NIC Life Assurance Company Limited, in partnership with SPADES Insurance Brokers Limited, launched FLIP (Family Life Insurance Plan), an affordable and digitally accessible Family Life insurance product designed to help Ugandan families prepare financially for some of life’s most difficult moments.
FLIP provides financial protection in the event of the death of an insured family member and Permanent Total Disability (PTD) of the Main Member, with Annual Premiums starting from just UGX 50,000.
Under one policy, a Main Member can cover themselves, one spouse, up to four (04) children/dependants and up to two (02) parents – providing protection for up to eight (08) family members.
Protection for the moments that matter most
The loss of a loved one can bring emotional pain and unexpected financial pressure. FLIP provides financial support to help families through these difficult moments, while also protecting the Main Member against Permanent Total Disability (PTD).
Depending on the package, death benefits range 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, the family can choose cash benefits, funeral services through accredited funeral partners, or a combination of both, subject to the policy terms and applicable benefit limits.
A growing market with a large protection gap
FLIP is being launched at a time when Uganda’s life insurance market is experiencing strong growth.
According to the Insurance Regulatory Authority of Uganda (IRA), Uganda’s insurance industry recorded UGX 2.024 trillion in Gross Written Premiums (GWP) in 2025, representing growth of 14.72% from UGX 1.764 trillion in 2024. Life insurance was a major driver of this growth, with life premiums increasing from UGX 702.2 billion in 2024 to UGX 977.6 billion in 2025.
The momentum has continued into 2026. IRA reported that total industry GWP reached UGX 1.094 trillion in the first half of 2026, up 7.68% from UGX 1.016 trillion during the corresponding period in 2025, while life premiums increased by 30.04% to UGX 524.14 billion.
Despite this growth, insurance remains underutilised by a large proportion of Uganda’s population. FLIP seeks to contribute to the broader financial inclusion agenda by making life protection affordable, simple and accessible through digital channels.
Simple, digital and accessible
FLIP is available through flip.spades.co.ug, enabling customers to purchase and manage their cover using their mobile phones without having to visit an insurance office.
Customers can:
• Buy the FLIP cover by selecting their preferred package
• Add up to a maximum of 8 family members under a single policy.
• Pay Insurance Premiums through Mobile Money (Mtn or Airtel) within the system.
• Instantly receive or download their Insurance Certificate digitally upon payment of premium.
• Submit claims online together with the required documentation.
• View, download or renew their policy using their Policy Number.
• Refer others and earn a referral incentive on successful referrals, subject to the applicable programme terms with opportunities for individuals, companies, Saccos, associations and agentsparticipating in the referral programme.
QUOTE FROM NIC LIFE
“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, NIC Life Assurance Company Limited.
QUOTE FROM SPADES
“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, SPADES Insurance Brokers Limited.
Availability
FLIP is available now at flip.spades.co.ug For enquiries, call +256 200 910 906, WhatsApp +256 784 642 140, or email info@spades.co.ug
About Spades Insurance Brokers Limited
SPADES Insurance Brokers Limited is a Ugandan insurance brokerage firm focused on We working with insurers and strategic partners to develop and distribute innovative insurance solutions that respond to emerging and underserved risks, while using technology and alternative distribution channels to bring insurance closer to customers.
Under the brand promise, “Insurance, Redefined,” SPADES seeks to challenge traditional approaches to insurance by making insurance solutions more innovative, accessible, affordable, convenient and relevant to the everyday needs of Ugandans.
The company works with insurers and partners to design insurance solutions addressing emerging and underserved risks in Uganda.SPADES is licensed and regulated by the Insurance Regulatory Authority of Uganda and is a member of the Insurance Brokers Association of Uganda.
About NIC Life Assurance Company Limited
NIC Life Assurance Company Limited is a wholly owned subsidiary of NIC Holdings Limited, established in 2014 to exclusively manage life insurance and savings solutions following the regulatory separation of life and non-life insurance businesses.
NIC Life provides life assurance, investment and savings solutions designed to help individuals, families and organisations create, preserve and protect wealth.
NIC Life Assurance Company Limited is licensed and regulated by the Insurance Regulatory Authority of Uganda and is a member of the Uganda Insurers Association.
