This archive report was first published on 10 October 2019.
As of October 10, 2019, a growing number of bank customers in Kenya have been turning to insurance products for their savings, citing the need for stable returns in the long term.
According to Liberty Life managing director Abel Munda, insurance-linked investments offer a more stable return compared to traditional bank savings, which can be affected by short-term market fluctuations.
“Insurance companies offer both investment and life cover. This means that the customer benefits from risk protection as well,” Mr Munda said in an interview with Infotrak.
Mr Munda noted that long-term insurance products allow for disciplined savings over a period of time, making them a more attractive option for those seeking to save for the future.
