Britam Unveils Insurance Product for Pastors

Britam has launched a new insurance product that is meant to benefit pastors and churches in general.

The new insurance product dubbed ‘Chunga Mchungaji’ comes with a 500,000 shillings’ inpatient cover, a maternity cover of up to 30,000 shillings, accident cover of 200,000 shillings and the last expense cover of 40,000 shillings for an annual premium of 8,700 shillings.

Britam signed a deal with the church-backed SMEP microfinance bank with an eye on nearly 10,000 pastors aligned to National Council of Churches of Kenya (NCCK) to sign up for the cover.

Through Chunga Mchungaji, Pastors will be able to be contributing 725 shilling towards a monthly medical cover.

NCCK Secretary General Canon Peter Karanja said the cover will help pastors to settle medical bills without turning to the flock for cash donations

Insurance penetration, the ratio of the value of insurance premiums to GDP, is less than three percent in Kenya. Britam is targeting annual premiums of 100 million shillings from the pastors cover.

Britam Group Managing Director Benson Wairegi, on the other hand, said that the cover was in line with the universal health care plan.