By Mark Kawalya
Hospital Sente, a low-cost hospital cash insurance product, has been developed to increase insurance uptake among low income families and underserved communities. The cover includes a funeral benefit and is a result of a partnership between Airtel Money Uganda, Prudential Assurance Uganda, and Insuretech Turaco Insurance Brokers Ltd.
The cover is aimed at easing the financial burdens that Airtel Money clients face in relation to healthcare admission needs and bereavement. Beneficiaries of the cover receive a cash payout when they are hospitalized.
By dialing *185*7*6#, using the Airtel Mobile Money platform, low-income individuals and families can access affordable coverage.
Underwritten by Prudential Uganda, Hospital Sente is powered by Turaco, a micro-insuretech that seeks to change the micro-insurance landscape in Uganda, and is offered using the Airtel Money Structure.
“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 and protect families against unexpected events.”
Beneficiaries receive hospital cash payouts upon inpatient hospitalization at accredited hospitals. This covers hospital admission for up to 10 nights within a year of the policy’s duration.
The policy also pays out a funeral benefit to the member’s next of kin in the event of death due to accidental or natural causes.
“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.”
Hospital Sente has three tiers of affordable plans that one can subscribe to.
The Platinum Plan has a cash payout of UGX 100,000 per night on admission, a funeral benefit of UGX 4 million, and a premium payment of UGX 5,000 per month.
The Gold plan has a hospital cash payout of UGX60,000 per night admitted, a funeral benefit of UGX2 million, and a monthly contribution of UGX3,000.
The Silver plan has a cash payout of UGX 40,000 for each night of hospitalization at a premium of UGX 1,000 per month.