Why Kenyan Parents Don’t Buy Education Insurance

This blog doesn’t target those parents that are doing two jobs to put a roof over their kid’s heads. 

Nor does it target parents who don’t have money to pay for an education plan. 

This article targets the percentage of parents who’ve had a steady source of income for 2-10 years but never held education plans for their kids.

At the end of the article,  I'll share the motivation that keeps parents paying for an education  plan  for 10 years straight. 

Many Kenyan parents deem themselves to be experts on their way insurances are stealing their hard-earned money. 

So instead I'm going to write about how Kenyan parents are irresponsible and do not care about their children's future.

I understand that this is not a popular opinion. 

However it is the truth. What kind of loving parents wouldn't do anything to secure the future of the children? My answer is parents who don't give a s***. 

For example a Kenyan parent will tell you that contributing 2k per month for 10 years is a lot of money. In reality it's enough money to take your child through high school and University, assuming that your child goes to an affordable School. 

Contributing 5k showings per month for 10 years can ensure that your child get good quality education until the puzzle level. 

Therefore, the important question is why parents like contributing to education plans don’t. I mean what is so wrong about planning the future education of your child what is wrong with that unless you think your child is not worth the money. 

I'm going to discuss a few reasons why Kenyans hates education plans despite the fact that they have proven to be reliable.

  1. Lack of love

The first reason is a irresponsibility. Most first born children in Kenyan families are conceived to tame a man or trap him into marriage. In the same line, second born are born to keep a woman in check. When a married woman wants to explore other options, like grow her career, a man thinks of getting her pregnant and keeps her busy. 

So I guess you can see why it is so hard for Kenyan parents to think about having insurance plans that cover their children's education. 

Children in this country are born to serve the interests of the parents. 

So basically, a parent decides to have a child as leverage in a marriage or relationship. It is a sad reality. A reality that too Kenyans understand. 

What is sadder, is that the current generation has allowed this trend of giving birth children as leverage to continue. And that is why parents still do not take responsibility for the future of their children. 

  2. Misguided Priorities 

I personally have no kids and I always wonder how a parent has money to go clubbing, but not enough money to feed the kids for the month. 

I have watched women do expensive hairstyles to look good and not buy books for the children. I have seen men have fun every weekend, but they cannot afford to pay 3k insurance premiums for their children for a child's education plan. 

Maybe the sad reality is many Kenyans are having children when they are too young. A child can never take care of another child. These immature adults cannot think past today, and therefore end up ignoring things that will matter in the next 15 to 20 years, including the children's education.

  3. Parental Burden 

The current generation of parents do not take education plans for the children because their parents did not do the same. Parents advise their children to take a loan when they have a high financial responsibility of school fees. 

But the truth is most parents have nothing once they retire. The last generation of parents took out loans to put us through high school and colleges. 

But most of them retired before they could service their loans fully. Most of their retirement benefits went to clear their outstanding loans. That's why you see so many retired parents have nothing. 

It is absolutely foolish to follow the same trend that our parents used. By using loans as a way of paying school fees for your children you are setting up yourself for retirement with no money. 

Wouldn't you rather save 3k per month for your children's education plans in exchange to having money when you're retired, even if it's just money to cover your personal expenses and fun activities? 

Or would you prefer to be a beggar from your own children once you retire. We all know those children who think of the parents as a burden. Do not let that be your future.

  4. Lack of Financial Planning Skills 

It always amazes me how Kenyans strongly believe that they cannot use insurance plans to ease their financial burden in the future. Kenyans do not want to save. They think but somehow, somewhere they are going to get money whenever financial needs arise. 

That's not the reality because there isn't enough money to go around in the first place. An education plan is the only way to is easing the financial Burden in the future. 

  5. Lack of Self Awareness 

Ask any Kenyan parent what kind of parents they think they are and they won't give you an answer. Being a parent is a choice not an accident. The moment you chose to keep the child is the moment you choose to become a parent. 

You should always know the kind of parent you want to be. Will you be the kind of parent who tells your children that they cannot go to a national school because you cannot afford the fees? 

Or are you going to be the kind of parent tell their children to choose a course they are passionate about in college because you can afford it. It is your responsibility to look within you and understand the kind of parent you will be to your children. When you realise that you made the decision to make a mini human being, then you will realise that it is your responsibility to take care of that human being until it is capable of taking care of itself. 

Anyways, Kenyan parents want to behave like teenagers on steroids or drugs and do things that have serious consequences, then somehow I think that those consequences will disappear like magic. It is so disappointing that there are parents who truly believe that things will just work themselves out. 

  6. Bad Company 

This is the last one. You know how Kenyans will tell you that they don't have education plans for their children but they have them. They know there is no way you can verify that they pay insurance for their children's education. 

They also don't want you to know that they've secured their children's future. These are the same friends who will laugh at you behind your back when you cannot afford to pay your child's school. 

Anyway, if you see people Who can afford to take the kids to school Yet you are on the same job level or pay income level, Ask yourself a few questions. 

How Education Plans Help Parents 

Education plans are so simple to understand. For example if you choose to contribute 3k per month 10 years you will have a cool 360k plus bonuses. Chances are you will accumulate around 450k, which is enough to pay for a child's school fees from Junior High School to college. 

If you choose to pay 4k per month for 10 years you will have a cool 480k accumulated plus bonuses. Chances are you will get around 550k in total at the end of the day. This is enough to take through your kid from Junior High School to college, especially if they opt for technical degree. 

If you choose to pay 5k per month for 10 years you can accumulate a cool 600k at the end plus bonuses. Chances are you will end up with over 700k which is enough to take a child through high school and an expensive course like medicine in college. 

The thing is, you will pay for the cost of educating your children One Way or Another. If you choose to take loans, it might take you around the same time to pay the loans. Loans look appealing because you take in smaller amounts for a shorter period.

But, in the end you tend to pay more as a parent if you opt for loans as your way of paying lump-sum funds for school fees. 

TOP SECRET: What most people don't know is that you start reaping the benefits of a 10-year education plan after 4yrs. However, timing is everything. The ideal time to start paying an education insurance plan is when a child in Grade 2-3 so that the first payout  comes when your child is heading to junior high. 

If you've changed your mind and want to shop around for an education plan in 2022, email:educationplan.agent@gmail.com.