The new service was announced at an event held today at Meikles Hotel. OneCover is a micro mobile insurance that offers funeral insurance to subscribers. The service is in collaboration with First Mutual Life Assurance, who are the underwriters. This means there is no medical underwriting required for registration.
OneCover will be voluntary and users can opt in via USSD (*404#), SMS (404) and a mobile insurance app. The service is only available to Netone subscribers naturally but both prepaid and post-paid subscribers are included.
The major highlight from this is that the user experience is 100% mobile, from sign-up to claims initiation. With the mobile penetration in Zimbabwe being high as it is, NetOne is ensuring they properly serve as many Zimbabweans as possible. The premiums will be deducted automatically from a subscriber’s wallet. A reminder will be sent to the policy holder so that they can fund the wallet if there are insufficient funds.
NetOne is proud of the fact that OneCover caters to senior citizens as well up to the ripe age of 84. It will be much more expensive to insure senior citizens which is understandable. OneCover rates identify those 66 and older as senior citizens.
The monthly premiums start from 40c for a basic plan for a child up to $21 for a value plan for the 81-84 age group. There are 4 plans to choose from regardless of the age group. These are the Basic, Value, Plus and Xtra plans. One can upgrade to a different plan if required.
There will be cash payouts for all plans with the sum assured ranging from $500 to $3000. NetOne promise that payouts will be made within 24 hours of a claim being made. There are 24 hour call centres where subscribers can get assistance on claims if needed.
The waiting period is 3 months on the Main Life insured, that means for a first wife and biological children under the age of 23. The waiting period for all other dependents will be 6 months, subsequent spouses included too. The waiting periods do not apply to accidental deaths, which will be honoured even if the waiting period has not lapsed.
The highlights again:
- Cash payouts within 24 hours of the claim being made
- Senior citizens included
- 100% mobile user experience
- Affordable plans – upgrade and downgrade available