Etisalat Nigeria and FBN Insurance Limited have announced the launch of ‘Sure4Life” that brings insurance products to Nigerians via their mobile phone airtime.
According to Etisalat, its subscribers will enjoy free life cover for one month between May and July 2014.
The mobile phone company said that the plan is optional and open to all registered Etisalat subscribers that are between the ages of 18 and 80.
With a monthly insurance premium of N100 monthly, registered Etisalat subscribers will get N100,000 payable to the beneficiary in case of demise of the policy holder and a maximum of N10,000 for medical expenses in the event of an accident. Death benefit per anyone life is limited to N200,000 (maximum of two Etisalat registered numbers), as the medical expenses benefit per any one life is limited to N20,000 (maximum of two Etisalat registered numbers), according to the mobile operator.
“Sure4Life is an innovative insurance product which takes away all the challenges that may be associated with taking an insurance policy and allows our subscribers to access and maintain insurance coverage with ease. It is in line with our reputation as the most innovative telecommunications company to provide such life changing products to our customers”, Lucas Dada, Director, Business Segment at Etisalat Nigeria saying the partnership will provide easy access to insurance coverage for its subscribers.
Val Ojumah, Managing Director and Chief Executive Officer of the underwriting firm noted that the initiative will help correct the notion that insurance is only meant for the rich.
According to him, “we are proud of our increasing contributions to the growth and development of the insurance industry in Nigeria and assure all stakeholders of our continuous efforts to bring the latest innovations in the business for the benefit of the Nigerian populace. We believe in the strength and sustainability of the telecommunications approach to the insurance business and our ambitions are focused on working together to further enhance the growth and improvements over the coming years.”