VisionFund Cares, Turaco saved our family house

Phionah with fellow customers at Wakiso Branch

When Margaret, the bread winner of the family took an agriculture loan, the purpose was to invest in the farm in order to improve the lives of those that depended on her. However, as fate might have it, she passed on in July 2022. This not only meant a change in a number of things but the dependents had to make quick amends to survive in her absence.

 

However, the deceased was heavily indebted and the burden to offset the obligations entirely relied on Phionah, the sister. She was worried about losing the family house since it had been used as collateral in obtaining most of the loans by the deceased. This would expose the orphans to a state of homelessness and even further consequences. Having been told about VisionFund Cares as the next of kin, she formally informed VisionFund Uganda about the demise of her sister in order to claim the benefits associated with credit life insurance as well as health insurance.

 

Through the partnership between Turaco and VisionFund Uganda, the life claim was processed alongside the credit life scheme claim. Under the VisionFund Cares product design, a death claim is entitled to benefits totaling to UGX 2,000,000 that goes directly to the next of kin. She was able to receive the money sent directly to her phone, some of which she used to pay off the outstanding loan obligations that the deceased has acquired away from VisionFund Uganda. The deceased’s loan obligation with VisionFund Uganda was settled by the credit life scheme insurer saving the family from being rendered homeless and worthless.

Phionah listens in

Phionah would later use the money from benefits to renovate the family house that was saved from the moneylenders, take care of the deceased’s child as well buy scholarship needs. She has ably managed to acquire administrative rights over the deceased’s estate in order to be able to sustain her family as well as forge a life after the tragedy. She remains grateful to VisionFund Uganda and Turaco for the benefits that have shielded the family from the financial shock that arose from the death of the bread winner and remains committed to walking this journey with VisionFund Uganda.