Introduction: CIC Academia – CIC Insurance Group’s Education Plan

CIC Academia is a specialized education insurance plan offered by CIC Insurance Group, one of Kenya’s longest-standing insurance providers, established in 1968 . The plan is designed as a combination of insurance protection and savings – structured as an endowment policy aimed at funding education expenses for children of any age .

In simple terms, CIC Academia helps you save systematically for your child’s school fees, college expenses, or university fund while providing life insurance protection for you as the parent or guardian. If something unexpected happens to you – such as death or permanent disability – CIC steps in to waive future premiums and ensure your child’s education continues uninterrupted .

What makes CIC Academia stand out is its accessibility and flexibility. You can start with as little as KES 2,000 per month, choose how long you want to save, and receive guaranteed payouts at key education milestones . The plan has seen significant growth, with CIC reporting a 30% year-on-year increase in education policy uptake, and education policies now contributing 10% to CIC Group’s revenue .

Now, let us look at the key features and benefits of the CIC Academia education plan.

Key Features of CIC Academia

Core Benefits of CIC Academia

1. Dual Savings + Protection

CIC Academia is a 2-in-1 policy that combines disciplined education savings with life insurance cover. You save money while simultaneously protecting your child’s future in case of unfortunate events such as a parent’s death, total permanent disability, or critical illness .

2. Premium Waiver on Death or Disability

This is the plan’s most critical feature. If the policyholder (parent/guardian) dies or becomes totally and permanently disabled during the premium payment term:

• 50% of the sum assured is paid immediately 

• All accrued bonuses are paid out 

• All future premiums are waived – CIC continues paying the remaining premiums so the child’s education fund grows uninterrupted 

3. Guaranteed Education Funding

The policy provides guaranteed returns through partial and final maturity benefits. After the premium payment period ends (5-14 years), the policy enters a maturity phase where partial benefits are paid out over four years – helping cover school fees at different stages such as secondary school and university. A final lump sum is paid at the end of the policy term .

4. Affordable Entry Point

With monthly premiums starting as low as KES 2,000, CIC Academia is designed for ordinary Kenyan families. CIC’s Managing Director notes that the product was initially seen as “for the rich,” but today, more low-income Kenyans are securing their children’s education through this accessible plan .

5. Tax Relief Benefits

Premiums paid toward CIC Academia qualify for government tax relief of 15% of monthly premiums, up to a maximum of KES 5,000 per month. This reduces the effective cost of the policy .

6. Flexible Beneficiary Options

If the nominated child beneficiary dies, the policyholder has two options:

• Nominate another child as the beneficiary 

• Claim a refund of all premiums paid to date 

7. Surrender Value for Liquidity

The policy can be surrendered after 3 years, providing some liquidity should your financial circumstances change unexpectedly .

8. Flexible Terms to Match Your Child’s Timeline

You can choose a policy term between 9 and 18 years and a premium payment term between 5 and 14 years, allowing you to align the savings plan with your child’s specific education milestones – whether primary, secondary, or university .

⚙️ How CIC Academia Works

1. You choose your policy term (9-18 years) and premium payment term (5-14 years) based on your child’s age and education timeline 

2. You pay monthly premiums starting from as little as KES 2,000 

3. Your savings grow with guaranteed returns and bonuses throughout the policy term 

4. If something happens to you (death or total permanent disability) during the premium payment term:

   • 50% of sum assured + accrued bonuses paid immediately

   • All future premiums waived by CIC

   • Your child still receives full benefits at maturity 

5. After premium payment term ends, partial maturity benefits are paid over four years to cover education expenses at key stages 

6. At final maturity, you receive a lump sum including 100% of sum assured plus revisionary and terminal bonuses 

 CIC Academia vs Other Education Plans (Quick Comparison)

Data compiled from industry sources 

Summary

 Conclusion

CIC Academia by CIC Insurance Group offers Kenyan families a practical, affordable way to secure their children’s education future. With premiums starting as low as KES 2,000 per month, flexible terms ranging from 9 to 18 years, and the critical protection of premium waiver on death or disability, it ensures your child’s learning journey continues regardless of life’s uncertainties.

Choosing the right education plan requires understanding your child’s timeline, your budget, and the protection features that matter most to your family.

Let Annex Insurance help you navigate the CIC Academia policy – compare benefit structures, understand the staged payout system, and customize a plan that fits your child’s unique education journey. Our team is ready to guide you every step of the way.

📞 Call us today: +254 724 547669
📧 Email us: info@annexinsurance.co.ke

Secure your child’s future with confidence. Reach out to Annex Insurance now.