FAQs

We have our money market fund (MMF) which pools your funds with those of other savers and invests in secure financial instruments like treasury bills, fixed deposits, and short-term bonds. Your invested funds earn interest every day and compound monthly, allowing you to earn interest on the interest generated with a minimum initial investment of UGX 30,000. Kindly DM us your phone number and email address to enable us to tell you more about our products. 

We offer life assurance policies whose term ranges from 10 -25 years and which have a minimum monthly premium of KES 2,000. Additionally, we also have unit trust funds whose term ranges from 3-5 years with a minimum investment of KES 5,000 and minimum top up of Ksh.2,000. 

Our personal retirement scheme is flexible and one can pay monthly, quarterly, half-yearly or yearly as suits you. 

Our education policy (TOTO Plan) is an investment towards your child’s future education. The minimum premium per month is UGX 100,000, with a term of 8 years and above. It has a life benefit, that is, in case of the unfortunate demise of the policy holder, your child’s educational needs will be met when the policy matures, just like you had envisioned. 

Our home insurance covers against loss or damage to residential property and other valuable items owned by the insured. The cover also includes any injury or occupational illness that may be suffered by your domestic servants. 

Yes, we do offer a personal accident cover that includes medical expenses incurred as a result of accidents. The amount payable is UGX 23285 for a period of 4 months or less. 

Ordinary life whose policies are like */CEA/*, */AEW/*, */VES/* 

 The PayBill number for your life insurance covers is 300900, Account Number is your policy number. Kindly quote the complete Policy Number  

Pensions: 

PRS policies start with 90000/**** 

The PayBill number is 974203, Account Number is your policy number. Kindly quote the complete Policy Numbers. 

General Business: 

Motor, Home Insurance, Personal Accident Cover 

The PayBill number is 300901, Account Number is your Policy Number. 

Asset Management: 

Unit Trust Funds: Money Market, Equity, Growth and Bond Fund 

The Pay Bill number is 974200, the Account Number, Membership Number/ID Number and fund initials i.e: 00000000-MMF for Money Market Fund, EF for Equity Fund and GF for Growth Fund. Feel free to get in touch should you have any further inquiries 

Please visit cancer.icealion.com to get a quote and to get more information about the product content. 

There are 2 types of pension accounts. The first one is the provident fund that allows a member who has attained retirement age to take all his benefits in a cash lump-sum and the second one is the pension fund where a member who has attained the retirement age is allowed to get a third of his/her benefits in a cash lump sum while the balance(two thirds) is utilized towards purchase of an annuity or an income drawdown. We give a guaranteed interest rate of 4% however we have been able to go above and beyond in the past years, please see our rates for the past 5 years; 2014 – 12%,2015 – 8.2%,2016 – 9%,2017 – 10% and 2018 – 9%. We have one of the longest running pension funds in this country and thus have vast experience in the management of such funds. Our pension fund at the end of 2017 was in excess of Kshs. 40 billion.  To join our Pension service you are required to fill in an application form and return together with copies of your national ID, PIN certificate, one colored passport photo and make an initial deposit of a minimum of UGX 100,000. 

We’re a one-stop-shop for Insurance, Pensions and Investments services all collectively referred to as financial services. 

Our branches are as below: 

Head Office, Rwenzoni Courts: Rwenzori Courts Building Ground 1st & 2nd Floors Plot 2 & 4a Nakasero Road 

Jinja Road Branch: 3rd Floor Prime Plaza 

Lira Branch: Ground Floor Universal Interlink Building, Olwol Road 

Buganda Road Branch: 1st Floor Arrow Center 

Gulu Branch: 1st Floor, Housing Finance Building Acholi Road 

Lumumba Avenue Branch: 3rd Floor Rumee Building 

Mbale Branch: 1st Floor Saima Complex, Market Street / Cathedral Avenue 

Kampala Road Branch: Ground Floor Zebra Plaza 

Kabale Branch: 2nd Floor Nssf Building 

A policy earns a cash surrender value after 36 months of premium contribution. If the policy is below 36 months you can take a financial break, once ready to proceed with the policy you can reinstate the policy by clearing arrears or opt for a redate (pushing maturity period forward by number of months in arrears). In both options if the policy was inactive for over a year we kindly request that you go for a medical check up to enable us to activate the cover 

A Unit Trust is a type of investment where people with common savings and investment goals join a collective investment scheme that is managed by a professional investment/fund manager. The key advantage of this arrangement is that all investors, big or small benefit from the economies of scale the pooled funds provide. In Uganda, Unit Trusts are regulated by the Capital Markets Authority (CMA). At ICEA LION, we offer 1 Unit Trust Fund: Money Market Fund. For as little as UGX 30,000, you can setup a Unit Trust Fund account of your choice and top up with any amount you wish to save or invest at any time. 

An automatic premium loan is advanced on your policy to keep it in force in the event it is in arrears of 3 months or more, this is in line with section 2 conditions a,b and c of the Privileges and General conditions as indicated on your policy document. The amount advanced as loan is equivalent to the amount in arrears. The APL loan also accrues interest which needs to be paid back. 

This depends on the pension option you selected when you signed up with us. We have one where the funds are paid as lump sum, another where 1/3 is paid as lump sum & the remaining 2/3 buys you an annuity that pays you monthly. 

The interest rate is always subject to market performance and the date you choose to withdraw your funds. That said, our average interest rate per annum over the last two years has been 8% 

An endowment is a type of life insurance where you make monthly or periodical payments and you get a guaranteed payout after a specified period of time, i.e. when the policy matures or in the unfortunate event of your demise.  

An Anticipated Endowment is an insurance policy that gives you a platform to grow your savings by making regular payments (premiums) over a specified period of time. It is suitable for anyone who wants to save up for a long-term goal, but still wants to enjoy interim rewards to take care of short term goals. The policy offers partial payments at intervals of every 3 years. For 10 years, you will be paid 20% on the 3rd year, 20% on the 6th year and 60% on the 10th year plus accrued bonuses for the whole term. 

An Endowment With Profits policy is insurance that gives you a platform to grow your savings by making regular payments (premiums) over a specified period of time. It is suitable for anyone who wants to save up for a long-term goal and wishes to have a disciplined way to do so. This means that the policy offers a lump sum payout at the maturity of the policy. Each policy has a minimum term of 10 years monthly of KES 100,000.