Jubilee Life Insurance has been acknowledged as the Best Excellence and Business Innovation life insurance policy provider in Uganda by People’s Choice Quality Awards, in consultation with the nation’s statutory bodies.
This follows the brands recognition as Uganda’s Best Life Insurance Company for two consecutive years, 2023 and 2024.
Upon receiving the award, the Jubilee Life Insurance CEO Sumit Kumar Gaurav expressed gratitude to their valued clients for the continued trust and confidence extended to the brand, a testament to the shared commitment to innovation and excellence.
“Any financial strategy is incomplete without insurance to financially cover one’s dependents from unexpected events. Yet insurance also has many inbuilt benefits. For instance, life insurance not only cushions beneficiaries after the policyholder’s death, but it often includes an investment component that allows policyholders to grow their funds to meetmajor life goals like buying a home or funding children’s education. It is such innovations that have kept us on the cutting edge of insurance,” said Sumit.
He advised that the most essential key to financial planning is starting early by opting for small insurance or pension policies adjusting as one’s income grows. He reasons that this is because insurance provides a protective layer that shields investments, allowing growth without the need for premature liquidation due to unforeseen events.
The People’s Choice Award was a result of a survey carried out from February June 20-27, 2025 in the four major regions of Uganda; the Northern, Western, Eastern and Central.
The total sample size was 40,000 respondents of which 2,781 votedJubilee Life Insurance as their brand of choice, representing 7%of the total vote.
The survey returned a bitter, sweet report card, while 34%, that’s 13, 752, of the respondents expressed interest in life insurance brands, 66% that’s 26,248 were disinterested.
This could be bitter because for all the efforts of the Uganda Insurance Authority and the respective players under its umbrella, there’s still a general apathy towards insurance.
But it could also besweet, that there’s still room for growth knowing that the market is not saturated yet.
According to the research, life insurance consumption stood at 34% representing a 6.3% increase compared to 27.7% the same time period last year. This was attributed to more consumption of Life Insurance due to public sensitization and the focus on Bancassurance .