Jubilee Life Insurance has launched a new education-focused product aimed at helping Kenyan parents cope with rising school costs and protect their children’s future.
The company introduced the Faida Elimu Insurance Plan, positioning it as more than just a policy. It is designed to help families save over time while also offering a safety net in case of unexpected events that could interrupt a child’s education.
Across Kenya, many households are under pressure as the cost of education continues to climb. From tuition to uniforms and extra school expenses, parents are finding it harder to keep up.
Data from Oxfam shows that families can spend up to 14 per cent of their income on school fees, even as the country has over 14 million learners in primary and secondary schools.
Jubilee Life says the new plan is meant to respond directly to these realities by giving parents a structured way to prepare for the future.
The Faida Elimu plan combines savings and investment with insurance protection. Parents can contribute from as low as KES 5,000 per month or make a one-off payment starting at KES 100,000. The money is then invested to grow over time, while also securing the child’s education in case of life disruptions such as loss of income or death.
The policy also includes a life cover of up to KES 1 million and a last expense cover of KES 100,000, offering additional financial support to families during difficult times.
Speaking at the launch, Jubilee Life CEO Asman Mugambi said the company is focused on creating solutions that go beyond traditional insurance.
He noted that many parents worry about whether they will be able to sustain their children’s education, especially in an unpredictable economy.
The plan also supports the government’s long-term development agenda under Vision 2030, which recognises education as a key driver of economic growth and social progress.
By encouraging early planning and disciplined saving, Jubilee Life hopes the Faida Elimu Insurance Plan will help reduce the number of students forced to drop out due to financial challenges. For many families, it offers a way to stay prepared and keep their children’s academic journey on track, even when circumstances change.
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