ABC Insurance Brokers, a unit of the ABC Bank & Group, has reportedly teamed up with Prudential Insurance to roll out a life insurance offering in Kenya.
Dubbed Kwaheri Plan, this new offering is a life insurance cover payable in the event of death to meet burial expenses. It is said to offer coverage for up to 10 family members including parents and in-laws.
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The lunch of the new product is part of ABC Bank Group’s strategy to provide its customers with a range of services that cater to their financial requirements, such as savings, investments, and insurance, among others.
ABC Bank Group managing director Shamaz Savani said: “ABC Bank & Group aspires to be a one-stop-shop for all our customers’ financial needs to give a holistic customer experience banking with us.
“We are proud to partner with Prudential Insurance to offer our customers a life cover that will ensure they have peace of mind especially during turbulent times such as we are in now, facing the Covid pandemic. The ABC Kwaheri Plan is a unique solution offering an affordable insurance cover and access to professional insurance advisory.”
The new policy offered at starting price of KES2,500 per year.
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By GlobalDataCommenting on the development, Prudential Insurance Kenya CEO Raxit Soni said: “Life insurance products such as the ABC Kwaheri Plan enable customers to have peace of mind that their loved ones are taken care of, ensuring that those left behind are not burdened by funeral expenses and other costs.”
