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Equity Bank Uganda and Liberty Life Assurance introduce hospital cash insurance for all

James Sserumaga, Senior Manager Bancaassurance Equity Bank unveiling Equi Life and giving the run down of how the product will work for the everyday person

The groundbreaking insurance plan, first of its kind on the Uganda market aims to alleviate the financial burden that comes after hospitalization, ensuring that families can focus on recovery rather than worrying about expenses.

✳ Customers on the Equi-Life cover will pay sh3,000 per month, securing coverage of sh50,000 per day for up to 20 days of hospitalization.
✳ To get a coverage of funeral expenses (mabugo) of up to sh3million

Kampala, Uganda | THE INDEPENDENT | Equity Bank Uganda has in partnership with Liberty Life Assurance launched an affordable hospital cash insurance product called Equi-Life that will enhance financial security and healthcare access for its customers and the general public.

“We recognize the challenge faced by individuals especially those in the informal sector when it comes to unexpected expenses associated with hospitalization. The Equi-Life insurance product offers a safety net to protect our customers, and it will provide critical financial relief for their families,” said Equity Bank Managing Director Gift Shoko at the launch at Sheraton Hotel today.

The new insurance product allows customers…

Equity Bank, Liberty Life and Turaco partner to offer disruptive Equi-Life insurance solution

Rising music star Victoria Nakiyingi aka IamVinka is the brand face of Equi-life. This was at the launch of the product at Sheraton Hotel on April 3, 2025

Equi-Life: Transforming Insurance Access in Uganda

BUSINESS ANALYSIS  | THE INDEPENDENT | Uganda’s insurance sector has demonstrated significant growth in recent years, with gross written premiums increasing from UGX 1.44 trillion in 2022 to UGX 1.6 trillion in 2023, this is according to the Insurance Regulatory Authority of Uganda (IRA) Performance Report released in 2023, reflecting an 11.29% increase year on year. Despite this progress, insurance penetration in Uganda remains relatively low. As of 2022, only about 4.5% of the population was covered by insurance.

To address this low insurance penetration, innovative distribution channels and product development have emerged as pivotal in enhancing insurance accessibility. One of the latest products to be developed is Equi-Life, spearheaded by Equity Bank Uganda and partners.

What Is Equi-Life? Equi-Life is a microinsurance offering in Uganda. It is an insurance cover tailored to provide hospital cash benefits and last expense support, ensuring peace of mind during hospitalisation and offering financial assistance for end-of-life arrangements.

The customer will be required to pay premiums on a monthly basis…