Estimating school fees should not feel like guess work. The following education insurance policy calculators are designed for school fees planning in Kenya.
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Education insurance premium calculator helps parents/guardians to prepare for their children’s future education.
An education policy is a must for every parent who wants peace of mind, knowing they have already secured an education fund for their children’s future school fees and related costs.
These education planning calculators are of two types: Jump Instead To:
Request A Quick Education Insurance Policy Quote
Education Savings Plan Quote Request
Please submit your child’s exact educational details below. A customized education savings plan proposal will be structured and sent directly to your WhatsApp.
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.
Example I
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.
Example 2
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.
How To Use Education Insurance Premium Calculator
Planning for your child's school fees should feel like guess work. To match the right school fees figures and the regular premiums, here are the steps to follow in using these two education insurance policy calculators.
- Select your current age. From the age dropdown menu, select your current age. Each calculator has an eligibility age. If your age is not included, you are not eligible. Either you are above or below the age bracket of each calculator.
- Choose Your Policy Term (Duration). Select the policy term from the dropdown menu. The policy term is the number of years your savings plan will run. This is not an arbitrary number. It should be guided by the level of education you are targeting in the future to raise funds for e.g. CBE junior secondary, IGCSE lower secondary, and so on, and the age or the current level your child is in. Each calculator has the minimum and maximum number of years that your savings plan can run.
- Enter Your Monthly Savings Budget. This is the amount you will be committing regularly to settle your premiums. This amount should be informed by your ability to pay or your target fund amount for the level you want to save for.
- Analyze Your Expected Payout Schedule & Summary. Once you have populated all the fields, the live results will be displayed. You will see the bonuses that will be paid at maturity and the timelines. On the result area, you can compare the total maturity payout (all bonuses) with your contributions. The difference between the two is what we call savings returns.
Life Protection
Besides the cash benefits, you shall also enjoy life protection. In the unfortunate events of death or permanent disability due to illness or accident, premiums are waived and the maturity benefits are paid when due to you or the beneficiary in case of death.
Tax Relief Benefit
If you select a policy term of more than 10 years, you shall enjoy a tax relief of 15% on your regular contributions, capped at KES 5,000 per month or KES 60,000 per year.
