If you just got married, wedded or planning any of these you must have thought of best insurance policies for young couples in Kenya if you want the best for your family. As you build a life together, it’s essential to consider how you can protect each other and your shared future. One way to do this is by investing in the right insurance policies. Insurance normally acts as a protection, indemnity or hedge.
This is a blog post that tries to help you understand the best insurance policies for young couples in Kenya.
Importance of Insurance
Insurance is the transfer of risk from insured to the insurer—in most cases, the insurance company or the government agency provides a guarantee of specified loss, damage, illness or death in return for payment or premium.
Here are some of the importance of taking an insurance policy;
Peace of mind because you feel protected financially
Savings—Insurance is a great way to save especially when you want to build wealth for the family.
Risk Transfer
Retirement plans
Can also help with school fees when you take education plans.
Best Insurance Policies for young couples in Kenya
Here is a list of my assessment of the best insurance policies for young couples in Kenya.
Health Insurance
Health insurance helps you prioritize the well-being of your young family. There are health insurance policies that provide coverage for routine check-ups, hospitalization, and other medical expenses. Some insurance providers in Kenya offer family health insurance plans, which can be a cost-effective way to cover both spouses under a single policy. Too often Kenyans mistake The National Insurance Fund (NHIF) to be health insurance, please not NHIF just cover.
Life Insurance
This one of the best insurance policies for young couples in Kenya because it protects your spouse financially in the event of your unexpected passing. The thing about life insurance policies is that most insurance providers nowadays have their policies with maturity dates so it does not have to be beneficial to your spouse when you die; as long as the maturity period has elapsed you will get the benefits. Life insurance policy would be good choice not just for young couples but older couples because it is a long term saving plan that helps in safeguarding the future of your children.
Property Insurance
This type of insurance protects your property against risks like fire, theft, and natural disasters. Make sure to assess the value of your possessions and choose a policy that adequately covers your home and its contents.
Motor Insurance
Most young families do not own cars but if you are part of the few who own a car, this policy is for you. Always opt for a comprehensive insurance policy that covers damages to your vehicle as well as third-party liability. You do not really have a choice insuring your car because I think auto insurance is a legal requirement in Kenya.
As you begin your journey as a married couple, securing your financial future is a thoughtful and responsible step. Most young families are normally troubled with indecisiveness but by choosing on these some of the best insurance policies for young couples in Kenya, you not only protect each other but also create a solid foundation for the life you’re building together.
Take the time to explore different insurance options, compare quotes, and consult with insurance professionals to tailor a plan that meets your unique needs and aspirations. Happy New Year 2024!
