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Buy R100 Telkom airtime, get R10k funeral cover

An announcement today from Old Mutual and Telkom will see select Telkom Mobile customers qualify for funeral cover up to the value of R10 000.

Telkom customers on  Sim-Sonke and Telkom More will be able to opt into a service where a monthly recharge of R100 will afford them funeral cover up to R10 000 in value.

Customers who recharge with R100 in airtime, either with multiple recharges or in one recharge, will be able to opt in to the service, nominate a beneficiary and enjoy funeral cover for the entirety of the next calendar month.

The offer is a South African first according to Telkom Chief executive officer Sipho Maseko, who also said “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”.

The service will operate on a micro-insurance voucher system developed by Old Mutual. Eligible customers will be need to opt in to the service and the funeral cover will only be active as long as customers purchase airtime to the value of R100 or more every month.

Should this minimum spend not be met, cover will be suspended for a calendar month. The service will be reinstated for the following month should the airtime spend be met.

Old Mutual South Africa chief executive officer, Dave Macready said in a statement, “Giving South Africans easy access to insurance products through their mobile devices not only reduces cost, it accelerates financial inclusion, which is critical to reducing poverty and inequality which contributes to boosting our nation’s development”.

The offering is currently available to Telkom customers on the Sim-Sonke and Telkom More offerings.

[Source – Telkom]

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