MTN Uganda has teamed up with AON and Jubilee Insurance to launch the new life insurance policy, MTN LifeCare, an addition to MTN’s Mobile Money services.

The new policy enables a registered MTN Mobile Money customer to get a life insurance coverage, which upon their death will offer a lump sum payment to the beneficiary.

It offers three insurance cover options – Silver Life, Gold Life and Platinum Life – each with unique pay-out values upon death of the insured.

MTN chief marketing officer Ernst Fonternel said MTN LifeCare customers is entitled to choose one beneficiary per package and is also free to change the beneficiary at any time during the cover period.

"However, one can only take out one insurance policy per year. For one to qualify as a beneficiary they must be an MTN customer. Non-registered MTN Mobile Money customers can also register for ‘MTN LifeCare’, and their loved ones can pay on their behalf via Mobile Money," Fonternel added.

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