Jubilee Insurance Review

Being listed in the Aer-es-Salaam Stock Exchange, Nairobi Securities Exchange, and Uganda Securities Exchange speak volumes about their reputation and credibility. 

They established Jubilee Insurance Limited in 1937, which made it the first incorporated Insurance Company in Mombasa.

Jubilee Insurance is a subsidiary of Jubilee Holdings Limited and has branches in different countries including Tanzania, Uganda, Mauritius, Burundi, and Pakistan. Their headquarters, however, remains in Kenya. Jubilee Insurance provides insurance cover across an array of personal and business sectors.

What services does Jubilee Insurance offer?

Jubilee Insurance provides services across two major platforms, which are – for personal and business purposes. Each of this category holds under the following:

Life

Personal

1. Education plan: they design this plan specially as a saving tool for your child’s education. Its core benefits are financial security, accident and disability cover, flexible investment options, and education savings with life cover.
2. Investment Plan (Fanaka): this policy allows you to save funds overtime to meet a financial need. You can easily subscribe to this plan to buy a car, home, or cater for other expenses.
3. Baada Ya Compo: it packages this plan to help university students save for life after school. It also includes life assurance cover equivalent to 75% of the assured sum in case of an untimely death.
4. Joint Maxlife Plan: this provides full insurance for two individuals, and they pay the full value of the policy at once at the time of either individual’s death.
5. Whole-Life: you can subscribe to whole life with an investment or whole-life without an investment. For whole-life with insurance, the investment grows in a predetermined constant manner, while the plan without an investment does not.

Other plans under the personal category are:

1. Family Shield Cover.  
2. Single Premium Immediate Annuity.
3. Personal Pension Plan.
4. Anticipated Endowment Plan. 

Business

The group policy provides insurance cover for members of the group in the area following areas:

1. Group Last Expense Cover: pays for the demise of a group member.  
2. Group Life Policy: this insurance is such that a single contract covers a group of individuals.
3. Group Mortgage Protection Cover: provides cover for your loved ones against mortgage payment in case of your death.

Other insurance plans under the business category are:

1. Occupational Retirement Benefits Scheme: Occupational retirement benefits scheme runs like a regular retirement plan. You make pre-defined payments to plan for your retirement.
2. Jubilee Umbrella Scheme: Umbrella schemes create a platform for different unrelated employers to participate in a single employment scheme.

Health

Personal

1.  Jinue: Jinue provides insurance health cover for you and your family. Adults involved must be between the age of 18 and 60 and children between 1 month and 17 years. All existing members can are eligible until up to 60 years. It is available online and requires no medical checkups or paper works.
2.  JCare Individual/ Family Health cover: this policy is identical to that of the Jinue, but offers more as regarding coverage and facility. JCare provides medical insurance for you and your family, with access to over 200 medical professionals around the country. It is available for adults between 18 and 60 years, and children between 1 month and 17 years. However, adults above 50 years would be required to undergo a medical examination at personal cost.  

Business

1. Corporate Health Cover: they design this package for large corporate businesses. It provides health insurance for all employees.
2. Jbiz SME Health Cover: Jbiz provides insurance for the employees of small and medium-sized enterprises.

General

Personal

The personal insurance category provides cover across different aspects of your personal life. The several areas are:

1. Personal Accident.
2. Motor Insurance.
3. Home Insurance.
4. Travel Insurance.

Business

1. Fidelity Guarantee: financial guarantee protects your business from financial loss in the event of a breach of contract by an employee.
2. Group Personal Accident.  
3. Professional Indemnity: This insurance provides compensation to employees in the event of injuries or death caused by accidents. As an employer, it protects you from the financial burden, while as an employee, it provides compensation for your loved ones.
4. WIBA: this policy covers the workmen injury benefit act (WIBA) and group personal accidents (GPA). It addresses risks around your workplaces and off it.  
5. All Risk Insurance: all risk insurance covers any loss that arises from perils on a property. It is an all risk insurance policy, therefore compensates all losses except those specified in the contract.
6. Marine Hull and Cargo Insurance: just like the name implies, marine hull and cargo insurance provides compensation in loss or damages to ships and cargos being transported. Jubilee Insurance is the largest marine insurer in East Africa.

How do I contact Jubilee Insurance?

You can visit their head office at:

Jubilee Insurance Center, Wabera Street

P.O.Box 30376 – 00100 Nairobi, Kenya.

Or contact them through:

Telephone: +254 (0) 20328 1000

Fax: +254 (0) 20 328 1150

You can also log on to their official website at www.jubileeinsurance.com/ke/ for more information about their services and office locations.

Conclusion

After reading through this article, you can agree with us that Jubilee Insurance provides services that cover virtually every possibility across your business and personal life.

They have almost a century of operation under their belt and are one of the best in the insurance business.