HFC, through its bancassurance intermediary, has partnered with Britam Holdings to launch a convenient and flexible education policy dubbed Elimu.
The product is set to enable parents to provide an uninterrupted quality education for their children with high returns, flexible terms and guaranteed payouts.
The education plan will be available from HFC and underwritten by Britam Holdings as part of HFC’s diversification strategy.
“We are deepening our full-service bank offering including bancassurance solutions and this product will provide an avenue for our customers to plan and save towards quality education for their children whilst increasing insurance penetration in the country, which currently sits at only three per cent,” HF Group Chief Executive Robert Kibaara.
HFC is the banking arm of the HF Group and offers fully-fledged commercial banking and property finance solutions
Mr Kibaara added that the education solution has been tailored to accommodate diverse customer needs and allows for high age limit entry of up to 60 years and tenure limits as low as six years.
Britam Life Insurance Principal Officer Ambrose Dabani said that the partnership is well-aligned to Britam’s strategy to be a customer-centric organisation with education planning being a priority for them.
“Elimu is a brainchild of two brands that aim to offer more value to HFC customers by leveraging on our heritage and track record of ensuring parents are able to give their children quality education,” he said.