Zimbabwe’s second biggest mobile operator Netone launched an affordable micro mobile insurance that offers funeral insurance to its subscribers.
With premiums from as little as 40 cents per month one can get cover of up to $500, making it one of the most competitive products on the market.
With additional premiums one can get up to $3 000 worth of cover and the product also covers senior citizens up to 84 years of age.
OneCover, underwritten by First Mutual Life, seeks to drive inclusion through affordable plans, easy access, leveraging on the reputation and the market share of NetOne. The product is 100 percent mobile from sign-up to claims initiation.
On OneCover, Mr Isaya said: “We deliberately chose First Mutual Life because of their rating and equity that they have built in the insurance services. So these are two big brands coming together and availing a competitive funeral product.”
OneCover comes as a voluntary opt-in service which will be available to NetOne prepaid and post-paid subscribers who also have the privilege to add on their dependants so that the cover caters for everyone including senior citizens.
Questions arose over the waiting period for all plans which will be three months on main life assured except for accidental death.
There will also be a six months waiting period on other adult dependants, non-biological children, and biological children above 23 years age and subsequent spouses.
“NetOne is contributing to bridge the divide by promoting inclusivity of previously marginalised sectors of society. OneCover caters for all sectors of the society from the high-end to the low-end,” said NetOne acting chief executive Brian Mutandiro.
Source: The Herald