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Jubilee launches savings fund for students

 

University and College students now have an opportunity to save for the future through a structured fund specifically tailored for post-secondary students. ‘Baada ya Campo’ is a Jubilee Insurance product that helps students build a fund during their course period of four to six years.

“The fund is intended to help the fresh graduates settle into life out of college by providing cash for immediate needs such as ‘daily living expenses, tarmacking, or even setting up business ventures for those enterprising fresh graduates,” explains Jubilee.

In addition to providing a savings plan, the Baada ya Campo fund also ensures that the student enjoys life assurance cover equivalent to 75 percent of the sum assured in the event of untimely death of the student during the years of study.

Contributions to the savings fund are in easy and affordable premiums and can be paid through Mpesa. The monthly premium options are set at Sh2,110, Sh1,580, Sh1,055. After the policy matures (at the end of the course), the policy holder will get back the accumulated amount and a terminal bonus of 10 percent of the sum assured.

Students have the option of paying their premiums with the tuition fees. The university/college administration will then transfer the premium to the student’s fund.

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