Old Mutual General Insurance Kenya (OMGIK) has unveiled its new Monthly Premiums Plan, offering Kenyans a more flexible and affordable way to manage their insurance needs. 

The insurer says the product designed to ease the financial burden of large upfront payments enables customers to pay monthly premiums for comprehensive coverage across health, motor, home insurance, and personal accident policies.

The move comes in response to the ongoing financial challenges faced by many Kenyans, as highlighted in the latest Old Mutual Financial Services Monitor.

The report revealed that nearly 50% of working Kenyans are experiencing financial stress, with 9 in 10 consumers earning the same or less than they did before the COVID-19 pandemic.

Additionally,the rising cost of living has left many families with limited disposable income, restricting their ability to invest in insurance.

“The Monthly Premiums Plan allows individuals and families to enjoy a full year of coverage without the burden of paying a lump sum upfront,” said Japheth Ogalloh, Managing Director of Old Mutual General Insurance Kenya.

Under the plan, the minimum premium starts at Sh25,000, with customers able to pay monthly installments.

According to Old Mutual,this option not only makes insurance more affordable but also enables better financial planning, ensuring that families can maintain essential services like healthcare without sacrificing their financial wellbeing.

Likewise, customers who opt for an annual plan will be eligible for exclusive discounts and bonuses.

The Monthly Premiums Plan is managed through Old Mutual’s user-friendly online platforms, including the Old Mutual Thrive app. Customers can easily track payments, manage their coverage, and even cancel their subscriptions at any time. This level of convenience provides customers with greater control and flexibility over their insurance needs.

The new Monthly Premiums Plan aligns with Old Mutual’s broader mission to support East African communities with integrated financial services, offering solutions that span insurance, investment, banking, and savings.