death	Medium-term savings
Credit life	Repays a loan if the borrower dies	Often required by banks and SACCOs

What to check before you sign

The insurer holds a long-term licence on the IRA list.
What happens if you stop paying: the grace period, lapse, and the surrender value.
For savings and education policies, how returns are calculated and what is guaranteed.
Whether you can cancel a new policy and get the premium back, and within how many days — ask for it in writing.
Who your beneficiaries are, and keep the policy documents where your family can find them.

IRA publishes its consumer principles under Treating Customers Fairly.

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Frequently asked questions

How many life insurance companies are there in Kenya?

22 long-term insurers are licensed by IRA for 2026, according to its notice dated 30 March 2026.

Is there a cooling-off period for life insurance in Kenya?

We found none in the Insurance Act or the Insurance Regulations. Ask the insurer whether it offers one, and get the answer in writing before you sign.