By Guest Writer
Diamond Trust Bank (DTB) has officially relaunched its flagship children’s savings product, the DTB Kids’ Winner Savings Account, now enhanced with an integrated Life Assurance shield. Developed in partnership with Jubilee Life Insurance, the account aims to bridge the gap between long-term financial ambition and the reality of life’s unforeseen circumstances.
The account allows parents to deposit funds in trust for their children, encouraging disciplined savings while earning attractive annual interest. With a minimum opening balance of UGX 50,000 and free withdrawals up to four times a year, the account has long been a foundation of family financial planning.
This new feature ensures that children not only benefit from long-term savings but also enjoy added financial protection. To qualify for insurance cover, accounts must maintain: a monthly balance of UGX 300,000, and at least one deposit per month. Eligibility for children is below 18 years.
Parents stand to have benefits ranging from peace of mind for parents through combined savings and insurance protection, encouragement of disciplined long-term saving habits, attractive annual interest for accounts with balances above UGX 100,000 and accessibility with a low minimum opening balance.
Speaking at the launch, DTB CEO Godfrey Sebaana stated how this initiative is in line with the bank’s objective to combine protection and savings, ensuring financial security for the child’s future while encouraging the discipline that builds nations.
“As parents, our greatest ambition is to ensure that our children’s potential is never limited by our own unforeseen circumstances. By combining the growth of savings with the certainty of protection, we are providing a powerful new shield that ensures a child’s education and future remain secure.”
He further remarked, “This relaunch is a bold step in training the next generation on the value of financial literacy. We want to watch these little ones grow up financially sound, with a deep appreciation for how money should be handled.”
The insurance package provides a robust safety net for families, covering children from birth to 18 years. Key benefits include:
- Education Protection: A school fees benefit of up to 4 times the average quarterly balance.
- Coverage Caps: These benefits are capped at UGX 10,000,000 for natural death and UGX 5,000,000 for disability.
- Retrenchment Support: A payout of 2 times average monthly savings for up to three months following involuntary termination of employment not exceeding UGX 5,000,000.
- Health & Final Expenses: Hospital cash of UGX 30,000 per day for admissions exceeding three days.
- Child Last Expense: A UGX 500,000 last expense benefit is included to support families during difficult moments
The enhanced account aims to combine protection and savings, ensuring financial security for children while fostering a culture of consistent saving among families.
“At Jubilee Life Insurance, our purpose is to safeguard the ambitions that families work so hard to build. This partnership with DTB reinforces that commitment by ensuring that every child’s dreams remain protected, regardless of life’s uncertainties. By integrating comprehensive life assurance into the Kids’ Winner Savings Account, we are delivering more than a financial product, we are delivering certainty, stability, and a secure foundation for Uganda’s future generation. Parents are encouraged to open a DTB Kids’ Winner Savings Account today and give their children the gift of growth and security,“ said Eugine Mutekhele Ag.CEO Jubilee Life Insurance LTD. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).
