Boresha Elimu Plan Online | Britam - Kenya
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Boresha Elimu (Education Plan) Content
This is a simple and affordable education savings plan, which secures the future for your child. It provides flexible pay-outs at important stages of your child's education, perfectly aligned with the new education curriculum 2-6-3-3-3.
- How will Boresha Elimu plan secure your child's future?
- What are the Benefits of the Boresha Elimu Plan?
- What are the Key Features of the Boresha Elimu Plan?
- Provides financial security during the most crucial years of your child's life.
- Offers a perfect blend of investment and savings in a single plan.
- Safeguards the child's future, even in the event of the untimely demise of the parent.
- Guaranteed lump sum amounts equal to the principal sum payable in the last three years of the plan.
- Guarantee payment of the maturity benefit, in the event of death or total permanent disability of the life assured before the maturity date.
- The Plan offers high savings returns; which is a higher return compared to other average education insurance products in the market.
- Guaranteed Bonus Payouts; this is the main benefit of this product. The Boresha Elimu Plan pays three guaranteed lump sum payments in the last three years of the plan, equivalent to the sum assured.
- Optional Lump Sum Death Cover; There is an optional death benefit, which pays the principal sum in the event of the untimely death of the assured life before maturity.
- Surrender Benefits; A surrender benefit is payable and may be accessed from the end of 25th policy month.
- Premiums contributions will not be payable for the final two years of the policy.
- The premiums contributions are flexible and affordable. They are payable monthly, quarterly, semi-annually or annually.
- Premium contribution period is flexible between 6 and 18 years depending on the education needs of the child.
- The product has a medical or none medical underwriting option.
- The Plan allows for late age entry up to age 60; the maximum entry age for most education products is currently set at 55 years
Boresha Elimu (Education Plan) Table
Boresha Elimu Plan
- High savings returns.
- lower policy terms (minimum 6 years)
- Simple product design.
- High entry ages up to age 60
- No premium remittances/payment for the last two years of policy.
- Optional Lump Sum Death Cover at affordable rates.
Other endowment Life policies
- Low customer returns.
- Lack of short term options.
- Complex product design.
- Low maximum entry ages