Your child’s dreams are limitless—make sure their education is, too! With a Soma Sure Premium Education Plan, you’re not just saving for school fees; you’re building a secure financial future that grows with them. This plan offers you the perfect blend of protection, savings, and investment growth, ensuring your child gets the best education while you enjoy peace of mind.
About Soma Sure Premium Education Plan
Soma Sure Premium Education Plan is an investment-linked education policy that enables you, as a parent or guardian, to save towards your child’s education by investing in a fund while enjoying insurance protection. With Kes 20,000 you can start the journey of securing your child’s future.
Why Sign Up for a Soma Sure Premium Education Plan?
You will be able to take up the following benefits at an additional cost.
- Waiver of Premium on Retrenchment Benefit: In the unfortunate event of retrenchment from your place of work, we will pay your regular premiums for 6 months as you work on securing another source of income.
- Waiver of Premium on Permanent and Total Disability (PTD): In case of permanent and total disability, we will pay your outstanding premiums so that the final payouts remain as you had intended, and the education of your child is not affected.
- Permanent and Total Disability (PTD) Benefit: You will receive a lumpsum payment equivalent to the difference between the target fund at maturity and the actual fund in the event of permanent and total disability.
- Critical Illness Benefit: You will receive a lumpsum payment equivalent to the difference between the target fund at maturity and the actual fund on the first diagnosis of a listed critical illness to assist you to seek medical care locally or abroad and to help you adjust to lifestyle changes.
- Family Income Benefit: Your beneficiary will receive a regular monthly income for a specified benefit payment term in the event of death due to accidental or non-accidental causes.
- Death Benefit: Your beneficiary will receive a lumpsum payment equivalent to the difference between the target fund at maturity and the actual fund in the event of death.
- Funeral Expense Benefit: Your beneficiary will receive a lumpsum payment in the event of death within 48 hours.
Frequently Asked Questions
What are the requirements to sign up for a Soma Sure Premium Education Plan?
Have a valid national identification card or Kenyan passport or Alien ID Have a KRA PIN
Be between the ages of 18 and 60 years at sign-up
Any other eligibility criteria shall be determined based on underwriting guidelines from time to time
What should I expect when I sign up?
- Once your policy is ready, you will receive an SMS confirmation message from Britam. A policy document will be sent to you through your email to confirm your cover.
- You will be able to view your statement through the MyBritam portal (available at https://customerportal.britam.com ) or app (available on Google PlayStore or Apple App Store).
How can I pay my premiums or make additional deposits into my Soma Sure Premium Education Plan?
There are various convenient ways to do this:
- MyBritam portal – Access this easily via https://customerportal.britam.com
- MyBritam app – Simply download and sign up on the app on Google PlayStore or Apple App Store
- Direct Debit – Set up regular deductions from your bank account Bankers’ or Personal Cheques written to “Britam”
- Salary deduction – Through your employer RTGS/EFT transfer
What will the interest rate be on my investment?
The returns will be determined by the performance of the assets in which your deposits are invested. We have a guaranteed net return of 5% per annum at maturity. You can earn more than this depending on the fund performance.
How much do you charge in management fees?
Soma Sure Premium Education Plan has a 0.25% monthly management fee charged on the fund value of your investment to professionally manage the fund on your behalf. This is to ensure that you get maximum returns on your investment.
How much do you charge for early withdrawal of my funds?
Any withdrawals before the 2nd year (25th month) will be subject to early exit charges as follows:
- Month 1 to Month 12 – 5% of the amount withdrawn
- Month 13 to Month 24 – 3% of the amount withdrawn
- Month 25 and beyond – Free
Interested?
Get in touch with a Britam Financial Advisor and they will walk you through the process of signing up.
Contact: Gallin Wekesa: gallywexa@gmail.com, gwwekesa@britam.com
Text/Whatsap: 0712-870-447