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This cover is designed as a savings tool to provide money to parents / guardians to fund their children’s education. At the maturity of the policy, the parent / guardian will get the benefit that was preselected as a lump sum and the money can be used to meet the education needs of the children.


Also, in the event of the untimely death of the parents / guardians, the sum will be paid out to the dependents listed in the policy, guarantying them funds to continue with their education. The policy is offered as a partnership between KCB Insurance Agency Limited and Liberty Life Assurance.

The insurance contract terms ranges from 5-20 years. The minimum sum assured benefit that parents can opt for is KES.50,000.00 while the maximum sum assured benefit will be KES.40 million.

In addition to providing a duly completed proposal form (available at all KCB Branches countrywide) you will be required to avail the following documents:


  1. Copy of ID Card and PIN Certificate of the parent or guardian
  2. Copy of birth certificate of the child or proof of guardianship

Below are the special features:


  1. Benefit Increase clause – the insured parent can choose to increase their premium annually based on a chosen increase rate and their sum assured will increase.


  1. Enhancement of Sum Assured – on policy anniversary, the insured parent can choose to enhance their sum insured by paying additional premium. This will correspond to the additional premium and will form part of the existing policy.


  1. Reduction of Sum Assured – insured persons who may experience financing strain in paying premium will get the option of reducing the sum assured under the policy as opposed to cancelling it. The reduced premium is used to determine the adjusted sum assured.


  1. Free Cover Limit – customers between the age of 18 to 65 years will qualify to purchase KCB Elimisha up-to a sum assured of KES.7,000,000.00 without being subjected to any form of medical examination. Customers who purchase cover with a sum assured above KES.7,000,000.00 will be required to undergo medical examination.


  1. Single and Joint Life Option – a single life policy covers the life of one parent and pays out the sum assured on either policy maturity or unfortunate demise of the insured parent.


A joint life policy covers the lives of the two parents. Customers have the option of including their spouse in the cover. An additional premium payable in respect of the second parent will attract discount of 15% of premium. On policy maturity, each parent is paid the full sum assured independently. In the unfortunate demise of either of the parents before policy maturity, 100% of the sum assured will be paid. The policy shall remain in force and continue covering the second life until policy maturity upon which the sum assured is paid out.


  1. Premium Payment

Premium is payable on a monthly basis for the entire term or duration for which the policy will run.  However, premiums are also payable on a quarterly, half-year and annual basis.  The discounts are advanced as follows:


Frequency Discount
Monthly No discount
Quarterly 3.33%
Half Year 8.33%
Annual 16.67%

Below are the associated benefits:


  1. Maturity benefit – the amount of money the insured parent selects to be paid out when the policy matures.


  1. Life Assurance Benefit – in the event of untimely demise of the parent as a result of accident, illness or disease. The sum assured is paid out as a lump sum. The benefit is paid immediately upon death subject to provision of all requisite claim documents.


  1. Permanent total disability cover- the benefit pays a lump sum in the event of incapacity due to bodily injury, illness, disease or surgery that results in permanent disability and incapacity of the policyholder to perform their current occupation. Once a claim is made for the condition, this benefit will cease but the policy will remain in-force for the remaining benefits until maturity or death.


  1. Double accident benefit – an additional payment is provided where the death of the insured person occurs due to an accident. The policy beneficiary will receive double the sum assured if this rider is selected.


  1. Critical Illness Cover – the benefit pays out 35% of the sum assured on first diagnosis of any of the following conditions:


Cancer, heart attack, stroke, major organ transplant, end stage renal failure, paraplegia, coronary artery surgery, aorta surgery and replacement of heart valve.

Once a claim is made for this condition, this benefit will cease but the policy will remain in force for the remaining benefits until maturity/death where upon the full sum assured will be paid.


  1. Waiver of premium on retrenchment – in case the insured parent is retrenched from salaried employment, this rider will waive premiums payable for a period of 6 months after retrenchment. Premiums are waived after 30 days from the date of retrenchment, allowing the parent or guardian ample time to restructure their finances.


  1. Funeral Benefit – 10% of the sum assured is paid out within 48 hours of notification of the death of the insured parent or the child insured (maximum of two children covered). Maximum amount payable for this benefit shall be Kshs.200,000.00 per person. Regulatory limits will apply in case of death of child or children.



As you make a claim, be aware of the following details:


Claims Notification All claims due for consideration under the policy must be submitted immediately but not later than six months from the happening of any of the insured events.  All necessary claim documents must thereafter be submitted within twelve months for the claim to be honored.
Maturity Benefit
  • Original policy document
  • Copy of insured s parent identity document
Death Claims
  • Certified copy of death certificate
  • Certified copy of identity document of deceased
  • Copy of police report if death was accidental
  • Completed claim form signed by nominated beneficiary
  • Certified copy of identity document of beneficiary
Disability and Critical Illness
  • Original medical report
  • Copy of insured s parent identity document
  •  Letter from employer informing  policyholder of the retrenchment
  •  Copy of policyholder parent identity document
Conditions Claims are settled within Seven (7) days upon receipt of full documents and execution of discharge voucher.


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