Stanbic, Prudential Expand Health Insurance Cover as Uganda Battles Low Insurance Uptake

KAMPALA — Stanbic Bank Uganda and Prudential Uganda have expanded their Medi-Protect health insurance solution, introducing higher coverage limits, broader medical benefits and a new low-cost hospitalisation package aimed at increasing access to health insurance among Ugandans.

The enhanced package comes at a time when health insurance penetration remains low in Uganda, with only a fraction of the country’s population covered despite rising healthcare costs. According to the two institutions, the upgraded Medi-Protect solution offers individual, family and inpatient-only cover options, giving customers greater flexibility to select healthcare protection that matches their needs and financial capacity.

The new inpatient-only package, which starts from UGX 350,000 annually, is expected to provide an affordable entry point for individuals seeking protection against major hospitalisation expenses.

Speaking during the launch, Stanbic Bank officials said the improvements were informed by growing demand for affordable healthcare financing solutions among Ugandan families.

Prudential Uganda noted that serious illnesses often create both medical and financial challenges, affecting household income, education expenses and long-term financial stability. The enhanced product also includes additional benefits such as maternity cover, dental and optical care, critical illness protection, life insurance, disability benefits and school fees support for children.

Industry observers say such innovations could help address one of Uganda’s biggest healthcare financing challenges. Many households still rely on out-of-pocket payments, which can expose families to significant financial strain during medical emergencies.

By leveraging Stanbic’s branch network and digital banking platforms, the partnership aims to make health insurance more accessible to individuals and families who have traditionally remained outside the insurance market.

As healthcare costs continue to rise, financial institutions are increasingly positioning insurance products as an important tool for protecting household finances and improving long-term financial resilience.