Jubilee Life Insurance Launches AkibaFlex, Combining Protection With Investment

Tuesday, 20th May 2025 Dar es Salaam, Tanzania…..Jubilee Life Insurance has launched AkibaFlex, a new insurance solution that combines life protection with investment flexibility. This innovative product will empower individuals to protect their future while maintaining access to their funds.

Unlike conventional life insurance products, Akiba Flex will allow policyholders to make partial withdrawals without deactivating their cover, offering unmatched financial flexibility. Customers can choose policy terms of 7, 10, 12, or 15 years, and enjoy a 30-day free look period for complete confidence in their decision.

With a minimum sum assured of TZS 12 million, the product offers both death and survival benefits, ensuring financial security for beneficiaries or a rewarding payout for those who outlive the policy term. Premiums can be paid monthly, quarterly, semi-annually, or annually, giving customers the freedom to align payments with their income flow.

While speaking during the launch, Jubilee Life Insurance CEO Helena Mzena noted that AkibaFlex was part of the company’s ongoing efforts to address existing market gaps and provide a solution that empowers customers to meet both their investment and protection needs.

“AkibaFlex is a reflection of our deep understanding of the modern Tanzanian consumer—someone who values the security of life insurance but also needs access to their funds when opportunities or emergencies arise,” said Helena Mzena, CEO of Jubilee Life Insurance. “It is about giving our customers control, empowering them to plan smartly and live confidently. We are proud to lead the way in offering innovative and inclusive solutions that truly respond to real-life needs,” said Helena.

Despite recent growth in the sector, life insurance penetration in Tanzania remains low. According to the Financial Sector Deepening Tanzania (FSDT), only 10% of Tanzanians have any form of formal insurance coverage.

As the country builds toward a more inclusive financial future, combining life insurance with investment opportunities offers a compelling way to increase uptake. This approach delivers both protection and potential wealth growth, making insurance more attractive and relevant to a wider audience.

“Through AkibaFlex, we are proud to contribute to Tanzania’s broader national agenda by enhancing financial resilience, expanding insurance penetration, and promoting long-term savings habits. This innovative product will not only protect lives but also empower our customers to build a more secure and prosperous future,” noted Helena.

Jubilee Life Insurance remains committed to driving financial inclusion and innovation in Tanzania’s insurance industry. With AkibaFlex, the company is setting a new standard for customer-centric solutions that address real needs, helping more Tanzanians safeguard their futures while growing their wealth. This launch reinforces Jubilee’s vision to empower individuals and families across the country to live with confidence and financial security.

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For more information about Jubilee Life Insurance and our comprehensive range of insurance solutions, please visit https://jubileetanzania.co.tz/