In a bid to ease rising financial pressure on Kenyan households, Jubilee Life Insurance has unveiled the Faida Elimu Insurance Plan, an education protection and investment product aimed at ensuring learners remain in school despite economic or personal hardships.
The insurer says the plan responds to growing concerns over education affordability in Kenya, where millions of families continue to struggle with school fees.
According to Oxfam’s Kenya Inequality Crisis Report, about 36% of the population is under 15 years, with over 14 million pupils enrolled in primary and secondary schools. However, households still spend up to 14% of their income on school fees.
The product is positioned as part of efforts supporting Kenya’s Vision 2030 education goals by helping parents secure uninterrupted learning and reduce dropouts linked to financial instability, job loss, or family emergencies.
Jubilee Life says the plan goes beyond traditional insurance, combining savings and investment features with protection benefits designed to support long-term education planning.
Asman Mugambi, CEO and Principal Officer at Jubilee Life Insurance Company Limited, said: “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. 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 Faida Elimu Insurance Plan allows contributions starting from Sh5,000 monthly or a Sh100,000 one-off deposit option, and includes an investment-linked savings component alongside life cover of up to Sh1 million and a Sh100,000 last expense cover.
Jubilee Life says the structure is designed for parents navigating rising education costs, especially in private and specialised schooling, by offering a more structured way to save, invest, and protect a child’s academic future.