By mohamedj.bah@awokonewspaper.sl
Freetown, SIERRA LEONE – In a bold move to revolutionize financial protection, Ecobank Sierra Leone and Activa International Insurance have teamed up to launch the country’s most accessible accident insurance – priced cheaper than a plate of street food at just NLe 35 monthly.
The groundbreaking Ecobank Life Care Accident Insurance Policy, unveiled Thursday at the bank’s headquarters, promises to be a financial lifeline for thousands of Sierra Leoneans vulnerable to life’s unexpected blows.
Kate Thompson, Ecobank’s Consumer Banking Head, revealed the jaw-dropping benefits packed into this micro-premium plan:
– NLe 3,000 fatal accident coverage
– Full permanent disability payouts
– NLe 750 per temporary disability incident
– Complete medical expense coverage
“This isn’t corporate paperwork – it’s real protection for market women, bike riders, students, and hardworking families,” Thompson stressed, noting the product was shaped by customer pain points. “For less than the cost of a lunch, we’re removing the ‘insurance is only for the rich’ barrier.”
With Sierra Leone’s insurance penetration languishing below 2%, Activa MD Festus Awuah called the partnership “a financial democratization movement.”
“That okada rider who fears one accident could bankrupt his family? The single mother terrified of medical bills? They’re why we created this,” Awuah explained, as Abubakar Trye, Activa’s Business Development Manager, demonstrated how claims can be activated via simple USSD codes – no paperwork headaches.
Ecobank Sierra Leone MD Sebastian Ashong-Katai reframed modern banking: “Money isn’t just about deposits and withdrawals anymore. True banking means shielding customers from life’s earthquakes.”
The bancassurance model – a first for Sierra Leone’s commercial banks – allows policy signup during routine banking transactions. SLICOM’s Yayah Kalokoh praised the innovation: “This is how we’ll insure a nation – meeting people where they already are.”
Why This Changes Everything
- 24/7 protectionfrom just NLe 1.16 daily
• No medical exams – instant approval
• Women & children-focused benefits
• Seamless claims through Ecobank’s digital platforms
As the launch concluded, one question hung in the air: In a country where most live one accident away from financial ruin, could this NLe 35 safety net become as essential as mobile money?
How to Get Covered:
– Dial *277# on any network
– Visit any Ecobank branch
– Apply via Ecobank Mobile App
“Because the best time to buy insurance,” Thompson reminded the crowd, “is before you need it.” MJB/4/4/2025
