From Right: Jubilee Group CEO Julius Kipngetich, IRA director marketing conduct Ann Chelagat, Jubilee Life CEO Asman Mugambi and Jubilee Holdings deputy CEO Juan Cazcarra during the Faida Elimu Insurance launch, a product of Jubilee Life Insurance/HANDOUT
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to address the escalating financial pressures on Kenyan households, Jubilee Life Insurance has officially launched Faida Elimu Insurance Plan.

The transformative education protection and investment solution is designed to ensure that a child’s academic journey remainsuninterrupted,regardlessoflife’suncertainties.

WhileeducationisoftenhailedasakeypillarofKenya’seconomy,therealityformanyKenyanfamiliesis increasingly defined by education uncertainties and uneasiness.

According to Kenya’s Inequality Crisis Report by Oxfam, approximately 36% of Kenya’s population is under the age of 15, with over 14 million pupils currently enrolled in primary and secondary schools. However,significantfinancialbarrierspersist,withhouseholdsspendingupto14%oftheirincomeon school fees alone.

FaidaElimuInsurancePlanstrengthenstheVision2030goalbytheKenyangovernmenttoachievebasic education supported by the state’s primary mandate to ensuring successful transition through the education system by enforcing policies that prevent learning disruptions by empowering parents to proactively secure their children's transition to the next education level, thereby supporting national human capital development.

Ann Chelagat, Director, Market Conduct, IRA, cuts a ribbon to officially launch Faida Elimu Insurance in an effort to address the education financing gap./HANDOUT
The Faida Elimu Insurance Plan moves beyond traditional insurance by functioning as a high-yield, investment-linked policy that mandates a long-term savings discipline. It is engineered to provide a  financial safety net against school fee  shocks and   the sudden disruptions caused by loss of income or family tragedy that often force children out of school.

Asman Mugambi, CEO and Principal Officer at Jubilee Life Insurance Company Limited said, “As a company,wearecalledtothinkbeyondproductsandintentionallydesignpracticalsolutionsthatrelieve boththepsychologicalandfinancialburdensamongKenyanfamilies."

"Everyparentwantstheirchildtogo further thanthey ever did,withoutanything limiting that dream. Predictability and dignity ensure that a child’s education journey continues even when life takes unexpected turns.”

(R to L) Dr. Julius Kipngetich, Group CEO; Ann Chelagat, Director, Market Conduct, IRA; Asman Mugambi, CEO Jubilee Life and Juan Cazcarra, Deputy CEO, Jubilee Holdings during the official unveil of Faida /HANDOUT
Faida Elimu Insurance Plan is designed for accessibility, allowing for monthly contributions starting from as low as KES 5,000 or a one-off deposit of KES 100,000 with a top option.

It integrates an investment linkedwithLiferiskcomponentthatofferscompetitivereturnsalongsideamandatoryLastExpense coverof Sh100,000andLifecoverofupto Sh1 million.ThisstructureisspecificallytailoredforKenyan parentsandguardianswhoarenavigatingtherisingcostsofprivateandspecialisededucationandseeka secure way to plan, save, and protect their children’s academic future.