KCB Bank Uganda has launched KCB MyCare, an insurance product developed with Jubilee Life Insurance that provides eligible customers with hospital cash benefits and a funeral benefit, according to the bank.
The product comes as insurance coverage remains low in Uganda. The 2024 National Population and Housing Census found that 1.1% of Uganda’s household population had health insurance coverage, with coverage at 1.6% in urban areas and 0.7% in rural areas.
The Insurance Regulatory Authority of Uganda reported in April 2025 that insurance penetration stood at 0.86%. The regulator has cited limited awareness, mistrust and misconceptions about insurance among factors affecting the sector’s growth.
Under KCB MyCare, eligible personal banking customers aged 18 to 70 can access the cover at a monthly premium of 3,000 Ugandan shillings, according to KCB.
The product provides 50,000 shillings for each eligible night spent in hospital, up to 36 nights a year. It also includes a 2 million shilling funeral benefit if the insured customer dies.
KCB said the cover has no waiting period once the policy becomes active and does not require a deductible or co-payment.
Customers can enroll through KCB branches and the bank’s Mobi-App, according to the bank.
Miranda Bageine Musoke, head of retail banking at KCB Bank Uganda, said the product was developed to address financial pressures that can arise from illness or hospitalization.
“Our customers do not experience their financial lives in separate compartments. A health emergency can affect income, household budgets and the ability to meet everyday obligations. With KCB MyCare, we are responding to that reality by making protection simple, affordable and
accessible through channels our customers already use. This is about helping our customers stay financially resilient even when unexpected events occur.”
KCB said approved valid claims are paid directly into the customer’s bank account within five working days.
Customers must notify the insurer or broker within 48 hours of hospital admission and submit the required claim documents through a KCB branch or the bank’s Bancassurance email channel, according to the product information supplied by KCB.
At the stated monthly premium, the hospital cash benefit can provide up to 150,000 shillings for three eligible nights in a month and up to 1.8 million shillings for 36 eligible nights in a year.
The partnership brings together KCB’s banking and distribution network and Jubilee Life Insurance’s insurance business, with the stated aim of expanding access to insurance.
John Katende, chief distribution officer at Jubilee Life Insurance Company of Uganda Ltd., said the partnership was intended to make insurance easier to access through everyday financial services.
“Closing the protection gap requires us to rethink how insurance reaches customers. At Jubilee, our focus is not only on developing relevant solutions, but also on building partnerships that make protection easier to access and integrate into customers’ everyday financial lives. KCB MyCare demonstrates the power of bringing banking and insurance together to provide affordable, practical protection at moments when a financial shock could significantly affect a household. Through partnerships such as this, we are working to broaden access to insurance and strengthen the financial resilience of Ugandans.”
KCB is encouraging eligible personal account holders to visit its branches or use its digital channels to obtain more information and enroll in the product.
