Letshego Uganda, Turaco, and Sanlam collaborate to enhance health insurance coverage in Uganda

Letshego Uganda, a subsidiary of Letshego Africa Holdings Ltd, and Turaco Insurance Brokers have teamed up with Sanlam Uganda to offer cost-effective health insurance coverage to all Letshego customers.

The collaboration unveiled on Feb.27, aims to reduce health-related financial risks, aligning with Letshego’s mission of empowering the underbanked and underserved populations and fostering financial inclusion across Africa.

With only 1% of Ugandans presently covered by formal insurance schemes, Letshego is committed to closing this gap. Since 2023, Letshego and Turaco have been collaborating, offering health insurance to Letshego customers with loans exceeding Shs550,000 through their flagship product, LetsGo Insure. Now, with the addition of Sanlam Uganda to the partnership, Letshego and Turaco can provide insurance to all customers, regardless of their loan amount.

LetsGo Insure will continue to provide: Hospital Cash and Life Cover. The LetsGo Insure cover for loans under Shs550,000, provides Shs300,000 Hospital Cash benefit and Shs1m of Life benefit. For loans above Shs550,000 customers receive an annual benefit of Shs1m Hospital Cash and Shs2m 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.

Executives speak

“Access to quality healthcare should not be a luxury. Providing affordable health insurance ensures that individuals across all income levels can safeguard their well-being without financial strain. 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,” Giles Aijukwe, CEO of Letshego Uganda said. 

“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 of Turaco said.

Martin Mutyaba, the General Manager of Corporate at Sanlam Life Uganda said, “This collaboration exemplifies our 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.”