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Low cost insurance for Kenyans

NAIROBI, Kenya Aug 24 – Eagle Africa Insurance Brokers has introduced a low cost comprehensive in and outpatient medical cover targeting low-income earners.

Dubbed ‘Afya Milele Halisi’ the new scheme will see one pay as little as Sh35 a day, with the cover giving one medical security as well as three other family members.

Eagle Africa Managing Director Sam Ncheeri said the new product serves as a tool of improving the low level of insurance penetration in the country by giving products that best suite individual lifestyles.

“Today we start addressing the needs of everyone in the community by providing a product that is easily available. We always talk about pricing of insurance products and my opinion is that pricing should come last,” Mr Ncheeri said.

Afya Milele Halisi has been underwritten by APA insurance and will offer two payment options with premiums as low as Sh11,640 per annum or Sh1,066 per month. The scheme provides cover of between Sh50,000 and Sh300,000.

Mr Ncheeri said the product covers chronic, pre-existing conditions, doctors’ costs as well as all other expenses associated with in-patient care, but will only be available to National Health Insurance Fund (NHIF) contributing members.

“The lower end has continued to be ignored by mainstream underwiters and we saw gap that we could fill and make these services more accessible,” Mr Ncheeri said.

He said that close to 80 percent of the Kenyan population is excluded from formal healthcare as pricing for healthcare products remains out of the reach of many.

“It is a reality that medical costs are prohibitive to the majority of Kenyans. As industry players we have to come up with a low cost medical cover that will help bust the myth that insurance is only for those with money,” APA Managing Director Ashok Shah said.

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Members will be provided with a smart card that they can use at any NHIF accredited hospital countrywide. Premium payments can be made via M-PESA, Zap or in cash at any Eagle office.

Mr Ncheeri said plans were underway to have the scheme replicated in Uganda and Tanzania where the company also operates.

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