Beneficiaries applaud MTN and partners for affordable insurance product on Mobile Money

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The public have applauded MTN Uganda, Jubilee Insurance and AON for introducing the Life Care Insurance policy which they say has come in handy to help in the difficult situation when they lose their loved ones.

sharing at a media briefing session at MTN Service Center on Kyagwe Road, Ashabahebwa Musa who is one of the beneficiaries of the policy from western Uganda said he urged his late mother to take up the policy as a joke but it turned out like it was the hand of God that compelled him to because the payout came at a time when he did not have money on him to meet the funeral expenses when his mother unfortunately passed on recently.

“A few years ago I did not know what insurance is all about. No one explained to me the benefits and so I paid no particular attention to it. Fortunately MTN has made it simple for me and my people to take up an insurance policy and today I stand before you as a beneficiary”, Ashabahebwa said.

Another beneficiary, Kanyana Samuel who recently travelled all the way from Mbale to MTN towers, paid tribute for the timely payout when he lost his wife. Kanyana said it was his late wife who also convinced him to take up the policy with his risky and low paying job as a Boda boda rider in mind. Unfortunately his wife passed on before him during delivery and Kanyana promptly received a payout of Ushs 5 million to meet the burial expenses.

Speaking at the Media briefing session, MTN Uganda Senior Manager for Mobile Money Andrew Rugamba said ‘MTN LifeCare’ is the most affordable life insurance ever launched in Uganda. Unlike others, this insurance policy is affordable and has been uniquely designed to be easily accessed on the phone by MTN customers using Mobile Money. By doing so, MTN Uganda continues to lead innovation by becoming the first company in Uganda to offer affordable life insurance services paid through Mobile Money in partnership with AON Uganda & Jubilee Insurance.

Last year, MTN Uganda in partnership with AON and Jubilee Insurance launched “MTN Life Care”, a life insurance policy, which MTN customers can subscribe to through MTN Mobile Money services.  In the policy, Ugandans can buy MTN LifeCare for UShs 8,500/- to 24,500/- per year which will provide death benefits of UShs 1,000,000 to UShs 5,000,000 respectively.

Explaining the registration procedure, Rugamba said that a customer can simply dial *221# to get insured. They currently offer three cover options each with   different pay out values upon death of the insured MTN customer. According to Bodibe.

“MTN LifeCare customers are entitled to choose one beneficiary per package. This beneficiary can be changed at any time during the cover period. However, one can only take out one insurance policy per year. For one to qualify as a beneficiary they must be an MTN customer. Non-registered MTN Mobile Money customers can also register for ‘MTN LifeCare’, and their loved ones can pay on their behalf via Mobile Money.” said Rugamba.

On his part, the AON Director Large Clients/Business Development, Jeremy Kirkland said the insurance cover provides trusted security that is designed to meet the real needs of Ugandans at a price they can afford. Complicated processes like medical checkups or application forms for one to register for this insurance policy, subscribers simply enroll via their phone and the cover is immediately effective upon payment of the premium by the Mobile Money customer. The premium is a one off lump sum payment which covers 12 months upon which the customer can choose to renew it.

Patrick Kimathi, Manager Life and Bank Assurance at Jubilee Insurance, Uganda’s largest Insurer said “The claims process is very simple. Cash payout upon death of the insured is processed via Mobile Money within 48 hours upon receipt of the complete claim documents by Jubilee Insurance. Claim forms are available in all MTN Service Centres or Dealer outlets. The forms can be downloaded from the Jubilee website www.jubileeinsurance.com or MTN website www.mtn.co.ug/mobilemoney. Filled claim forms can either be delivered physically to the Jubilee Insurance head office or emailed directly to life@jubileeuganda.com

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