Centenary Bank, Uganda’s leading commercial microfinance bank has today launched the Diaspora Funeral Cover in partnership with Prudential Assurance Uganda Limited. Through this product, the bank will cover its customers in the diaspora and their families, provide transportation back to Uganda for their loved ones and accord them a decent send-off; in the unfortunate event that they lose them.
The Diaspora Funeral cover, which comes under the Centenary Bank’s Bancassurance offering, underwritten by Prudential, is specifically tailored for Ugandans in the diaspora. Customers can sign up for their preferred package at their convenience, using their mobile phones.
Speaking to the media at the launch of the Diaspora Funeral Cover, Fabian Kasi, the Managing Director, Centenary Bank, highlighted the importance of the insurance policy in offering relief to the bank’s customers in the diaspora who have been facing trying moments whenever they lose a loved one.
“For a long time, Ugandans living and working in the diaspora have encountered trying times whenever there is a need to transport their loved ones back home to accord them a decent send-off. The high costs involved in repatriating their loved ones as well as the other funeral expenses, have forced some families to sell off property or even opt for loans. This cover is our way of standing with our clients in the diaspora to ensure their dignity is preserved even when they leave this life on earth,” he noted.
In his remarks, the CEO Prudential Eastern and Central Africa, Mr. Arjun Mallik, expressed his gratitude and enthusiasm to work with Centenary Bank in delivering this cover meant to ease the financial burden Ugandans in the diaspora face during the loss of their loved ones.
“At Prudential, our purpose is to help people make the most out of life. Today, we have over 17 million customers worldwide, served across Africa through a distribution network of more than 13,000 agents and 600 bank branches. We are honoured to partner with Centenary bank to help our customers living in the diaspora minimise the high costs that come with transporting their loved ones and offering them a decent send off in the unfortunate loss of a life. We are happy to be the insurer that makes this possible for our brothers and sisters living and working abroad, in partnership with Centenary Bank,” he said.
The Diaspora Funeral Cover offers three different packages under Bronze, Silver and Gold to suit the customers’ needs. Annual subscription for this cover starts from as low as 19 dollars and covers the customer, spouse, children and parents. Existing CenteDiaspora Account holders can sign up for the cover from the Centenary Bank website on the CenteDiaspora Savings Account page. New customers can sign up for the policy after opening an Account using the CenteOn the Go feature on the CenteMobile App.
The Diaspora Funeral cover is available worldwide. For details on how to sign up, visit the CenteDiaspora Savings Account page under Deposit product on the Centenary Bank’s website.