KCB Bank launch insurance scheme for clients
CAPTION: KCB Bank Uganda and Jubilee Life Insurance staff during the launch of insurance scheme in Kampala September 22nd, 2026. (Courtesy Photo).
By Celia Abenawe Nsimire
KAMPALA – KCB Bank Uganda has launched KCB MyCare, an affordable insurance solution developed in partnership with Jubilee Life Insurance, designed to provide customers with financial support during hospitalization and help families navigate the financial impact of unexpected loss.
According to the 2024 National Population and Housing Census, only 1.1% of Uganda’s household population had health insurance coverage, with coverage standing at 1.6% in urban areas and 0.7% in rural areas. The Insurance Regulatory Authority of Uganda also reported that insurance penetration stood at 0.86%, highlighting the significant gap in insurance uptake and the opportunity to make protection more accessible and relevant to more Ugandans.
Against this backdrop, KCB Bank Uganda is expanding its customer proposition beyond traditional banking services to provide practical financial protection when customers need it most. Under the new solution, eligible KCB personal banking customers aged between 18 and 70 years can access cover for a monthly premium of UGX 3,000. Customers receive UGX 50,000 for every eligible night spent in hospital, with cover extending to a maximum of 36 nights annually.
The product also provides a UGX 2 million funeral benefit in the event of the insured customer’s
death.
The cover does not require a waiting period once the policy becomes active, and there is also no deductible or co-payment. Customers can enroll through KCB Bank channels, including its branches and Mobi-App.
The product is particularly relevant to salary earners, self-employed individuals and informal sector workers, including people whose incomes may be affected when they are unable to work because of illness or hospitalization.
Miranda Bageine Musoke, Head of Retail Banking at KCB Bank Uganda said the product reinforces the bank’s focus on developing solutions around the complete financial needs of its customers.
“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 Classified as Confidential Recipient Only accessible through channels our customers already use. This is about helping our customers stay financially resilient even when unexpected events occur,” he said.
CAPTION: KCB Bank Uganda and Jubilee Life Insurance staff during the launch of insurance scheme in Kampala September 22nd, 2026. (Courtesy Photo).
Through the partnership with Jubilee Life Insurance, KCB Bank Uganda is combining its established customer and distribution network with insurance expertise to make financial protection more accessible.
“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. “John Katende, Chief Distribution Officer, Jubilee Life Insurance Company of Uganda Ltd.
The product offers a number of features intended to simplify the customer’s experience. There is no waiting period, no deductible or co-payment, while approved valid claims are paid directly into the customer’s bank account within five working days.
Customers are required to notify the insurer or broker within 48 hours of hospital admission and can submit the required claim documents through any KCB branch or via the Bancassurance email address.
At UGX 3,000 per month, KCB MyCare provides customers with up to UGX 150,000 in hospital cash for three eligible nights in a month, while the annual hospital cash protection can extend to UGX 1.8 million across 36 eligible nights. In addition, the UGX 2 million funeral benefit provides financial support to beneficiaries when the insured customer dies.
KCB Bank Uganda is encouraging eligible personal account holders to visit their nearest branch or use available KCB digital channels to learn more and enrol.
About KCB Bank Uganda
KCB Bank Uganda is a commercial bank licensed by the Bank of Uganda, the central bank and national banking regulator. The Bank operates a growing network of 16 branches, 21 ATMs, 568 Agents and 736 Merchant outlets across the country, providing innovative financial solutions to Classified as Confidential Recipient Only individuals, businesses and institutions. Its mission is “To drive efficiency whilst growing market share to be the preferred financial solutions provider in Africa with global reach.”
