Britam’s Boresha Elimu Plan – The Ultimate Education Insurance Solution for Kenyan Parents

Education is one of the most valuable gifts a parent can give their child. In Kenya, the cost of quality education continues to rise, making it essential for parents and guardians to plan ahead. Britam’s Boresha Elimu Plan is a specialized education insurance policy designed to help families save for their children’s education while providing comprehensive financial protection. This guide will walk you through everything you need to know about the Boresha Elimu Plan, how it works, its unique benefits, and why it could be the smartest way to secure your child’s educational future.

Britam, a leading insurance provider in Kenya, has a strong reputation for innovation and customer-centric financial solutions. Their education plans, especially the Boresha Elimu Plan, are tailored to meet the needs of Kenyan families navigating the new 2-6-3-3-3 curriculum and the ever-changing education landscape.

What Is Education Insurance and Why Does It Matter?

Understanding Education Insurance

Education insurance is a savings and protection plan that helps parents accumulate funds for their children’s school fees while providing a safety net in case of unforeseen events such as disability or death. Unlike ordinary savings accounts, education insurance policies are structured to ensure that the child’s education is not interrupted, regardless of what happens to the parent.

How Education Insurance Works in Kenya

With the introduction of the competency-based 2-6-3-3-3 curriculum, education costs are now spread over more years and critical transition points. Education insurance plans like Britam’s Boresha Elimu are designed to align with these milestones, releasing funds when they are most needed, such as at the start of secondary school or university.

Benefits of Education Insurance Over Traditional Savings

• Disciplined Saving: Regular premium payments instill a savings habit.
• Guaranteed Benefits: Lump sum payouts are assured at key education stages.
• Protection: In case of the policyholder’s death or disability, the plan continues, and the child’s education is protected.
• Tax Advantages: Some education policies offer tax relief on premiums paid.

Common Myths and Facts

Myth	Fact
Education insurance is expensive	Plans like Boresha Elimu are designed for affordability, with flexible premiums.
You lose your money if you don’t use it	The plan pays out guaranteed amounts at maturity or on key milestones.
Only the wealthy need education insurance	Rising education costs affect all families; everyone can benefit from planning ahead.

Detailed Features of Britam’s Boresha Elimu Plan

Eligibility and Policy Terms

Britam’s Boresha Elimu Plan is open to Kenyan residents aged 18 to 60 years. The policy term can range from 6 to 18 years, allowing you to align the plan with your child’s education timeline-whether you’re planning for primary, secondary, or university education.

Age Limits and Cover

• Entry Age: 18–60 years
• Maximum Cover Age: 70 years

Premium Payment Flexibility

You can choose to pay your premiums monthly, quarterly, semi-annually, or annually. This flexibility makes it easier to fit the plan into your household budget.

Medical Underwriting

The plan offers both medical and non-medical options:

• Non-medical Option: Maximum sum assured of KES 5 million.
• Medical Option: No upper limit on the sum assured.

Alignment with the 2-6-3-3-3 Curriculum

The Boresha Elimu Plan is structured to provide payouts at the critical transition points in the Kenyan education system, ensuring your child’s school fees are covered when needed most.

Feature	Details
Policy Term	6–18 years
Entry Age	18–60 years
Maximum Cover Age	70 years
Premium Options	Monthly, Quarterly, Semi-Annually, Annual
Lump Sum Payouts	3 guaranteed payouts in last 3 years
Premium Holiday	Last 2 years of policy term
Waiver of Premium	On death/disability of policyholder
Loan Facility	Up to 80% of policy value after 3 years
Surrender Benefit	After 25th policy month

Comprehensive Benefits of Britam’s Boresha Elimu Plan

Guaranteed Lump Sum Payouts

One of the standout features of the Boresha Elimu Plan is the three guaranteed lump sum payouts in the last three years of the policy. Each payout is equal to the sum assured, providing significant financial support at crucial education milestones.

Waiver of Premium Benefit

If the policyholder dies or becomes totally and permanently disabled before the policy matures, Britam waives all future premiums. The child’s education fund remains intact, and all maturity benefits are paid as originally planned.

Optional Death Benefit Rider

For added peace of mind, you can opt for an additional death benefit. If the policyholder passes away before the policy matures, this rider pays out the sum assured to the beneficiaries, while the plan continues to maturity due to the premium waiver.

Surrender and Loan Facilities

• Surrender Benefit: After the 25th policy month, you can access a portion of your savings if needed.
• Loan Facility: After three years, you can borrow up to 80% of your policy’s value, providing financial flexibility in emergencies.

Tax Advantages

Premiums paid towards the Boresha Elimu Plan may qualify for tax relief, making it a cost-effective way to save for your child’s education.

Securing Your Child’s Education

The plan ensures that your child’s education is protected, even if you are no longer able to provide for them due to unforeseen circumstances.

How Step by Step Insurance Supports You as a Trusted Britam Intermediary

Why Choose Step by Step Insurance?

At Step by Step Insurance, we act as your dedicated intermediary, making your journey with Britam’s Boresha Elimu Plan seamless and stress-free. Our partnership with Britam ensures you get the best advice, support, and service at every stage.

