Bosak Microfinance Bank introduces Micro-Health Insurance to its customers

Recognizing the importance of affordable access to basic health care services for the disadvantaged population, Bosak Microfinance bank has introduced Micro-Health insurance service to its clients.

The scheme, which commenced in the 3rd quarter of 2018, has already started touching the lives of the target market. According to Mrs.  Augustine Joyce, a customer of the bank at Ikorodu who is one of the first customers of the bank to enjoy the service, the health insurance scheme is a good thing that Bosak has provided for its customers. The customer who became critically ill shortly after the scheme kicked-off, visited one of the Bank’s partner hospitals and enjoyed good medical care at a time when she had no money to visit a hospital for treatment. She has not ceased to express her appreciation to the bank for the laudable service since then. Another customer, Mrs. Folashade James, who had severe headache and visited one of the partner hospitals under the scheme expressed her joy to the bank. It was during the visit that it was discovered that her blood pressure was very high and was recommended for 3-days bed rest. In her words, “if I had not gone to the hospital and just used some tablets at home and continued my business, I don’t know what would have happened to me now”.

In the words of the MD/CEO of Bosak Microfinance Bank, Mr. Kola Bello, “the objective of the micro-health insurance scheme is to ensure that our customers are able to visit the hospital whenever they need to without worrying about money to pay for hospital bills”. He further stated that “we do not want our customers buying drugs on the street when they are ill because they cannot afford proper medical attention.”

The introduction of the Micro-health insurance scheme is one of the steps that Bosak Microfinance bank is taking to meet the 4 fundamental needs of the poor population namely: Access to finance to generate income, affordable healthcare, good housing, and access to education.

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