Education Insurance Policies in Kenya

Before evaluating available education insurance policies, you should have considered the following:

  • The current age of your child and how soon you will need the money for the education.
  • The total amount of money you’ll need for your child’s education. This will depend on the quality of education and career goals you have for your child. You should remember to factor in inflation in the total amount you’ll need.
Product Description Benefits
Old Mutual Education Insurance Policy

Max Education Plan

•Monthly Premium: Min. Ksh 7,000.00 - 100,000.00

•Investment period: Min. 10 years - Max. 20 years.

•Can access funds after 5 years.

•No need for medical examination.

•Premiums enjoy tax relief.

•Maturity benefit: 100% of accumulated Unit Fund at the end of the selected policy term.

•Life Cover:

Accidental Death Benefit, Non-Accidental Death Benefit, and Waiver of Premium Benefit on Death/Disability

CIC Education Insurance Policy

CIC Academia Policy

•Monthly Premium: Min. Ksh 6,000.00

•Investment period: Option of between 10 and 20 years.

•Policy may be surrendered after 3 years.

•A maximum policy loan of 85% of the surrender value may be made available after 3 years.

•End of year Benefit:

- 5 years prior to maturity 15% of sum assured.
- 4 years prior to maturity 15% of sum assured.
- 3 years prior to maturity 15% of sum assured.
- 2 years prior to maturity 15% of sum assured.
- 1 year prior to maturity 15% of sum assured.

•Maturity 50% of sum assured plus accrued bonuses.

•Optional Benefits:

Family Income Benefit, Personal Accident, Waiver of premium – Disability, Waiver of premium- Critical Illness, Double Accident Benefit, Funeral Expense and Critical Illness.

CFC Education Insurance Policy

Educator Plan

•Investment period: Any period between 10 and 20 years.

•Early payment: 14% of the insured amount each year commencing 4 years before the end of the policy term. The remaining 50% of the sum assured plus bonus at the end of the period.

•If you should die before any payments are made CFC Life guarantees that all the partial maturity benefits will be paid when due. In addition the plan will pay the sum assured and accumulated bonus on the death of the child or at the end of the period of the policy.
Apollo Education Insurance Policy

Education Plan with profits

•3 Plans based on Benefits payment on Maturity:
Lump sum, 4 instalments or 8 instalments.

•Recommended min. monthly savings: Ksh 1,500.00 for a minimum period of 10 years to cover up to High School Education and Ksh 5,000.00 to Cover University or College Education.

•Sum Assured plus accrued bonuses is payable on Maturity.

•In case death occurs before Policy maturity, 50% of sum Assured is paid to child guardian.

•Tax relief.

Updated: 03/03/2011

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NOTE: The products info on this page does not constitute financial advice, always do your own research on top to ensure it’s the right product for your specific financial situation and remember, we don't as a general policy, investigate the financial soundness of companies listed here.


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