Abstract: Uganda still has the lowest insurance penetration rate compared to its neighboring countries Kenya, Rwanda, and Tanzania in the East African region. This paper forecasts life insurance premiums and insurance penetration rates using the ARIMA model on annual data from 2000 to 2018. ARIMA (0, 1, 0) is the optimal model used with the least Akaike information criteria derived from Auto. Arima function in r. The forecast for life insurance premiums and the insurance penetration rate is done for 10 years (2019 to 2028).