Old Mutual Life Assurance has entered into a strategic partnership with Rotary Uganda to launch an affordable, fully digital Group Funeral Cover specifically designed for Rotarians in District 9213 and District 9214. The new product offers accessible and dignified financial protection for Rotarians and their families, aiming to ease the financial burden during times of mourning. The collaboration is a significant step in Old Mutual’s mission to promote financial security and well-being within Ugandan communities.
Speaking at the launch event held at Four Points by Sheraton in Kampala, Patrick Kimathi, Managing Director of Old Mutual Life Assurance, described the partnership as a key milestone that aligns with the company’s sustainability goals.
“We are proud to partner with Rotary Uganda. By working hand in hand, we are not just providing financial protection to Rotarians—we are creating lasting impact through shared values and meaningful action,” Kimathi said.
Kimathi emphasized that Old Mutual’s vision goes beyond just selling insurance. The company is committed to building sustainable businesses, supporting community growth, and contributing to long-term prosperity.
Patrick Kimathi, Managing Director of Old Mutual Life Assurance
He explained that working with Rotary Uganda offers a valuable opportunity to support community-oriented initiatives that bring meaningful change.
Steven Lubowa, Head of Marketing and Distribution at Old Mutual Life Assurance, said the product targets approximately 10,000 Rotarians and Rotaractors in the two Rotary districts. The company has developed a digital distribution model to ensure the funeral cover is widely accessible. Members can easily sign up and manage their policies using WhatsApp, USSD codes, or an online portal, allowing them to access insurance services with convenience and speed.
Lubowa noted that the Group Funeral Cover is comprehensive and affordable. The product provides coverage for the principal member (the Rotarian), their spouse, children, and parents. Premiums start from as low as sh95,000 and go up to sh250,000 per year, offering different benefit levels to suit varying needs and budgets. “For example, under the sh250,000 premium option, the payout is UGX 15 million for the principal member, sh7 million for the spouse, and up to sh1 million per child,” Lubowa explained.
According to Lubowa, this partnership not only presents an opportunity to serve Rotarians but also opens doors to broader professional networks. Many Rotarians are CEOs, senior managers, and influential leaders in different sectors who can help Old Mutual extend its reach into wider communities.
Uganda’s insurance penetration remains significantly low, at just 0.86% according to the 2023 Insurance Regulatory Authority (IRA) report. Lubowa believes that by working with organized groups like Rotary, Old Mutual can help demystify insurance, make it more relevant, and contribute to increasing the country’s overall insurance uptake.
“Our goal is to reach more Ugandans with affordable, practical insurance products. Through Rotary’s network, we can extend our services to communities that have traditionally been underinsured or unaware of the importance of insurance,” Lubowa said.
He added that Old Mutual is experiencing steady growth, surpassing the industry’s average growth rate of 20% per year. Innovation and partnerships remain central to the company’s strategy as it seeks to develop market-driven solutions that address real community needs.
Steven Lubowa, Head of Marketing and Distribution at Old Mutual Life Assurance
Financial literacy is another critical area where Old Mutual is making significant investments. Lubowa said that promoting financial education remains at the heart of the company’s Environmental, Social, and Governance (ESG) agenda.
“We believe that empowering communities through financial knowledge is essential. It’s not just about selling products—it’s about helping people understand how to protect their financial future,” he said.
Lubowa acknowledged that insurance was not prominently featured in the recently announced national budget, either in public discussions or in government allocations.
However, he commended the efforts of the Insurance Regulatory Authority and the Uganda Insurers Association in advocating for the sector’s growth.
“There is positive momentum in the sector, and we appreciate the regulator’s strong push for innovation. We look forward to more government support through initiatives like the National Health Insurance Scheme and compulsory motor third-party cover for government vehicles,” Lubowa said.
He pointed to the IRA’s push for marine insurance as another example of sector growth opportunities. “At Old Mutual, we are aligned with these policy directions, and we will continue to advocate for greater insurance awareness and financial inclusion.”
The partnership with Rotary Uganda, he said, is a key platform for extending financial literacy beyond formal employment circles. “We know that some people may not have had formal schooling, but through partnerships like this, we can make financial education accessible to all,” Lubowa explained.
He cited previous collaborations, including with the National Social Security Fund (NSSF), where Old Mutual supported financial literacy programs through SACCOs. “This is the model we want to replicate with Rotary Uganda,” Mwanje added. Anne Nkutu, District Governor for Rotary Uganda District 9213, welcomed the partnership, describing it as an important step that reinforces Rotary’s commitment to serving communities and uplifting lives.
“Rotary stands for service above self. This partnership with Old Mutual Life Assurance is a reflection of our shared values—community, dignity, and impact,” Nkutu said.
She noted that the Group Funeral Cover offers Rotarians and their families critical financial support in times of bereavement, providing peace of mind and promoting solidarity within the Rotary fraternity. “It’s not just about financial compensation. It’s about the dignity and security we are offering our members and their loved ones,” she said.
Beyond the funeral cover, the partnership is expected to grow into a broader collaboration. Old Mutual has expressed interest in supporting several Rotary-led initiatives, including the Rotary Cancer Run, financial literacy campaigns, basic education programs, and environmental efforts such as tree planting.
Joan Nyanzi, CEO of Rotary SACCO, highlighted the SACCO’s role as a platform for genuine economic empowerment. She noted that the Group Funeral Cover is just the starting point, and there is potential to introduce additional insurance products that meet the needs of more vulnerable groups.
Joan Nyanzi, CEO of Rotary SACCO
“Many Rotary clubs organize family health days where they provide free medical services to underserved communities. We can explore the possibility of creating affordable micro-insurance packages for these people, especially the elderly who often lack basic health coverage,” Nyanzi said.
She also pointed out that some Rotary clubs already support young, expectant mothers who face stigma and abandonment.
“Imagine if we could provide these young women with a small, affordable insurance cover to ease their worries about delivery costs. That would be a profound way for Rotary to serve,” she added.
Nyanzi emphasized that cultural barriers often make people hesitant to embrace last-expense insurance products. “There are still taboos around discussing death. But in Rotary, we regularly contribute to support bereaved families, sometimes raising significant amounts in a very short time. This product would provide a more structured and equitable system,” she said.
She argued that many Rotarians may have significant assets but may not always have liquid cash readily available. “This funeral cover provides fairness and predictability in how we support each other.
Regardless of when a member passes on, everyone can receive the same dignified support,” Nyanzi said.
She encouraged Rotary clubs and other partners to embrace innovative insurance solutions that not only address community needs but also promote responsible financial planning.
“These products present business opportunities while allowing us to expand our service to those who need it most,” she concluded.
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