ICEA LION Usomi Bora Education Cover 2026
ICEA LION Usomi Bora Education Cover: Benefits and Features
The ICEA LION Usomi Bora (also referred to as UsomiBora) is a with-profits education insurance policy designed to help parents save for their child’s education while providing life insurance protection. Below is a comprehensive breakdown of its benefits and features based on official information from ICEA LION Group .
What Does Usomi Bora Do?
The Usomi Bora policy serves two core purposes :
-
Savings/Investment Component: You set aside affordable premiums periodically (monthly, quarterly, or annually) to build a fund for your child’s future education costs.
-
Protection Component: In the unfortunate event of your death, ICEA LION takes over paying the remaining premiums, ensuring your child’s education continues uninterrupted.
Key Features and Benefits
1. Affordability and Flexibility
| Feature | Detail |
|---|---|
| Minimum Premium | Can reduce payments to as low as KES 2,000 if you lose your income source |
| Premium Increase | Can revise payments upward when your financial circumstances improve |
| Payment Options | Monthly, quarterly, or annually – suitable for both salaried and self-employed individuals |
| Policy Duration | 8 to 17 years, depending on the education stage you are planning for (primary, secondary, or tertiary) |
2. Premium Waiver on Death (Critical Protection Feature)
If you (the policyholder) pass away during the policy term :
-
ICEA LION takes over all future premium payments until the policy matures
-
Your child still receives the full Sum Assured plus any accrued bonuses at maturity
-
This ensures your child’s education dreams remain intact even in your absence
3. Savings Growth Through Bonuses
Your premium contributions earn investment returns, which are paid back to you as bonuses :
| Bonus Type | Description |
|---|---|
| Reversionary Bonus | A guaranteed bonus added regularly to the sum payable at maturity or death |
| Terminal Bonus | An additional bonus paid at maturity or death (not guaranteed; depends on market performance over the policy term) |
Important Note: The Sum Assured is guaranteed; bonuses depend on investment market performance during your policy duration .
4. Flexible Payout Options at Maturity
When your policy matures, you can choose how to receive the funds to match your child’s school fee schedule :
| Payout Option | Description |
|---|---|
| Lump Sum | One-time full payment |
| 4 Equal Annual Instalments | Spread payments over four years |
| 8 Termly Payments | Payments aligned with the Kenyan education system’s academic terms |
5. Tax Benefits
Usomi Bora offers two significant tax advantages :
| Tax Benefit | How It Works |
|---|---|
| 15% Tax Relief on Premiums | Employees: Advise your HR department to get monthly tax relief. Self-employed: Claim directly from KRA |
| Tax-Free Maturity Value | The Sum Assured is paid to you entirely tax-free when the policy matures |
This means you effectively get back 15% of what you contribute every month .
6. Life Cover Protection
The policy includes a life insurance component that provides financial security. In the event of the policyholder’s death, the child’s education benefits are fully secured without any financial strain on the family .
7. Customizable Based on Your Child’s Education Goals
You can tailor the policy based on :
-
Type of School: Public or private
-
Curriculum: Local (CBC or 8.4.4) or International (IGCSE, etc.)
-
Education Stage: Primary, secondary, or tertiary/university
-
Duration: Based on when you start saving and when fees are needed
Summary Table: Usomi Bora at a Glance
| Feature Category | Specific Benefit |
|---|---|
| Affordability | Premiums can be reduced to KES 2,000 if income is lost |
| Payment Flexibility | Monthly, quarterly, or annual options |
| Policy Term | 8 to 17 years |
| Death Benefit | Premiums waived; child receives Sum Assured + bonuses at maturity |
| Bonuses | Reversionary (guaranteed) + Terminal (market-dependent) |
| Payout Options | Lump sum, 4 annual instalments, or 8 termly payments |
| Tax Relief | 15% on premiums (via HR or KRA) |
| Tax Status | Maturity payout is tax-free |
| Child’s Education | Secured regardless of what happens to you |
What Makes Usomi Bora Stand Out
The Usomi Bora policy is unique because it provides :
-
Dual Benefit: Combines savings/investment growth with life insurance protection in one plan
-
Peace of Mind: Your child’s education is guaranteed even if you are no longer there
-
Tax Efficiency: You save on taxes while investing in your child’s future
-
Flexibility: You can adjust contributions based on your financial situation
Let Annex Insurance help you navigate the options—compare sums assured, understand bonus structures, and customize usomi Bora policy that fits your unique needs. 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.