Our Role and Services

• Personalized Consultation: We help you understand the plan’s features and select the best options for your family.
• Application Support: Our team assists you in gathering documents and completing forms, reducing errors and speeding up approval.
• Policy Customization: We tailor the plan to fit your child’s educational milestones and your financial situation.
• Ongoing Support: We remain your point of contact for any questions, changes, or claims, liaising with Britam on your behalf.
• Claims Assistance: In case of a claim, we guide you through the process to ensure timely payouts.
• Updates and Education: We keep you informed about policy updates and new benefits.

How to Get Started

1. Contact us for a free consultation.
2. We’ll assess your needs and recommend the best options.
3. Our team will assist with the application and follow up with Britam until your policy is active.

Comparing Britam’s Boresha Elimu Plan with Other Education Savings Options

Other Britam Education Plans

Britam offers several education plans, including Super E, Msingi Poa, and Elimu Bora. Each plan has unique features, but Boresha Elimu stands out for its alignment with the new curriculum and its flexible, family-friendly benefits.

Feature	Boresha Elimu	Super E	Msingi Poa	Elimu Bora
Policy Term	6–18 yrs	8–18 yrs	5–15 yrs	6–15 yrs
Lump Sum Payouts	3	1	1	1
Waiver of Premium	Yes	Yes	Yes	Yes
Premium Holiday	Yes	No	No	No
Loan Facility	Yes	Yes	Yes	Yes

Education Insurance vs. Direct Savings/Investments

Pros of Education Insurance:

• Guaranteed payouts
• Built-in protection
• Disciplined saving

Cons:

• Less flexible than some investment options
• Early withdrawal penalties may apply

Pros of Direct Savings/Investments:

• Greater flexibility
• Potential for higher returns

Cons:

• No protection in case of death/disability
• Requires self-discipline

Frequently Asked Questions About Britam’s Boresha Elimu Plan

Who Should Consider the Boresha Elimu Plan?

Any parent or guardian who wants to secure their child’s education, especially those concerned about rising school fees and unforeseen life events.

What Happens if I Miss a Premium Payment?

Britam provides a grace period for missed payments. If premiums remain unpaid beyond this period, the policy may lapse, but you can often reinstate it by paying the arrears.

Can I Make Early Withdrawals?

Partial withdrawals (surrender) are allowed after the 25th policy month, but may reduce your final benefits.

What if the Policyholder Dies or Becomes Disabled?

All future premiums are waived, and the plan continues as scheduled, ensuring your child receives the planned benefits.

Can I Adjust My Premiums or Coverage?

You can often increase your premiums or sum assured, subject to Britam’s terms and conditions. Decreasing premiums may not always be possible.

How Do I Apply and What Documents Are Needed?

You’ll need identification, proof of income, and details about your child. Step by Step Insurance will guide you through the process.

Step-by-Step Guide to Applying for Britam’s Boresha Elimu Plan

1. Needs Assessment: Consult with a Step by Step Insurance advisor to determine your savings goals and coverage needs.
2. Documentation: Gather required documents (ID, child’s birth certificate, proof of income).
3. Application: Complete the application form with our assistance.
4. Review and Submission: We review your application for accuracy and submit it to Britam.
5. Approval and Policy Issuance: Once approved, you’ll receive your policy documents and payment schedule.
6. Ongoing Support: We provide continuous support for any future needs or claims.

Tips for Maximizing the Benefits of Your Boresha Elimu Plan

• Start Early: The sooner you begin, the more you save and the larger your benefits.
• Choose the Right Term: Align your policy term with your child’s key education milestones.
• Review Regularly: Update your plan as your financial situation or education goals change.
• Stay Consistent: Make premium payments on time to maximize your returns and avoid penalties.

Real-Life Examples: Is Britam’s Boresha Elimu Plan Right for You?

Scenario 1: Young Parent Planning for Early Childhood Education

Jane, age 28, starts a 15-year Boresha Elimu Plan for her 3-year-old son. By the time her son is ready for university, she receives three lump sum payouts that cover tuition, accommodation, and other expenses.

Scenario 2: Mid-Career Professional Saving for University Fees

Peter, age 40, wants to ensure his daughter’s university education is covered. He chooses a 10-year plan with higher premiums, ensuring substantial payouts at the critical transition to university.

Scenario 3: Family Seeking Comprehensive Protection

The Mwangi family wants both savings and protection. They add the optional death benefit rider, ensuring that even if something happens to the breadwinner, their children’s education is fully funded.

Alternatives to Britam’s Boresha Elimu Plan

Other Education Insurance Policies

• Compare offerings from other insurers in Kenya, such as Jubilee, CIC, and ICEA Lion.
• Consider differences in payout structure, flexibility, and additional benefits.

Direct Savings and Investment Options

• Money market funds, fixed deposits, and education unit trusts offer alternative ways to save.
• Weigh the pros and cons of each option based on your risk tolerance and savings discipline.

Conclusion – Why Britam’s Boresha Elimu Plan Is a Smart Choice for Kenyan Families

Britam’s Boresha Elimu Plan stands out as a comprehensive, flexible, and protective education insurance solution for Kenyan parents. With guaranteed payouts, built-in protection, and the support of Step by Step Insurance as your intermediary, you can plan confidently for your child’s future. Whether you’re starting early or catching up, this plan provides the discipline, security, and peace of mind every parent wants when it comes to their child’s education.