Smart Scholar is an education-focused life insurance plan from Jubilee Insurance, designed for Kenyan parents and guardians. It combines disciplined savings for education costs with life insurance protection, ensuring that a child’s education can continue even if the parent or guardian passes away or becomes permanently disabled.

Plan Overview

Smart Scholar is not a pure investment product — it is a life insurance policy with a savings component tailored for education planning. The core value proposition is “save systematically, and protect the plan if something happens to you.”

Eligibility at a glance:

• Entry Age: 18 to 50 years

• Maximum Age at Maturity: 68 years

• Policy Term: 8 to 18 years

• Minimum Sum Assured: KES 200,000

• Premium Frequency: Monthly, quarterly, semi-annually, annually, or single lump sum

Core Benefits

1. Maturity Benefit (The Education Fund)

At the end of the policy term, you receive:

• 100% of the Sum Assured

• Accrued annual reversionary bonuses

• Terminal Bonus — equal to 100% of all earned annual bonuses

Annual reversionary bonuses are declared at up to 4% of the Sum Assured per policy year, subject to policy terms. This means the longer you hold the policy, the more your fund compounds.

2. Death Benefit (Education Continuation)

If the policyholder dies during the term:

• 50% of the Sum Assured is paid immediately to nominated beneficiaries

• Future premiums are waived — Jubilee pays them

• The policy stays active and continues to earn bonuses

• At maturity, 100% of the Sum Assured plus bonuses is paid to the beneficiary

This is the “education continuation” mechanism: the child’s fund keeps growing even after the parent is gone.

3. Disability Benefit

If the policyholder becomes totally and permanently disabled, future premiums are waived and the policy continues until maturity.

Optional Add-On Benefits

These cost extra but can be added at the onset of the policy:

Policy Loan & Early Exit

Policy Loan: Available after two years, subject to eligibility.

Early Withdrawal (Surrender Value): The policy builds a surrender value after 24 months of fully paid premiums. If you exit early, you may receive a cash payout based on the applicable surrender value and accrued bonuses. Surrender values are typically lower in early policy years.

Key Exclusions

Benefits may not be payable if death or disability results from:

• Criminal or unlawful acts

• Alcohol or drug misuse

• War, terrorism, riots, or civil unrest

• Hazardous activities or dangerous sports

• Provoked assault or fighting

Full definitions and exclusions are in the policy document.

Who It Suits

Smart Scholar is designed for:

• Parents planning for primary, secondary, or university education costs

• Young families seeking disciplined education savings

• Single parents wanting added financial security

• Guardians supporting a dependent’s education

It is less suitable for someone seeking pure investment returns or maximum liquidity — this is a long-term commitment with insurance features built in.

Let Annex Insurance Navigate for You.

Understanding the fine print of education policies like Smart Scholar can be the difference between a secure future for your child and an unexpected shortfall. At Annex Insurance, we cut through the jargon and help you choose the right cover with confidence. Whether you are comparing plans, sizing your Sum Assured, or simply asking “is this the right fit for my family?”, our advisors are ready to walk the journey with you.

📞 Call/WhatsApp: 0724547669
📧 Email: info@annexinsurance.co.ke
🌐 Website: www.annexinsurance.co.ke

Annex Insurance — Let us navigate your peace of mind.