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 satisfied customer of the bank at Ikorodu business district, is one of the first customers to enjoy the service. According to her; “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 any hospital for medical treatment. She has not ceased to express her appreciation to the bank for the laudable service.

Another customer, Mrs. Folashade James, who had prolonged severe headache, visited one of the partner hospitals under the scheme. Following a visit to the hospital, she expressed her gratitude to the bank. It was during the visit that she was diagnosed with high blood pressure and 3-days bed rest was recommended. In her words, “If I had self-medicated and continued with my business instead of going to the hospital, I don’t know what would have happened to me now”.

Mr. Kola Bello, MD/CEO Bosak Microfinance Bank, stated that “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 added 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 tools employed by Bosak Microfinance Bank towards meeting the 4 fundamental needs of the poor population which include: access to finance to generate income, affordable healthcare, good housing, and access to education.

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