Letshego Uganda partners Sanlam, Turaco to provide affordable insurance in Uganda

Letshego Uganda partners Sanlam, Turaco to provide affordable insurance in Uganda

Signed & delivered; Letshego CEO Giles Aijukwe (center in brown suit) stands besides Turaco GM Hamza Mutebi, IRA’s Head of Research and Development Sande Protazio and Sanlam’s GM Corporate Martin Mutyaba after inking the Tier 2 LetsGo Insure solution for Letshego customers.

KAMPALA  – Letshego Uganda, a subsidiary of Letshego Africa Holdings Ltd and Turaco Insurance Brokers have partnered with Sanlam Uganda to provide affordable health insurance coverage to all Letshego customers.

Giles Aijukwe, CEO Letshego Uganda said the partnership seeks to mitigate health-related financial risks in line with Letshego’s mission of empowering the underbanked and underserved – driving financial inclusion in Africa.

“Access to quality healthcare should not be a luxury. By providing affordable health insurance, we ensure that individuals across all income levels can safeguard their well-being without financial strain,” Mr. Aijukwe said.

He added: “This commitment aligns with our core values of inclusivity and social responsibility. We aim to empower our clients to lead healthier lives and protect themselves against unforeseen medical expenses. Through this initiative, we strive to make a meaningful impact on the lives of our customers and communities.”

Latest figures show that only 1 percent of Uganda’s about 45 million people have access to formal medical insurance.

Mr. Aijukwe says  Letshego continues to look for ways to help bridge that gap.

How Letshego will benefit

Letshego and Turaco have been in partnership since 2023, providing health insurance to Letshego customers with loans over UGX 550,000 with their flagship product LetsGo Insure. Now with Sanlam Uganda, Letshego and Turaco can extend insurance to all customers, regardless of loan size,” he explained.

LetsGo Insure will continue to provide: Hospital Cash and Life Cover. The LetsGo Insure cover for loans under UGX 550,000 provides: UGX 300,000 Hospital Cash benefit and UGX 1,000,000 of Life benefit. For loans above 550,000 customers receive an annual benefit of UGX 1,000,000 Hospital Cash and UGX 2,000,000 Life cover.

Hospital Cash is a benefit that pays out a fixed amount if the insured is hospitalized for at least two (2) nights. The money can be used as a financial cushion to cover medical expenses or lost income. Life benefits are paid out to the insured’s family in the unfortunate event of their passing, easing the burden of funeral expenses during a difficult time.

The vast majority of Ugandans today remain unreached by mainstream insurance. “This collaboration unlocks affordable health insurance for even more Ugandans! I’m thrilled to join forces with Letshego and Sanlam Uganda for this cause,” Hamza Mutebi, General Manager Turaco remarked.

Martin Mutyaba, the General Manager Corporate at Sanlam Life Uganda said the collaboration exemplifies their commitment to innovation and addressing the evolving needs of our diverse customer base.

“We believe that cost-effective health insurance can be a transformative force in enhancing financial freedom. Through this partnership, we are excited to make it more accessible to a wider audience.”

Source: PML Daily

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