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Jubilee Insurance

Smart Save Insurance Plan

Savings plan with life cover · Regulated by the IRA

You pay a set amount every month for 5 to 20 years. Life cover is bundled in. At the end you get the cover amount plus any bonuses the company decides to add.

Hear when this changes

What to watch out for

  • You must be between 18 and 65 to join, and the plan must end by age 70.
  • You need a medical report if you are 54 or older, or if you want cover above KES 7.5 million.
  • If the medical check shows higher risk, they raise your monthly payment.
  • Nothing is paid if your payments are not fully up to date when you claim.
  • The bonus is 'up to' 4% a year. That means it can be less, and the brochure does not say it can be zero.
  • You need an ID, a KRA PIN and a filled application form to sign up.
  • It may not pay out if the death or disability came from a crime or an unlawful act.
  • It may not pay out if alcohol or drug misuse was involved.
  • It may not pay out for war or terrorism.
  • It may not pay out for hazardous activities.
  • It may not pay out if you started a fight or provoked an assault.
  • The brochure says the full list of exclusions is in the policy document, which you only see after you apply.

How to open this

  • Open with KES 2,000
  • then KES 2,000 a month
  • locked in for 24 months

What if you stop paying?

In the first 2 years you get nothing back. After 2 years you can stop and take a cash payment, or freeze the plan and keep smaller cover.

What if you need the money early?

You can only cash out after 2 years. The brochure does not say how much you would get. You have to ask an agent for that figure.

Who this suits

It could work for you if

You want to be forced to save for a fixed number of years, and you want life cover in the same product.

Think twice if

You need to know what this costs you before you sign. The charges are not published anywhere in this brochure.

What they tell you

  • What does it cost to get out early?
    They say the penalty period is 24 months but never print the rate.
  • What is the smallest amount you can start with?
    KES 2,000.
  • How long is your money tied up?
    24 months.
  • Do they list what is not covered?
    Yes, 6 things are listed.
  • Do they say who regulates them?
    Yes — the IRA. That is who you complain to.

Talk to them

Compared with the others

There are 13 other plans of this kind on the board. See all 14 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The up to 4% on this page is the rate Jubilee Insurance projected, as at 2026-08-15 — 2 months old.

Up to 4% a year of the cover amount, not of the money you pay in. It is declared each year and can be lower.

Where we got this

  • Jubilee Smart Save Insurance Plan brochurethe company itself
    Read on 2026-08-15