The NEW Boresha Elimu Plan

The Boresha Elimu Plan

The current Kenyan education sector is bound to experience significant changes with the looming shift from 8-4-4 system to the proposed new education system, 2-6-3-3-3, which is skill based rather than exam based.

The Boresha Elimu Plan is a product from Britam that has been designed to meet the need of a new education product that is in line with the proposed new education curriculum, 2-6-3-3-3, which is due for roll out in 2019.

The Plan is appealing to individuals as it is designed to meet the needs of individuals who are saving with the aim of meeting some future education cost while still providing heavy protection cover against death and total permanent disability.

 

Why do you need the Boresha Elimu Plan?

The Boresha Elimu Plan helps you save for your child’s education where the benefits payable align perfectly with the proposed new education curriculum.

 

Key Features of the Boresha Elimu Plan

• The minimum age of the life assured at inception is 18 years and the maximum age is 60 years.
• The Boresha Elimu Plan has 3 guaranteed lump sum amounts equal to the Sum Assured payable in the last 3 years of the policy which is funded by regular premiums payable throughout the duration of the plan.
• Premiums will not be payable for the last 2 years of the policy. The premiums are very affordable and are payable either monthly, quarterly, semi-annually or annually as you desire.
• The Boresha Elimu Plan offers terms of between 6 and 18 years, which the proposer selects during policy inception. The maximum age on cover is 70 years.
• The product will have a “with medical underwriting option” and “without medical underwriting option”.
• The “without medical underwriting option” will have a maximum sum assured of Ksh 5 Million. The “with medical underwriting option” will not be subject to upper limit sum assured.

Key Benefits of the Boresha Elimu Plan

The Boresha Elimu Plan is a smart, simple and affordable education saving plan with the following main benefits;

• Guaranteed Bonus Payments; this is the main benefit of this product. The Boresha Elimu Plan pays 3 guaranteed lump sum payments in the last 3 years of the plan which are equivalent to the sum assured.
• The Free Waiver of Premium Benefit; In the event of death or total permanent disability of the life assured before maturity of the policy, the company will keep the policy in force up to the maturity date. This benefit therefore guarantees payment of the maturity benefit.
• Optional Lump Sum Death Cover; The cover has an optional death benefit rider, which pays the sum assured in the event of death of the assured life before maturity, where still the maturity benefits are guaranteed due to the waiver of premium on death and total permanent disability. The sum assured for the death rider is subject to a maximum equal to the sum assured for the main benefit.
• Surrender Benefits; the surrender benefit is offered as a standard non-forfeiture provision and may be accessed from the end of 25th policy month.

 

Why should I take the Boresha Elimu Plan?

The Boresha Elimu Plan offers the following value to the policyholder;

• The Plan offers high savings returns; the product offers a higher return as compared to other average education insurance products.
• The Plan has an option for lower policy terms; the minimum term is 6 years and the product can support terms of up to 18 years.
• The Plan Design is simple and easy to understand; this makes it easy for the potential policyholders to understand the structure of its benefits.
• The Plan allows for high entry ages up to age 60; the maximum entry age for most endowment products is currently set at 55 years.

You are eligible to apply for the Boresha Elimu Plan if you are between age 18 and 60 and a Kenyan citizen. You can apply by completing the Boresha Elimu Plan application form for cover.

Illustration for Boresha Elimu; 15 YEAR PLAN for a person aged 40 YEARS

Get Started Today

Please contact Gallin Wekesa- a Britam Financial Advisor on 0712-870-447 and gallywexa@gmail.com for more information and to sign up.

www.britam.com

This product brochure gives the salient features of the plan only. For further details on all the terms and conditions, please contact Britam or our Financial Advisor to get a copy of the Policy Contract.