MTN Mobile Money subscribers in Ghana will now have the opportunity to add insurance cover to all their funds sent through Mobile Money to their loved ones, thanks to MTN Ghana’s partnership with aYo and Metropolitan Life Insurance.
What this means is that when an MTN MoMo subscriber sends money to a loved one using the aYo Send with Care cover, and should the customer be hospitalized for a night or more or due to an accident or in the unfortunate event of passing away, aYo will triple that amount the subscriber sent to his or her beneficiaries over the last four months and pay it out in either one lump sum or in 12 monthly installments, depending on the subscriber cover level.
The product which is the first of its kind on the Ghanaian mobile money market can be accessed by dialing *170# and it also offers customers the opportunity to earn bonus anytime they engage with aYo “Send with Care” with MyBonus account which is 10% of the premium charged on SwC transaction.
Speaking during the official launch of the innovative micro-insurance product, dubbed Send with Care in Accra, the General Manager for MTN Mobile Financial Services, Eli Hini, noted that the partnership with aYo further consolidates MTN Ghana’s financial inclusion proposition on the market an d further confirms the company’s commitment to roll out innovative products and services that fall in line with MTN vision statement, which is the leading of a bold digital world to its customers.
According to Mr. Hini, insurance provides help, security, safety and protection in times of need and aYo “Send with Care” will provide the needed comfort you need in times of distress.
In his remarks, the Chief Executive Officer at aYo Holdings, Imran Mahomed, said leveraging on the capabilities that MTN and MMI Holdings provides and their presence in the country, aYo will offer relevant, accessible and easy to use digital insurance solutions and in the process will help increase financial inclusion in Ghana.
“Today we introduce the first of our solutions in Ghana a revolutionary new product that is the first of it kind in the country. Its aims to give customers peace of mind, if you “Send with Care” you protect those payments so that MTN together with aYo can continue to fulfill your commitment for up to a year,” he stated.