This Plan will enhance a savings culture amongst the boda boda cyclist enabling them to buy their own motor cycles

UGX
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Vuga Eyiyo is an insurance savings plan with the option to take out a life (protection) cover offered by NIC Life Assurance Company Ltd to boda boda cyclists which enables them to purchase insurance covers conveniently.
Under this arrangement, boda boda cyclists can purchase a NIC Life savings product and/or take out an affordable life (protection) cover. The Savings Plan will enhance a healthy savings culture amongst the boda boda cyclist enabling them to buy their own motor cycles, land and many more, whilst the life (protection) cover will provide
financial assistance to the loved ones of the boda boda cyclist, who is the breadwinner in case of their demise.

Extra

OPTION 1: Savings Plan
Under this option, the boda boda cyclists can buy an insurance savings plan for a minimum period of 1 year up to 4 years. At the end of the period, his savings alone with accrued interest becomes available to him.

Features and Benefits

  • Higher and Guaranteed interest rate of 5%
  • No charges on your withdrawals at maturity
  • Hassle free savings
  • Free accidental Death Benefit up to Ushs. 500,000/=
  • High fund accumulation to meet future financial needs

OPTION 2: Life (protection) Cover
Under this option, the boda boda cyclist can buy a protection cover for a minimum period of 1 month up to 12 months. In case he passes away during this period, a death benefit of Ush. 1,000,000 becomes payable to his loved ones.
Features and Benefits

  • Can be taken out for 1 month, 3 month, 6 month or 12 month.
  • Gives you a peace of mind.
  • Premium is as low as Ushs. 7,933