NAIROBI, Kenya, Apr 20 – Jubilee Life Insurance has introduced a new education-focused savings and protection product aimed at helping middle-income families manage rising school fees and cushion against income shocks.
The insurer says the Faida Elimu Insurance Plan is designed for salaried workers and small business owners who are seeking structured, long-term education funding solutions for their children.
With education costs continuing to strain household incomes, research by Oxfam shows that some families spend up to 14 percent of their earnings on school fees—highlighting the growing pressure on parents to secure predictable financing options.
The new product combines investment and insurance features, allowing parents to save consistently while also protecting their children’s education in the event of unforeseen circumstances such as job loss or death of a breadwinner.
Jubilee Life Insurance Chief Executive Officer Asman Mugambi said the initiative is meant to address both the financial and emotional strain faced by 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,” said Mugambi.
“Every parent wants their child to go further than they ever did, without anything limiting that dream. Predictability and dignity ensure that a child’s education journey continues even when life takes unexpected turns.”
The plan allows parents to contribute from as low as Sh5,000 monthly or make a lump sum payment starting at Sh100,000, making it accessible to many middle-income households planning for private or specialized education.
It also includes life cover of up to Sh1 million and a last expense cover of Sh100,000, in addition to investment returns accumulated over the long term.
The insurer says the product aligns with national development priorities under Kenya Vision 2030, particularly on expanding access to education and strengthening human capital development.
The launch reflects a broader trend among insurance firms in Kenya shifting focus toward the growing middle class with tailored financial products aimed at addressing long-term needs such as education funding.
