The cost of Education in Kenya has become one of the major challenges parents face.
The cost of Education in Kenya has become one of the major challenges parents face. The average parent with school going children finds it increasingly difficult to pay for their children’s school fees.
Thankfully some financial institutions have created plans to help. Enrolling in an education funding plan for your child is the best option. So what is an education fund? This is an education savings plan offered by a financial institution, designed to help families set aside funds for future school fees cost.
After reviewing several educational fund products, we have identified Britam’s educational policies as the best option. These policies will mature at your specified target time to help pay for your child higher education needs.
Why Choose Britam
Britam has come up with three types of policies to fit everyone’s budget. The Msingi Poa Policy, Elimu Bora Policy and Super E Plus Policy. These three policies pay for the education cost and have some additional benefits, for example, tax relief, medical examinations and death compensations.
Msingi Poa Policy
This Plan pays an annual lump sum to pay for educational expenses. The policy also pays a death benefit in the case of death of the beneficiary If the payor dies the premium payments are waived and the policy stays in place.
Elimu Bora Policy
This policy provides you with an insurance policy as you save for your child’s education. It is designed to pay for the child’s high school costs and university costs. It starts paying funds from the age of 13 and pays a final lump sum at age of 19 to fund for university expenses.
Super E Plus Policy
This policy provides life insurance and cash savings that allow a client arrange for the education of the child earlier. This plan pays additional bonuses upon maturity, The plan also contains additional protections like waiving of monthly premiums in the event of death, disability or critical illness of the payer.
Securing your child's education is very important. Britam’s policies can be the plan you can use to pay for this education.