Low-Cost Hospital Cash Insurance Product With Funeral Benefits Launched in Uganda

Airtel Mobile Commerce Uganda Limited (AMCUL) has announced a strategic partnership with Prudential Assurance Uganda Limited and insurtech Turaco Insurance Brokers LTD to provide ‘Hospital Sente’, a low-cost hospital cash insurance product with funeral benefits. The product’s aim is to increase access to insurance for underserved communities, and low-income individuals and families.

The cover aims to ease Airtel’s customers’ financial burden associated with hospital admissions and death. Should a customer be hospitalised and in need, Hospital Sente offers beneficiaries with a cash pay-out.

Airtel designed it to provide affordable coverage for unserved individuals and families conveniently through its Mobile money platform.

The product which is underwritten by Prudential Uganda is offered through Airtel Money powered by Turaco, a Ugandan micro-insurtech.

“We are excited to partner with Prudential Uganda to offer this innovative and affordable insurance product to our customers,” said Airtel Mobile Commerce managing director, Japheth Aritho. “We believe that this partnership will help increase access to insurance for low-income households. It will also help protect families against unexpected events.”

“We are proud to partner with Airtel Mobile Commerce Uganda Limited (AMCUL) to bring this important product to the Ugandan market,” said Prudential Uganda CEO, Tetteh Ayitevie. “We believe that this partnership will help us reach more customers and provide them with the financial protection they need.”

Providing insurance to those who need it

Hamza Mutebi, general manager, Turaco said: “Most Ugandans today remain unreached by mainstream insurance. All the while they are the most vulnerable to financial shocks caused by illness, accidents and death. Strategic partnerships like these remain critical to enabling underserved Ugandans access to affordable insurance. It provides a safety net in their times of need and ultimately peace of mind. I thank Airtel Money and Prudential for joining us in driving mass market insurance adoption in Uganda”.

Hospital Sente offers hospital cash payout to beneficiaries upon inpatient hospitalisation at any accredited hospital. The policy pays for this benefit for up to 10 nights within a policy year. It also offers a funeral benefit which provides cover to the member on death due to natural or accidental causes. This benefit is payable to member’s nominated Next of Kin.

The product comes in three affordable plans:

• The Platinum plan comes with a funeral benefit of UGX 4Million. It also has a hospital cash pay-out of UGX 100,000 per night of admission at a premium of only UGX 5000 every month.
• The Gold plan provides a funeral benefit of UGX 2Million, hospital cash pay-out of UGX 60,000 per night at a monthly premium of only UGX 3000.
• The Silver plan offers a funeral plan of UGX 1Million, and a hospital cash pay-out of UGX 40,00 per night of hospitalisation at a monthly premium of UGX 1000.