Airtel, Prudential to pay out cash to members for every night in hospital in new insurance product
Airtel Mobile Commerce Uganda Limited (AMCUL) has in partnership with Prudential Uganda and Turaco Insurance Brokers Limited launched a new insurance product in which they will reimburse members for every night of hospitalisation.
Named Hospital Sente, the new insurance product will see members pay as low as shs1000 in premium per month and get a shs40,000 cash pay-out for every night spent in hospital, shs3000 premium and ssh60,000 cash pay-out per night for gold members and shs5000 premium and in return shs100,000 pay out per night for platinum members.
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On the other side, on the occasion of death, the next of kin for a member on silver plan will receive shs1million to cater for funeral, shs2 million for gold members and shs4 million for platinum members.
Speaking during the launch, the Airtel Mobile Commerce Managing Director, Japheth Aritho said the premium will be paid via Airtel Money and claims will also be paid through the same platform.
“The number of people with an insurance policy in Uganda is not more than one percent and most of these are the salaried workers. However, many people have lost property by selling it to pay for hospital bills but when you ask how much money they blow in bars or in avoidable things, it is a lot yet it would have been used for protection of the families. These are the things we want to deal with,”Aritho said.
“We believe that this partnership will help increase access to insurance for low-income households and help protect families against unexpected events.”
The Prudential Uganda CEO, Tetteh Ayitevie said the new product will help the insurance company reach more customers in a bid to provide them with financial protection in times of need.
“This offers an opportunity for a member who is hospitalised to get a cash pay out for the nights they spend in hospital and the days they spend off work without earning. We want to make sure whatever they lost without going to work is paid back to them,”Ayitevie said.
Hamza Mutebi, the General Manager for Turaco said the product is one of ways of ensuring insurance penetration in the country.
"Most Ugandans today remain unreached by mainstream insurance, all while being 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 that provides a safety net in their times of need and ultimately peace of mind,” Mutebi said.
According to officials, members will benefit with up to 10 nights paid for within a policy year.
To register for Hospital Sente, Airtel Money customers can dial *185*7*6#.
