A new country wide bank campaign encouraging parents and children to save during this festive season will also ensure the former get free insurance benefits and hospital cover to the tune of Shs25m.
Bank of Africa in partnership with Jubilee Life Insurance, last week launched a countrywide Tot 2 Teens savings campaign in which all parents can enjoy up to 25 million in free life insurance and hospital cover, free medical check-ups, a zero monthly management fees, a free money box and great interest rates. The campaign will be running through the festive season to early 2019.
Speaking at the launch, Stella Atim, Head of Retail Banking at Bank of Africa said the Tot 2 Teens product is aimed at encouraging parents and children to start saving at an earlier age while enjoying a free insurance benefit.
“The interplay between insurance and banking is a critical strategy in supporting the penetration of insurance in the country which is below 1% and one of the lowest in the region". Bank of Africa is one of the few licensed Banks operating a Bancassurance business in the country” Atim said
The Tots 2 Teens account comes with full life assurance component on the product for death, critical illness and permanent disability. The bank also provides financial literacy programs to children which provide a solid base their latter financial freedom and security in life.
The Tots 2 Teens activity is happening a cross all the Bank's 35 branches in the country for the entire festive season and into 2019 and parents from all walks of life have been invited to visit any branch and register their children for the Tots 2 Teens product.