Telkom, Old Mutual collaborate on funeral cover

Telkom
Telkom
Duncan Alfreds

Johannesburg - Telkom has inked a partnership agreement with insurance giant Old Mutual to provide prepaid customers with funeral cover.

Telkom on Tuesday announced that customers on its ‘Sim-Sonke’ and ‘More’ prepaid plans for will qualify for R10 000 funeral cover by recharging with R100 or more in one calendar month.

Qualifying customers have to opt-in for the funeral cover and they will be eligible for as long as they maintain a monthly airtime spend of R100, according to Telkom.

Customers who fall short of the R100 airtime spend for a particular calendar month will not be eligible for the funeral cover during the following month, added the the company.  

“Once the required spend is met again, cover will be reinstated for the subsequent calendar month,” said Telkom.

The offering is further planned to tap Old Mutual’s micro-insurance voucher system which enables customers to “opt-in, nominate and manage a beneficiary, track their loyalty funeral cover and even submit a death claim using the Old Mutual App or USSD”, said Telkom.

“This innovative offer is a South African first,”  said Telkom chief executive officer Sipho Maseko in a statement.

“While competitors may offer paid premium insurance to their customers, Telkom will be rewarding customers for their airtime spend with funeral cover at no additional cost from one of the leading insurers in the country, Old Mutual,” explained Maseko.

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