Jubilee Life Launches Education Insurance Plan to Ease School Fee Burden
By Kass Digital | NAIROBI,
Jubilee Life Insurance has introduced a new education-focused insurance product aimed at helping Kenyan families manage the rising cost of schooling.
The product, known as Faida Elimu Insurance Plan, combines savings, investment, and life insurance to help ensure children’s education continues even during financial hardships.
The launch comes at a time when many households are struggling with education expenses. According to Oxfam, families in Kenya spend up to 14% of their income on school fees, highlighting the growing financial strain on parents.
The Faida Elimu Insurance Plan allows parents and guardians to contribute from KES 5,000 monthly or make a one-time deposit starting at KES 100,000. It also includes life insurance coverage of up to KES 1 million and a last expense benefit of KES 100,000.
Faida Elimu Insurance Plan allows contributions starting from KES 5,000 per month or a one-time deposit of KES 100,000, with an option to top up. . It integrates an investment-linked with Life risk component that offers competitive returns alongside a mandatory Last Expense cover of KES 100,000 and Life cover of up to KES 1M.
Jubilee Life Insurance Company Limited CEO and Principal Officer, Asman Mugambi said the company aims to provide practical solutions that reduce both financial and emotional stress for families. “Every parent wants their child to go further than they ever did, without anything limiting that dream. Predictability and dignity ensure that a child’s education journey continues even when life takes unexpected turns,” he said.
The initiative also aligns with Kenya’s long-term development blueprint, Vision 2030, which emphasizes access to quality education and uninterrupted learning.
By combining investment growth with financial protection, Jubilee Life says the Faida Elimu plan is designed to help families plan ahead and safeguard their children’s academic future.
