What happens if I can't keep up the premiums?

After 2–3 years, the policy usually has either (a) a surrender value, or (b) a 'paid-up' option where premiums stop but a reduced sum assured matures at the original date. We model these scenarios at placement.

Is the maturity payout taxable?

Generally not, under current Kenyan tax treatment of long-term life and endowment products. We do not provide tax advice — confirm with a tax advisor for your specific situation.

Can I change the maturity date or beneficiary?

Some products allow extending the term or changing the named beneficiary. Bringing the maturity forward is usually not possible. We confirm flexibility at placement and document the change procedure.

What if my child does not pursue university?

The maturity benefit is paid regardless — it is a lump sum, not earmarked for tuition. You and the beneficiary decide what to do with the proceeds. Some families use the funds for vocational training, business start-up, or a deposit on the child's first home.

Life & Savings Insurance

Education / Savings Plan

Disciplined savings toward your child's education or a major milestone, with life cover built in to protect the goal.

Get an Education Plan Quote Talk to an Advisor

Guaranteed maturity payoutWaiver of premium on deathTop-up flexibilityFrom KES 3k/month

Guaranteed

Maturity Payout

Premium Waiver

If Parent Dies

Guaranteed

Maturity Payout

Premium Waiver

If Parent Dies

Years Experience

Underwriter Partners

Claims Paid 2024

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Google Rating

Education and savings plans are endowment-style policies designed around a specific future goal — typically a child's secondary school or university entry, or a milestone like a deposit on a home. You commit to a regular contribution for a defined term; the insurer invests the premiums; and a defined sum (plus accumulated bonuses) becomes available at maturity. If the policyholder dies during the term, the policy continues with no further premiums and the maturity benefit is still paid in full.

Vike places education and savings plans for parents and grandparents who want a disciplined, ring-fenced savings vehicle for a defined goal. We are honest that pure investment products (unit trusts, money market funds, sacco shares) typically outperform endowments on a return basis — what endowments uniquely provide is the protection element: the policy continues if the breadwinner dies, so the goal is not at the mercy of family circumstances.

What It Covers

Guaranteed maturity benefit at a defined date (e.g. child's 18th birthday)
Annual reversionary bonuses added to the sum assured (with-profits)
Terminal bonus on maturity (selected products)
Premium waiver on death of the principal — policy continues to maturity
Premium waiver on permanent disability of the principal
Life cover on the principal for the full term
Optional periodic withdrawal benefit at defined ages (selected products)
Surrender value available after a minimum period (typically 2–3 years)

Who It's For

Parents saving for primary, secondary, and university fees
Grandparents funding a grandchild's education
Couples saving toward a defined goal — home deposit, wedding, business start
Self-employed individuals using endowment as a forced-savings discipline
Anyone wanting savings that continue even if the saver dies prematurely

Types We Cover

Each profile is rated and underwritten differently. Talk to us so we can match your specific situation.

Single-Life Education Plan

Premiums paid by one parent, child named as beneficiary. Most common structure. Maturity typically aligned with secondary school or university entry.

Joint-Life Plan

Both parents are insured lives; the policy continues on death of either. Slightly higher premium but stronger continuity protection. Common for couples both contributing.

Anticipated Education Plan

Pays out in scheduled tranches at key education stages — e.g. 25% at age 14 (Form 1), 25% at age 18 (Form 4), 50% at age 19 (university entry). Matches cash flow to actual school fees.

Pure Savings Endowment

Lump sum at maturity for a non-education goal — home deposit, wedding, business start, retirement supplement. Same structure, different milestone.

Real-World Scenarios

Saving from birth for university

Parents commit KES 8,000/month from the child's birth for 18 years. Total contributions ~KES 1.73M; projected maturity value (with bonuses) ~KES 2.5M — released as the child enters university. If a parent dies during the term, premiums stop but the maturity payout is still made in full.

Anticipated payouts matching school stages

An anticipated plan releases KES 200K at the child's Form 1 entry, KES 300K at Form 4, and KES 800K at university entry. Cash flow matches the actual peak fee periods, removing the need to find lump sums from current income.

Single mother takes endowment for home deposit

A 15-year endowment running parallel to a Sacco savings account provides the discipline and the protection element. If she dies, the policy still matures and the goal funds become available to her child.

Optional Benefits & Add-ons

Disability premium waiver

Critical illness rider on the principal

Family income benefit on death of the principal

Periodic withdrawal options

Beneficiary substitution flexibility

Top-up single premium contributions

Availability varies by underwriter. Our advisors will confirm what is available on your chosen policy.

Frequently Asked Questions

Expect a real return modestly above inflation — typically 1–3% real after the protection element is stripped out. Pure investment products usually outperform on return alone; endowments justify their place via the protection element and the forced-savings discipline.