Kids pose for a picture during the Bank of Africa Tots-to-teens event last week

The Bank of Africa (BOA) in partnership with Jubilee Insurance last weekend launched a countrywide Tot 2 Teens savings campaign in which all parents in Uganda can enjoy up to 25 million in free life insurance and hospital cover.

The campaign which runs through the festive season to early 2019 also covers free medical check-ups, a zero monthly management fees, a free money box and great interest rates. The campaign runs through the festive season to early 2019.

Speaking at the launch of the campaign in Kampala, Stella Atim, the bank’s Head of Retail Banking at said “We are excited to have Jubilee Insurance as our partner of this amazing product and the Tot 2 Teens product is aimed at encouraging parents and children to start saving at an earlier age while enjoying a free insurance benefit.”

She said the interplay between insurance and banking is a critical strategy in supporting the penetration of insurance in the country which is below 1 percent and one of the lowest in the region. “Bank of Africa is one of the few licensed banks operating a Bancassurance business in the country,” Atim said

The Tots 2 Teens account comes with full life assurance component on the product for death, critical illness and permanent disability. The bank also provides financial literacy programs to children which provide a solid base their latter financial freedom and security in life.

The Tots 2 Teens activity is happening a cross all the BOA’s 35 branches in the country for the entire festive season and into 2019 and parents from all walks of life have been invited to visit any branch and register their children for the Tots 2 Teens product.