Airtel has launched a free health cover Insurance in partnership with Pan Africa Life Assurance and MicroEnsure. The service is in a quest to make insurance available and accessible to a vast portion of the uninsured population in Kenya.
The product tagged Airtel Insurance will offer Airtel customers in Kenya life, accident and hospitalization insurance with increasing benefits based on their monthly airtime usage. Airtel insurance will cover all hospitalization for any medical reason with no exclusions, making it the most user friendly hospital insurance cover in Kenya. Its availability on the Airtel mobile platform makes it the most widely accessible free insurance cover in the country. Also, the product will highly benefit users whose hospitalization period is up to three or more nights at a hospital.
Subscribers will register by dialing *336# from their mobile phones where Airtel will reward loyal customers with a free renewable monthly life, accident and hospitalization cover based on the amount of monthly airtime used. Airtel Customers will qualify for this insurance by using as low as Sh.250 airtime each month, with the opportunity to gain incremental insurance benefits with increased monthly airtime usage. The product is truly free; no airtime will be deducted from a customer’s balance for the insurance cover making the product work like a loyalty reward from Airtel.
Other convenient packages
Airtel Insurance becomes active on the first day of the month following registration, and is based on the amount of airtime recharged in the previous month, with a minimum monthly usage of Sh.250.
Customers also have a variety of packages to choose from. For a monthly usage of Sh.250, Airtel insurance gives the customer Sh.1,000 hospitalization and Sh.10,000 life and accident insurance while Sh.500 usage will earn customers Sh.2,000 hospitalization and Sh.25,000 life and accident insurance.
A Sh.1, 000 usage will attract Sh.5,000 hospitalization and Sh.100,000 life and accident insurance. Finally, a Sh.2,500 usage or above will attract Sh.10, 000 hospitalization and Sh.250,000 life and accident insurance.
Currently, insurance penetration stands at a low of just above 3%, in the Kenyan population. ‘’Statistics show that over 70% of the Kenyan adult population own a mobile phone. The eminent gap, together with the need to provide life insurance which is a fundamental financial need to a fast growing economy like ours is what motivated the three parties launch the product as a solution to market.
Pan Africa Life is at the forefront of innovation in life assurance in the market. The new product offers several levels for a bouquet of accident, medical and last expense covers with corresponding airtime recharge rates to suit the pockets of our diverse clientele, making it affordable and quite flexible for all.