Customers hail TNM Moyo Cover Plus: Pays K115mil in claims

Premier mobile and ICT service provider TNM customers have hailed the company for the free life insurance cover it provides under Moyo cover product.

Makata: Pay up to K115million
Makata: Pay up to K115million

In September, 2013 TNM launched the Moyo Cover to customers registered on its mobile money-transfer service, Mpamba that offers life insurance.

Speaking in random interviews to some of the beneficiaries, they overwhelmingly say the service eases the burden that comes during and after bereavement.

“At first I head it on the radio one beneficiary giving testimonies how this service is beneficial and that prompted me to register and after that my mother who was my beneficiary died and I was assisted accordingly,” said a Blantyre based business man Steve Kapandansalu.

Steve said the assistance he got from TNM removed the burden and hassles that could have come during funeral ceremony.

“Thanks to TNM I managed to bury my late mother in a dignified manner because I used the money I had, hoping that TNM will give me back. I would like to encourage Malawians to subscribe to this product because TNM is generously covering us based on the airtime we use,” said Kapandansalu.

Kapandansalu however called on TNM to intensify awareness on the product so that more subscribers get registered.

Another beneficiary Margret Mulauzi who claimed following the death of her child said she was grateful to TNM for introducing the product.

“This is a great service that no other company is providing. We were assisted without difficulties unlike other insurance services being offered by other companies and it really helped the family ,” said Mulauzi.

Meanwhile TNM says it has paid over K115 million worth of Life insurance claims under its Moyo Cover Plus Insurance available to customers registered on its mobile money-transfer service, Mpamba.

TNM’s Chief Commercial Officer Daniel Makata confirmed in an interview that the total of K115 million has been paid to 500 people since September 2013 when the service was launched.

“Since we launched the service I am happy to report that the service has been very successful in achieving the set purpose of assisting customers to access life Insurance cover which they use to offset various expenses and in some cases investing for surviving family members,” said Makata.

While hitherto TNM Moyo Cover was limited to life insurance, recent additions to the product now brings more value to TNM subscribers as it also entitles individuals to accidental permanent disability and hospitalization insurance cover.

“We take the welfare of our customers as a priority therefore we have decided to widen the spectrum of TNM Moyo Cover by adding two other services to ensure that our customers have access to affordable, timely and quality life and health insurance facilities,” said Makata.

Makata said the company was very satisfied with the testimonials from people on how beneficial it is to be on Moyo Cover Plus.

“We would like to reaffirm our commitment to our subscribers that TNM will always keep its promise. We will promptly settle all claims within 72 hours from day of claim. What is important is that customers must submit all necessary documentation for processing immediately and bring with them proof of identity and the requisite proof of death documents through our Moyo Cover administration office, we will always be with our customers in times of sorrow,” he said.

TNM Moyo cover is a tripartite life insurance scheme being administered through Nico Life Insurance and MicroEnsure.

Premiums are paid by TNM on behalf of all registered TNM users who recharge or use a minimum of K1,000 airtime per month. Usage of airtime in the current month provides life insurance cover for the following month.

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