Telecel ZImbabwe has just announced the introduction of a mobile life insurance product called Telecare. The product, a result of a partnership with Zimnat Lion, is available to all registered Telecel subscribers and provides funeral, hospital, local and international travel cover.
Telecare is available with two plans, the Value Plan and the premium plan. To join subscribers dial *808# and select the plan they are keen on. The two plans have two options, Single and Family. The single is for individuals and Family covers the policyholder, their spouse and up to four children.
All Telecare subscribers get funeral cover of up to $250 for any of the dependents registered. Subscribers who register for the service can make monthly payments for their premiums through telecash.
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These premiums are as low as $0.45 per month with benefits that include the free $250 funeral cover, $5 000 for local travel, $50 000 for international travel and $20,00 a day hospital cash back for up to 30 days.
The concept of mobile money insurance has been tried before by Telecel’s rival Econet through their now suspended Ecolife product. Unfortunately the outcome wasn’t a happy one for subscribers as the service disappeared.
You can read more from Telecel’s press release below