SanlamAllianz Life Insurance Kenya has launched a new long-term savings and life insurance product as it seeks to tap growing demand among Kenyans for financial planning solutions that combine wealth creation with insurance protection.
The insurer on Friday unveiled Flexi Future Plus, a goal-based endowment plan that enables customers to save towards long-term objectives such as education, retirement and home ownership while enjoying guaranteed maturity benefits and life insurance cover.
The product allows customers to choose policy terms ranging from five to 17 years, make either regular or one-off premium payments, and receive their maturity benefits either as a lump sum or in up to three annual instalments.
Policyholders can also enhance their cover with optional benefits including protection against critical illness, permanent disability, retrenchment and family-related risks.
SanlamAllianz Life Insurance Kenya Chief Executive Officer Jacqueline Karasha said the product was developed to address the need for simple and reliable long-term savings solutions that also provide financial protection.
“Many people have financial goals but need a simple and reliable way to achieve them. Flexi Future Plus gives our customers the flexibility to save at their own pace while enjoying the security of guaranteed benefits and insurance protection,” she said.
She added that the product is designed to support customers saving for key milestones such as children’s education, retirement or other long-term financial goals while providing peace of mind through insurance protection.
The launch comes as insurers increasingly diversify beyond traditional life cover into savings and investment-linked products to attract customers seeking structured wealth accumulation amid rising living costs and greater awareness of financial planning.
SanlamAllianz said the product offers guaranteed returns at maturity while allowing customers to adjust their cover as their financial circumstances change over time.
Group Chief Executive Officer Dr Patrick Nyamemba Tumbo said the insurer was focused on making financial security more accessible through customer-centred products.
“Flexi Future Plus is another example of how we are developing solutions that empower individuals and families to achieve their financial aspirations with confidence. By combining wealth creation with financial protection, we are helping our customers prepare for tomorrow while navigating today’s realities,” he said.
In addition to savings and insurance benefits, the product offers discounts for customers who pay premiums on a non-monthly basis, premium holidays, tax relief on qualifying policies, access to policy loans and the flexibility to revise policy benefits during the life of the policy.
The launch expands SanlamAllianz Life Insurance Kenya’s portfolio of savings and protection products as competition intensifies among insurers to capture a larger share of Kenya’s growing long-term savings market.
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