JUBILEE INSURANCE FAIDA ELIMU SAVINGS PLAN
Faida Elimu is an investment-linked education savings plan designed to help parents build a dedicated education fund while protecting the child’s academic journey from life’s uncertainties like job loss, death, or disability . It goes beyond regular savings by including insurance protection features .
Target Audience: Parents with children aged 0–18 years, individuals aged 18–65 years .
Policy Term: 5 to 15 years (aligns with education milestones from early years to university) .
Features of Faida Elimu
These are the what – the components, structures, and rules of the plan.
| Feature | Details |
|---|---|
| Minimum Contribution | KES 5,000 monthly OR KES 100,000 one-time (single premium) |
| Payment Flexibility | Monthly, quarterly, yearly, or one-off deposit with top-up option |
| Investment Component | Contributions are professionally managed in a diverse portfolio aiming for competitive returns; grows through compounding |
| Life Cover | Up to KES 1,000,000 (death benefit) |
| Last Expense Cover | KES 100,000 paid to family within 48 hours for funeral expenses |
| Premium Waiver | If death or permanent disability occurs, future premiums are paid by the insurer – child’s fund continues growing |
| Partial Withdrawals | Allowed after 2 years |
| Full Withdrawal | 100% of fund value paid at maturity |
| Eligibility | Kenyan citizens with National ID and KRA PIN |
| Surrender Penalties | Early withdrawal charges apply based on how long policy has been active |
| Fund Management Fee | Annual fee applies as a percentage of fund value |
Benefits (Faida) of Faida Elimu
These are the why – the outcomes and advantages for you and your child.
1. Education Continues No Matter What
The core benefit: if the breadwinner dies or becomes disabled, Jubilee pays all future premiums while the savings keep growing. Your child stays in school without financial interruption .
2. Disciplined, Structured Saving
Helps you avoid education anxiety by committing to a regular savings schedule. You build a dedicated education fund rather than dipping into general savings .
3. Wealth Growth Through Investing
Unlike a regular bank account, your money is invested in professionally managed portfolios to deliver competitive returns and benefit from compounding over the 5-15 year term .
4. Immediate Financial Support for Family
Within 48 hours of death or disability, your family receives KES 100,000 for last expenses – separate from the education fund .
5. Full Savings Return at Maturity
You receive 100% of your accumulated fund value at the end of the policy term, ready to pay for tuition, university fees, or other education costs .
6. Flexibility When You Need It
Partial withdrawals available after 2 years if urgent needs arise. You can also adjust payment frequency or top up anytime .
7. Peace of Mind
The plan relieves both psychological and financial burdens – you know your child’s education is predictable and protected even if life takes unexpected turns .
8. Supports National Development Goals
Aligns with Kenya’s Vision 2030 by reducing education disruptions and helping build human capital .
How It Compares: Faida Elimu vs. Regular Savings
| Aspect | Faida Elimu | Regular Bank Savings |
|---|---|---|
| Protection | Premiums waived if parent dies/disabled | None – savings stop if income stops |
| Investment Growth | Professionally managed for competitive returns | Low interest (often below inflation) |
| Last Expense Cover | KES 100,000 included | None |
| Life Cover | Up to KES 1,000,000 included | None |
| Withdrawal Discipline | Partial after 2 years – protects education goal | Can withdraw anytime – easily disrupted |
| Maturity Value | 100% of fund value + investment returns | Principal + minimal interest |
Suitability
This plan is ideal for you if:
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You have a child aged 0-18 years
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You are a salaried worker or small business owner seeking structured education funding
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You worry about “what happens to my child’s school fees if something happens to me?”
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You want to start small (KES 5,000/month) and build over time
Summary
Faida Elimu is not just a savings account – it’s a protected education fund that grows through investments and includes life insurance. If you stay healthy, you get your full savings plus returns at maturity. If tragedy strikes, the insurer steps in to complete your savings for you. This combination of saving + investing + protection is what makes it an education insurance plan rather than ordinary savings .
Would you like me to explain any specific feature in more detail, such as the withdrawal charges or how the investment returns work?
Certainly. Here is the revised explanation, now starting with a clear introduction of Faida Elimu as a product of Jubilee Insurance.
Introduction: What is Faida Elimu?
Faida Elimu is an education savings plan offered by Jubilee Insurance, one of East Africa’s oldest and most trusted insurance providers. It is specifically designed to help parents and guardians build a dedicated education fund for their children, combining regular savings, professional investment management, and life insurance protection.
Unlike a standard bank account or piggy bank, Faida Elimu ensures that your child’s school fees, university tuition, and other education costs are covered even when life throws unexpected challenges—such as the death, disability, or critical illness of the breadwinner.
