Kampala, Uganda — MTN Mobile Money Uganda Limited has unveiled Cover by MoMo, a new mobile-based insurance platform designed to offer simple, affordable, and inclusive insurance services to Ugandans, starting with the launch of Family Cover by MoMo.
The groundbreaking product, developed in partnership with Sanlam Life Insurance Uganda Limited, aims to close Uganda’s insurance gap by enabling MTN MoMo customers to access life and hospitalization insurance for themselves and up to six family members, starting from as little as UGX 500 per month. Sanlam Life Insurance Uganda Limited is regulated by the Insurance Regulatory Authority of Uganda.
Built on MTN MoMo’s commitment to drive financial inclusion through digital innovation, Cover by MoMo brings insurance to the palm of every Ugandan and thus eliminating paperwork, long queues, and middlemen. With over 90% of Ugandans uninsured, this offering directly responds to the urgent need for accessible and practical insurance solutions.
“At MTN MoMo, we believe that every Ugandan deserves access to tools that protect their financial future. Cover by MoMo was developed to make insurance simple, mobile, and inclusive. With the launch of Family Cover, we are giving our customers peace of mind because they know they can protect their loved ones affordably and conveniently, straight from their phones,” said Jemima Kariuki, Chief Product Officer, MTN Mobile Money Uganda Ltd.
The Family Cover product offers two main benefits. The first is MyLife, which provides a lump sum payout in the unfortunate event of the insured member’s death. The second is MyHospital, which offers a cash benefit when an insured member is admitted to hospital—covering at least one night for accidents or a minimum of two nights for illness-related admissions
“We know insurance hasn’t always been easy to access. That’s why we’ve reimagined it with convenience, affordability, and inclusivity at its core.” ~ @yego_richard, CEO – MTN MoMo#CoverByMoMo | #FamilyCover pic.twitter.com/K3Kzf6DeNp
— MoMo from MTN Uganda (@mtnmomoug) July 1, 2025
Choose from premium plans ranging from UGX 500 to UGX 4,000 per month and enjoy benefits like life insurance cover of up to UGX 2,000,000 and hospital benefits of up to UGX 200,000, securing your future with flexible plans
The product also rewards responsible financial behavior with a 10% cashback bonus after 12 months of consistent cover.
“At the core of who we are is a mission to empower generations to be financially confident, secure, and prosperous,” said Nicholas Wavamuno, Business Intelligence and Growth Manager at Sanlam Life Insurance (U) Ltd. “In partnership with MTN MoMo, Family Cover by MoMo delivers on this promise—offering exceptional value, seamless enrollment, flexible payment options, and digital claims processing. This product empowers Ugandans to safeguard their loved ones and pursue their aspirations with complete peace of mind.”
Customers can easily sign up for Family Cover by MoMo by dialing _165_7# on their MTN line, selecting ‘Insure with MoMo’, choosing ‘Cover by MoMo’, and following the prompts to select their preferred premium and enroll.
Cover By MoMo is an easy to sign-up product, one of the easiest to find in the market.
All you do is dial *165#, and under Option 7(Invest & Insure), you’ll find Cover by MoMo. ~ @Jemima_Kariuki, CPO – MTN MoMo#CoverByMoMo | #FamilyCover pic.twitter.com/sSP9i4CMBa
— MoMo from MTN Uganda (@mtnmomoug) July 1, 2025
Once enrolled, customers can manage everything from adding family members, submitting claims, to checking policy status—all from their mobile phones using the same *165*7# menu or by visiting https://ug.coverbymomo.com.
This product is designed with working adults, peri-urban families, SME owners, and informal workers in mind, many of whom regularly use MTN MoMo but lack access to traditional insurance due to cost or paperwork. It also supports female-led households, youth supporting dependents, and mobile-first users seeking trustworthy, low-barrier financial services.
