MTN Ghana launches aYo Family Cover Insurance

MTN Ghana, a leading provider of telecommunications services, has formally introduced “aYo Family Cover” that consists of a new hospital and a life insurance policy.

Ghanaians can purchase the product to obtain coverage for themselves and up to six family members.

All premium payments for Family Cover will be processed digitally through the MTN Mobile Money (MoMo) system.

Customers can use the insurance to provide life and hospital insurance for family members between the ages of 1 and 65.

Francis Gota, the Chief Executive Officer for MTN aYo, stated during the festive ceremony at the Kumasi Kejetia Market that 8.2 million Ghanaians have signed up for the aYo Family Cover.

Mr. Gota claims that MTN prioritizes the lives of its consumers, which is why the aYo Family Cover was introduced.

He said aYo subscribers will be charged GHC15 from their MoMo each month and receive GHC15,000 in life insurance as well as GHC300 every night in hospitalization insurance for the policyholder and other dependents and the policy also takes care of the hospital bills for 10days making it Ghc 3,000 for a beneficiary.

Reacting to question on the importance of the package this is the answer Mr Gota gave “If you get an information that a family member has died right now, what you normally do is that you do contribution and you know whether you have money or not so far as you belong to the family you need to contribute. In our market, many think insurances are for the rich and formal workers but we are leveraging technology to demystify that. Those who really need insurance is in the lower income bracket largely found in the informal sector of the economy because they need the protection the most”.

“Even if the amount it smaller you need to return a favor and so what we are doing is that when you start up the insurance policy you don’t need to borrow money because insurance company is going to give you the money to support the funeral” he added.

“The aYo is going to provide you the money to support the medical bills so you don’t need to borrow, you don’t need to put your hand into your capital or trading money to organize the funeral” Mr Gota said.

According to the aYo CEO, all that the customers need is to subscribe by dialing *296# send money using *170# or choose a yearly premium service by dialing *298*100# to take advantage of “RELEVANT, ACCESSIBLE and easy to USE Insurance Solutions and also advice them to get mobile money accounts in order to pay their contributions via Momo.

The Manager in Charge of Strategies and Projects for Sanlem Life Insurance, Mr Emmanuel Oteng Tuffour said their partnership with MTN Ghana to introduce the aYo Family Cover has been successful.

According to Mr Oteng Tuffour aYo started in 2017, and so far about 40,000 customers have benefitted from the policy.

He said Sanlem Life Insurance has paid Ghc14 million in the form of a claim by customers.

“MTN introduced an insurance policy for life and hospitality care that covers you and one family member on the other side and the hospitality is you alone but as time goes on you get a feedback from customers, customers want us to expand it, so we say less design this aYo family cover and expand the cover to not just the MTN subscriber but the family members as well” he stated.

Marian Appiah, the head of sales at Ayo Ghana, gave the utmost reassurance when she said that customers should expect quick claims settlement with documentation of hospitalization and death.

She explained that MTN Ayo honored claims in terms of hospitalization and general illness within a 24-hour window and within 72 hours in circumstances of the beneficiary’s death.

She added that customers may use the same short codes from the convenience of their phones to complete the claims requisition procedure without having to go to an MTN Ayo office.

Nana Kwasi Prempeh the Kejetia Petty Traders Association Chairman raise concern over poor tele communication network that has been the bane of traders, constraining a number of activities there and therefore plead with the mobile network service providers to improve their services to also serve their basic needs because almost all the traders use MTN at the newly constructed Kejetia Market.

Source: Ghanatodayonline.com