Britam urges Rotarians to safeguard their children’s education

By Britam

As a parent, you always want the best education for your child to secure their future. But education can be long and expensive, costing at least KES 3 million and taking 17 years to put the average child through Kenya’s schooling system.

That’s why you need a reliable partner to safeguard your child’s dreams and aspirations. Britam has over 50 years of experience providing education savings solutions designed to help you plan for your child’s future education needs.

What is an education insurance policy?

It’s a policy that helps you save for your child’s education and ensures they’re covered even if you’re not there.

By investing a small amount of money regularly, you can accumulate a significant sum for your child’s education and protect your child’s education against unexpected events in life.

Factors to consider when getting an education policy

1. The projected future cost of your child’s education.
2. Your child’s age and the time you have
3. How much you can afford to put aside
4. The best type of insurance that suits your needs

Five great reasons to get a Britam Education Policy

Britam pays over KES 3 billion annually in education payments. With market share of more than 30%, we are the biggest life insurer where education falls in.

1. Protecting their future: Get the right education policy to protect your children against unfortunate circumstances that may lead to the depletion of your savings or make it impossible for you to provide for them.
2. Managing the cost of education: Education can be expensive and is expected to get even more costly in the future. An education policy is a smart way to save for that expensive phase of your child’s education.
3. Growing your money: The investment you put aside earns interest ensuring that you pay less over the long run.
4. Protecting your investment: In case of your absence, the policies are designed to ensure that your children will continue getting the quality education you had planned for them.
5. A heritage of trust: Britam education policies have enabled parents to plan and successfully execute their children’s education journeys for over 50 years. Start today and be one of our many success stories.

What type of education solutions does Britam have?

We have a number of products designed to fit your unique needs and the education stage your child is currently in.

Soma Sure Education Plan

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For as little as Kes 1,000, this policy is designed to enable parents and guardians invest in their children’s education by putting money in an investment fund that yields returns throughout the policy.

• Affordability: Customers save (pay a regular premium) every month of as little as Kes 1,000.
• Flexibility: Customers can save additional amounts over and above their regular premiums at any time which are channelled into their investment fund.
• Higher returns: Customers enjoy a minimum guaranteed return of 5% on their investment.
• Premium holiday: Customers will not be required to pay premiums in the last 3 years of their policy. Any payments they make during this period will be added to their investment fund.
• Security: In the event of redundancy, premiums will be waived for 6 months if a customer has signed up for this benefit.

Msingi Poa Education Plan

• This plan pays four lump sum benefits in the last four policy years. A parent is therefore able to align these payouts with key milestones such as a 4-year university or college course
• The last 3 years of the policy term are premium free
• After 3 years, the policy allows a policy holder to take loans of up to 80% of the policy value

Boresha Elimu Education Plan

• This plan provides for flexible pay-outs at important stages of a child’s education, perfectly aligned with the new CBC education curriculum.
• Premium contribution period is flexible between 6 and 18 years depending on the education needs of the child.
• The plan allows for late age entry up to age 60; the maximum entry age for most education products is currently set at 55 years

Elimu Smart

• This is a flexible, affordable short-term guarantee that your child will keep learning in their current school in the event that you are no longer able to provide for them.
• It is a school fees insurance cover whose payments are calculated based on the school fees you are currently paying.
• It is designed to pay for your child’s fees in their current school should an unfortunate event occur to you and you are no longer able to pay their fees.
• This cover ensures that you or your next of kin gets paid a lumpsum in the event of your demise or on diagnosis of a critical illness.

Britam, a leading insurance company in Kenya, proudly served as the official insurance partner for Rotary District 9212’s 99th District Conference. The event, held at Garoda Resort in Watamu, Kenya, from April 25th to 28th, drew 1,000 delegates for three days of world-class speakers, learning, networking, and the fostering of new friendships. This significant collaboration between Rotary District 9212 and Britam highlights a shared commitment to bringing sustainable change to communities, with both organizations looking forward to future opportunities for partnership in support of Rotary’s impactful mandate.

#Sponsored Article by Britam.