What is AZ Bundle?
The AZ bundle is a mobile-based consolidated insurance package that consists of weather and health insurance that is aimed at absorbing shocks to the productivity of smallholder farmers from disasters like drought, excessive rainfall and illness which under normal circumstances would leave them in helpless and in losses.
The AZ insurance bundle covers weather-related risks and micro health insurance particularly hospitalization expenses for a family of six members per season.
Farmers with a maximum of 5 acres of land under production are eligible for this insurance package and are to pay a seasonal fixed price of Ugx 37,000/= to be able to access the full benefits of the AZ bundle with returns of up to 3,490,000 shillings per season.
A total of 6 family members are insured in this package and compensation is received when any of the respective family members have been hospitalized (admitted) or under treatment that would require hospitalization but administered from home for three or more days consecutively.
A maximum of five acres can be insured under this package and payment is made based on the percentage of destruction by drought or excessive rainfall.
If a policy owner (usually the head of family who buys the policy) passes on or the registered spouse, the family is compensated 5,000,000 shillings for support.