Vodacom's Funeral Cover to benefit loyal m-pesa customers
JOHANNESBURG, 04 July 2012 - Vodacom has unveiled its latest insurance product which will see loyal m-pesa customers receive up to R10 000 worth of funeral cover. Vodacom Funeral Cover, which will be available from 04 July 2012, is one of the insurance products that Vodacom plans to offer as part of its broader financial services strategy.
There will be no additional monthly premiums for funeral cover - Vodacom will simply calculate the amount of airtime purchased using m-pesa over a four month period and customers using m-pesa will qualify for a minimum of R1000 worth of funeral cover. Customers who have been using m-pesa for more than six months must have spent R100 over the preceding four month period to qualify for R1000 cover.
"Most people want funeral cover so their families are not caught financially unprepared when they are most in need, that's why we thought there's no better way to give our customers peace of mind than to provide funeral cover at no additional cost. All they have to do is purchase airtime using m-pesa. In the near future, customers will be able to purchase other products and services such as prepaid electricity," says Mark Taylor, Managing Executive Financial Services at Vodacom.
Taylor added - "This benefit is a first of its kind in the South African telecommunications industry. We are pleased that we're able to support our customers' families during their time of need."
A registered m-pesa customer can purchase airtime by dialing *130*7372# and follow the prompts; the airtime purchase transaction is free. Vodacom will then simply track monthly usage and the customer will receive a message on the first day of each month with an update on the status of their cover. To claim, customers should dial 082 1082 and funds will be paid into a nominated beneficiary's m-pesa account within 48 hours of claiming. Customers will be able to withdraw these funds at over 4 000 m-pesa outlets which include Vodacom outlets and Nedbank branches and ATMs - transaction fees apply.
"We've hired a dedicated insurance team to ensure that we offer our customers a seamless experience. There will be no cold calling and our customers will call a dedicated call centre for their insurance claims. We're geared to provide a swift claims process and our customers can look forward to an unmatched service experience," Taylor concluded.
Customers can currently register for Vodacom m-pesa at over 4 000 outlets that include Vodacom outlets, Nedbank branches and informal outlets. Customers should bring a green bar-coded ID book to register. Later this year customers will also be able to self register for m-pesa using their cellphones.
For more information on the Vodacom funeral cover and m-pesa, customers can call 082 1082 free from a Vodacom cellphone or visit the website at www.vodacom.co.za/personal/services/m-pesa/aboutm-pesa
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