NIC Life Assurance Company Limited, in partnership with SPADES Insurance Brokers Limited, has launched FLIP, a digitally accessible family life insurance product offering Ugandan households financial protection against death and Permanent Total Disability (PTD), with annual premiums starting at UGX 50,000.
The Family Life Insurance Plan allows a main member to cover themselves, one spouse, up to four children or dependants and up to two parents under a single policy, providing protection for up to eight family members.
Depending on the package selected, FLIP offers death benefits ranging from UGX 4 million to UGX 16 million, while PTD benefits range from UGX 2 million to UGX 8 million.
In the event of death, beneficiaries can choose to receive cash benefits, access funeral services through accredited funeral partners, or use a combination of both, subject to the terms of the policy and applicable benefit limits.
“Every family deserves financial protection when life takes an unexpected turn. Through FLIP, NIC Life, in partnership with SPADES, provides affordable and accessible protection against death and Permanent Total Disability, helping Ugandan families navigate difficult moments with greater financial security,” said Allen Amoko, Chief Executive Officer of NIC Life Assurance Company Limited.
The launch comes as Uganda’s life insurance market continues to expand, although insurance remains underutilised by a large proportion of the population.
According to the Insurance Regulatory Authority of Uganda, the country’s insurance industry recorded UGX 2.024 trillion in Gross Written Premiums in 2025, representing a 14.72% increase from UGX 1.764 trillion in 2024. Life insurance was a major contributor to the growth, with life premiums rising from UGX 702.2 billion in 2024 to UGX 977.6 billion in 2025.
The growth has continued into 2026. IRA reported that total industry Gross Written Premiums reached UGX 1.094 trillion in the first half of the year, up 7.68% from UGX 1.016 trillion recorded during the corresponding period in 2025. Life insurance premiums increased by 30.04% to UGX 524.14 billion over the same period.
Against this backdrop, FLIP is positioned as an effort to widen access to life insurance by combining lower-cost cover with a digital purchasing and policy management process.
Customers can access the product through flip.spades.co.ug using their mobile phones, allowing them to select a package, add family members and pay premiums through MTN or Airtel Mobile Money without visiting an insurance office.
Once payment is completed, customers can instantly receive or download their insurance certificate digitally. The platform also allows policyholders to submit claims online with the required documentation, view and download their policies, and renew cover using their policy number.
The product also includes a referral programme that allows individuals, companies, Saccos, associations and agents to refer customers and earn incentives on successful referrals, subject to the applicable programme terms.
“Insurance should not be something families think about only after a loss occurs. FLIP offers a simple and affordable way to protect the people who depend on them. Through affordable cover, a fully digital purchase journey and a broad referral network, we are bringing family protection closer to Ugandans and making insurance easier to understand, purchase and access,” said Christopher Ssengendo, Managing Director and CEO of SPADES Insurance Brokers Limited.
The companies said the product is intended to contribute to the broader financial inclusion agenda by making family life insurance more affordable, simple and accessible through digital channels.
