Investments Hacks: Young Medic Kills Two Birds at Once After Brilliant Financial Decision

Getting a job after seven years at the School of Medicine was a dream come true. 

After years of hard work at campus, I got the ultimate reward in 2022 when I landed my first job, exactly two years after my graduation.

The job, as expected, was well-paying with compensation way above that given to members of most professions in the country. 

My dreams, nonetheless, were bigger and I could not just sit pretty in the comfort of my monthly pay slip. 

For starters, I needed growth and a guarantee that I would one day achieve my dream of setting up a modern chain of clinics.

I also understood the importance of a retirement plan, which would guarantee a secure future even in my old age past my prime years. 

At my youthful age, the two questions posed a big puzzle, and I resorted to seeking advice from more experienced peers in the field.

One fine morning, my quest for insights led me to a certain Dr James Ojwang’- a seasoned medic whom we had a good rapport with, thanks to his cool demeanour.

I had just checked into a city hospital for my shift and bumped into him at the canteen.

“Morning daktari,” I greeted him as I approached his table at the hospital canteen.

He emphatically welcomed me, and we exchanged pleasantries as I waited for my order, tea and fried omelet. 

My relationship with Dr Ojwang was akin to that of a father to a son. I frequently sought his wisdom on both career-related and real-life issues. 

With his usual poise, daktari would tell stories to answer. Some were, however, thought-provoking and left me with bigger questions.

On this specific occasion, I grabbed the opportunity to enquire about the best way to realize my two goals: establishing my clinic and planning for my retirement. 

It took a brief explanation and Dr Ojwang’ was already aware of my concern. 

“Take it easy,” he said as he placed his cup back on the table. 

“In life you just have to plan, be disciplined and make the right decisions.” 

He went on to explain how insurance would help achieve some, if not all, of my goals in the future. 

A good life insurance plan, he said, would present an opportunity for better investment returns compared to normal savings accounts in banks.

At the time, I had a medical cover for myself and family provided by local insurance companies. I was also a member of the state-managed retirement benefit body as required by law.  

But I set my sights on an alternative insurance plan; one that would serve my interests both in the short term and long term. 

Faida Elite Comes in Handy

Fast forward, in 2024, I learnt about Faida Elite– a Jubilee Life Insurance product that offers premium payment flexibility, robust investment opportunities, and a comprehensive death benefit, ensuring that the client’s evolving insurance needs are always met.

When I first enquired about a proper insurance plan, my agents advised that I should look for a plan allowing me to invest surplus money.

This, as was elaborately explained to me, would be like having a second income. Today, this is my third month, and I am more optimistic than ever that it is the best route to achieving my ultimate goals. 

In November 2024, I joined the Faida Elite plan as the first step in my journey to being the entrepreneur I had always prayed for. 

The plan allows me to save Ksh50,000 every month, amounting to Ksh600,000 in a year. 

But it is the plan’s return on investment that I find mind-blowing and a cut above the rest of the players in the industry. 

Faida Elite offers a high return and flexibility on periods of saving and contribution modes (Monthly, quarterly, semi-annual, Annual, or single premium).

What Faida Elite Offers

It offers a death benefit of between Ksh100,000 and Ksh1,000,000, hence more funds directed towards investment. The funds are professionally invested and managed.

Its flexibility also stands out, as the policyholder can make payments either monthly, quarterly, semi-annually, annually, single premium, and even make ad hoc payments when they have extra funds.

Also, the policyholder can withdraw part or all their funds after the policy has been in force for 2 years or more. The policies have a duration of 5 to 15 years. 

Faida Elite targets aspiring high-net-worth individuals and those who are already established, keen on having a consistent and competitive return. One can start saving from as low as Kes 5,000.

I plan to continue saving into this fund and ultimately have enough to make my business move after the duration.

By then, the lump sum will come in handy as I will be contemplating my retirement plans.