+254 712524293 cu@must.ac.ke


Life insurance: This can be categorized as follows;

  • Protection policies – designed to provide a benefit, typically a lump sum payment, in the event of a specified occurrence. A common form of a protection policy design is term insurance.
  • Investment policies – the main objective of these policies is to facilitate the growth of capital by regular or single premiums. Common forms are whole life, universal life, and variable life policies.

When calculating for premiums for life policies, the following formula applies:

Premium=sum assured*rate

Rates are provided by the actuaries for each insurance company depending on the period of policy.