Yesterday at Radisson Blu Hotel in Lusaka a new innovation in insurance provided by mobile networks was seen as MTN Zambia launched a partnership with well know life assurance company Hollard Life Zambia. This partnership saw the birth of a life cover plan called “Edusure”.
The life cover plan which is exclusive to the MTN network will be based on providing education insurance for parents who would like to secure their children’s educational future in the event of death. The insurance scheme is designed to cater for current or future education costs for the children. Payments for the insurance scheme will be deducted from the registered customers mobile money account on a monthly basis.
How do you register?
Apart from being on the MTN network;
- You should be between the ages of 18 to 65.
- You should be a Zambian citizen or have permanent residency within Zambia.
- An NRC or Passport number.
- Spouse details which include full name and their date of birth.
- You should have an MTN Mobile Money account.
Once you have all the above, access the service by dialing *121#, following the prompts and registering.
What Levels of cover are being offered?
|Cover Level Premium Per Month|
|K2 500 K6.00|
|K5 000 K11.50|
|K7 500 K17.00|
|K10 000 K22.50|
What benefits does this service have?
- No Medical Examination is required from you.
- Purchasing and Managing your life cover is easy as it is done from your mobile phone.
- Accidental deaths do not have any waiting period.
- All claims are paid out 48hrs after documentation is received by Hollard life.
In true partnership spirit, Hollard life Zambia CEO Ian Malilwe said “The partnership with MTN Zambia builds on the telecom giant’s brand strength and increasing traction.”
Meanwhile at the same event, there was a signing of a Memorandum of Understanding (MoU) where the Pensions and Insurance Authority of Zambia (PIAZ) had sent one of their own, Mr Martin Libinga, Registrar of PIAZ, to sign. The memorandum is meant to assist PIAZ in the process of drafting micro insurance regulation to protect insurance policy holders in Zambia.
Image Credit: Insurance Chat