Group Life Assurance in Kenya
Employer-sponsored lump-sum life cover for staff under IRA Class 03.
What does Group Life Assurance cover?
Group life schemes pay a multiple of annual salary (typically 3–5×) to the family of an employee who dies while in service. Cover is automatic for all members of the group with no individual medical underwriting.
Who needs Group Life Assurance?
Employers, SACCOs, professional associations and other groups looking to provide a death benefit to members at a low per-head cost.
Examples of Group Life Assurance policies in Kenya
- Corporate group life scheme
- SACCO member life cover
- Trade union member benefits
Frequently asked questions
Who pays the premium for group life cover?
Usually the employer or scheme sponsor pays 100% of the premium and the benefit is paid to the deceased employee's beneficiaries.
Regulation
Group Life Assurance is licensed under Class 03 of the Insurance Act (Cap 487) and supervised by the Insurance Regulatory Authority (IRA). Only insurers holding a current Class 03 licence may underwrite this cover in Kenya.