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Message: [QUOTE="Munyaradzi Mafaro, post: 47970, member: 636"] MTN Mobile Money teamed up with Sanlam Life Insurance to create a new phone-based insurance service for Uganda. The telecom giant wants to help protect families across the country through their mobile money platform. More than nine out of ten Ugandans lack any insurance coverage right away. The new Family Cover service lets people buy protection for themselves and six relatives. Monthly payments start at just 500 shillings for basic coverage. The insurance covers two main situations that cost families money. MyLife pays out cash when someone dies to help surviving relatives. MyHospital gives money when family members need hospital care for accidents or sickness. People can choose different payment levels from 500 to 4000 shillings each month. Higher payments mean bigger payouts when families need help most. Customers dial a simple code on their MTN phones to sign up for coverage. The service targets working people who use mobile money but cannot afford traditional insurance. Many families struggle with expensive paperwork and long waits at insurance offices. The mobile system cuts out middlemen and makes everything faster for busy customers. Family members can manage their policies through their phones without visiting any offices. The company gives back ten percent of payments after customers keep their coverage for one full year. Jemima Kariuki from MTN says the service brings peace of mind to ordinary Ugandans. The partnership aims to expand insurance access across the country through familiar mobile technology. [/QUOTE]

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