The following education insurance policy calculators, or rather the education insurance savings plan calculators, are designed for the Kenyan market for School Fees planning.
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An education insurance policy calculator (school fees planning calculator) helps parents/guardians to prepare for their children’s future education, therefore, guaranteeing it. An education policy is a must for every parent who wants peace of mind, knowing they have already taken care of their children’s future education needs. You can use the amount to pay school fees and pay for other school necessities such as uniforms and other school supplies.
These education planning calculators are of two types: Jump Instead To:
A 3-bonus education savings plan calculator.
3 Bonuses Education Savings Plan Calculator
Estimate planning for milestones like IGCSE, CBC Junior, or Senior Secondary (3 annual bonuses).
Expected Payout Schedule
Plan Summary
Enter your details above to see your premium holiday and savings mechanics.
This one gives 3 bonuses at the end of the last 3 years of the policy. The last 2 years of the plan, you do not pay any premium; you enjoy a 2-year premium holiday.
It has a policy term between 6 and 18 years, and you must be between 18 and 60 years to join this plan. The maximum age you can have while in this plan is 70 years.
It is designed to align with the IGCSE Lower Secondary level and the CBE Junior Secondary or Senior Secondary. All these levels of education take 3 years to move to the levels.
The school fees for IGCSE lower secondary in international schools are approximately Ksh 1,400,000 each year, amounting to Ksh 4,200,000. The school fees for CBE Junior Secondary or Senior Secondary will cost you approximately Ksh 200,000 each year, amounting to A total of Ksh 600,000 to complete each level, i.e. Junior Secondary or Senior Secondary.
Using these figures to give an example, if the school fees for IGCSE lower secondary are Ksh 1,400,000 each year, you need to ensure you enter a monthly contribution (premium) that gives 3 bonuses, each amounting to Ksh 1,400,000. The 3 bonuses will cover the school fees comfortably. You can also choose your own bonus amount.
A 4-bonus education savings plan calculator
4 Bonuses Education Savings Plan Calculator
Comprehensive planning with 4 annual bonuses during the final years of the policy.
Expected Payout Schedule
Plan Summary
Enter your details above to see your premium holiday and savings mechanics.
This calculator gives 4 bonuses in the last 4 years of the plan. You will enjoy a 3-year premium holiday in the last 3 years of the policy.
You must be between 18 and 55 years, and the policy term is between 8 and 22 years.
This calculator is well aligned with IGCSE A and O levels that take 4 years combined, each level 2 years, and the tertiary level, which takes 4 years to complete. If you want your child to join a 3-year tertiary level education system, then you go back to the 3-bonus education insurance calculator.
The estimated amount for each year in A and O levels in the IGCSE system is KSh 2,500,000. So the total school fees required to complete A-level are Ksh 5,000,000, and another Ksh 5,000,000 to complete O-level.
For the tertiary level, we have assumed a school fee of 5,000,000 each year for those following the IGCSE curriculum, and Ksh 600,000 for those under the CBE system.
To give an example of how this education policy calculator works, if you are covering the A and O -level in the IGCSE system, you need to enter a premium, given your age and policy term, so that the bonuses given each should be equivalent to Ksh 2,500,000.
