Elimu Bora Education plan is a combination of insurance protection and a savings option that help parents to prepare for the cost of education for their children.
Elimu Bora Education plan is designed in a way to provide funds for the assured child while in secondary school and a lump sum amount for joining university or college.
Benefits of Elimu Bora Education Plan
Tax reliefAn insurance tax relief amounting up to 15% of the premiums paid ( subject to a maximum of ksh 5000) is available.
The full amount payable at maturity of the policy is tax free.
Guaranteed cash bonuses
Five annual bonuses amounting up to 20% of the sum assured are paid in cash after the child attains 13 years.
Maturity benefits
The policy will pay 100% of the sum assured on maturity before the insured 19th birthday regardless of any previous benefits payments e.g death or any other bonuses.
Death benefits
In the event of untimely death of the policy owner , Britam will pay the death rider ,waive all future premiums and provide full benefits at maturity. All future bonuses will be paid when they fall due.
In case of untimely death of child , Britam will pay the sum assured or refund the premiums, whichever is higher.
Lien option (Non- medical requirements)
This option provides for an increasing death benefit, death benefit will be a percentage of the sum assured at inception increasing to 100% of the sum assured from fifth year.
The increasing death benefit is cheaper and underwriting requirements are reduced.
N/B. Parents should take notice of this better saving and protection opportunity to secure children's education.
Britam office location and contacts
To contact Britam for guidance or for more information one can use the following:Britam Head Office
Mara/ Ragati Road junction, Upper Hill,
Nairobi.
Tel: +254 20 283 3000
Cell: +254 703 094 000
Email: info@britam.com
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