The name Faida means “benefit” in Swahili, and the plan lives up to its name by offering financial security, peace of mind, and a clear path to funding your child’s future.
Features of Faida Elimu (What the Plan Offers)
These are the structural components and rules of the Faida Elimu plan:
| Feature | Details |
|---|---|
| Plan Type | Investment-linked education savings plan |
| Target Age (Child) | 0–18 years |
| Target Age (Parent/Payer) | 18–65 years |
| Policy Term | 5 to 15 years (flexible to match education milestones) |
| Minimum Monthly Contribution | KES 5,000 |
| Minimum Single Premium (One-off) | KES 100,000 |
| Payment Frequency | Monthly, quarterly, yearly, or one-off lump sum with top-up option |
| Investment Management | Contributions are pooled and invested in a professionally managed portfolio aiming for competitive returns |
| Life Cover (Death Benefit) | Up to KES 1,000,000 |
| Last Expense Cover | KES 100,000 paid within 48 hours for funeral arrangements |
| Premium Waiver | If the policyholder dies or becomes permanently disabled, Jubilee pays all future premiums—child’s fund continues growing |
| Partial Withdrawals | Allowed after 2 years (e.g., for school fees or emergencies) |
| Full Maturity Withdrawal | 100% of accumulated fund value paid at end of policy term |
| Eligibility (Policyholder) | Kenyan citizen with National ID and KRA PIN |
| Early Surrender Penalty | Applicable if policy is cancelled before term ends |
| Annual Management Fee | A percentage of fund value charged yearly |
Benefits (Faida) of Faida Elimu
These are the outcomes and advantages you gain as a parent or guardian:
1. Child’s Education Continues No Matter What
If you die or become permanently disabled, Jubilee waives all future premiums—yet the savings plan keeps growing. Your child stays in school without financial interruption.
2. Disciplined, Automated Saving
The plan forces consistent, regular contributions, helping you build a substantial education fund without the temptation to dip into it for other needs.
3. Wealth Growth Through Professional Investing
Your money is not sitting idle. It is invested in diversified portfolios managed by experts, aiming for returns that outpace inflation and benefit from compound growth over 5–15 years.
4. Immediate Funeral Support for Family
Within 48 hours of death or permanent disability, your family receives KES 100,000 to cover last expenses—separate from and in addition to the education fund.
5. Full Savings Returned at Maturity
At the end of the policy term, you receive 100% of the accumulated fund value (contributions + investment returns), ready to pay for university, college, or other higher education costs.
6. Flexibility When Urgent Needs Arise
After the first two years, you can make partial withdrawals if an emergency or unexpected school fee demand occurs. You can also adjust payment frequency or add top-up contributions.
7. Peace of Mind for Parents
The plan removes the psychological and financial anxiety of “What if something happens to me?” You know your child’s education journey is protected.
8. Supports Long-term Family Financial Planning
Faida Elimu aligns with major education milestones (e.g., starting secondary school, joining university), making it easier to plan ahead with clarity.
Faida Elimu vs. Ordinary Bank Savings
| Aspect | Faida Elimu (Jubilee) | Regular Bank Savings Account |
|---|---|---|
| Life Protection | Premiums waived if parent dies/disabled | None – savings stop if income stops |
| Investment Growth | Professionally managed for competitive returns | Low interest (often below inflation) |
| Last Expense Cover | KES 100,000 included | None |
| Death Benefit | Up to KES 1,000,000 included | None |
| Withdrawal Discipline | Partial withdrawals only after 2 years – protects the goal | Can withdraw anytime – easily derailed |
| Maturity Value | Contributions + investment returns | Principal + minimal interest |
| Emotional Security | High – child’s education is insured | Low – no protection against life’s uncertainties |
Who Is Faida Elimu For?
This plan is ideal for:
-
Parents or guardians with children aged 0–18 years
-
Salaried employees or self-employed individuals seeking structured education funding
-
Anyone who worries about what happens to school fees if I die, get disabled, or become critically ill
-
Those wanting to start small (from KES 5,000/month) and build over time
Summary
Faida Elimu by Jubilee Insurance is more than a savings account—it is a protected education fund that combines:
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Regular savings discipline
-
Professional investment growth
-
Life insurance protection
If you remain healthy, you get back 100% of your savings plus investment returns at maturity. If tragedy strikes, Jubilee steps in to complete your savings for you. This unique combination of saving + investing + protection makes Faida Elimu a comprehensive education insurance plan, not just ordinary savings.
For more information, inquiries, or to purchase the Faida Elimu plan through Annex Insurance:
📞 Phone: 0724547669
📧 Email: info@annexinsurance.co.ke
