Jubilee Life Insurance has unveiled the Faida Elimu Insurance Plan, a new education protection and investment solution aimed at helping Kenyan families manage the growing cost of education and protect children from school disruptions caused by financial hardship.
The plan, launched in Nairobi on Monday, is designed to ensure that a child’s education journey remains uninterrupted despite unexpected life events such as loss of income, family tragedy, or sudden financial shocks.
According to the Kenya Inequality Crisis Report by Oxfam, about 36 percent of Kenya’s population is under the age of 15, with more than 14 million pupils enrolled in primary and secondary schools.
However, many families continue to face major financial challenges, with households spending up to 14 percent of their income on school fees alone.
Supporting Kenya’s Vision 2030 education goals
Jubilee Life said the Faida Elimu Insurance Plan supports the government’s Vision 2030 goal of achieving universal access to basic education by helping parents prepare financially for their children’s smooth transition through different education levels.
The insurer noted that the product is designed to empower parents and guardians to proactively secure their children’s academic future while contributing to national human capital development.
Unlike traditional insurance products, Faida Elimu functions as a high-yield, investment-linked policy that promotes long-term savings discipline while providing financial protection against education-related emergencies.
Affordable contributions and added life cover benefits
The plan allows customers to make monthly contributions starting from as low as KES 5,000 or a one-off deposit of KES 100,000 with an option for top-ups.
It also includes a life risk component that offers competitive returns, alongside a mandatory last expense cover of KES 100,000 and life cover of up to KES 1 million.
Jubilee Life says the structure is specifically tailored for Kenyan parents seeking a secure and reliable way to save, plan, and protect their children’s education, especially amid rising costs of private and specialized learning.
Jubilee calls for practical financial solutions
Jubilee Life Insurance Company Limited CEO and Principal Officer Asman Mugambi said the company is focused on creating practical financial solutions that ease both emotional and financial stress for families.
“As a company, we are called to think beyond products and intentionally design practical solutions that relieve both the psychological and financial burdens among Kenyan families. Every parent wants their child to go further than they ever did, without anything limiting that dream,” said Mugambi.
He added that predictability and dignity are key in ensuring that a child’s education journey continues even when families face unexpected life challenges.