BizLife Insurance Service
MTN Biz Life is an affordable airtime-based life insurance service from the suite of MTN Y’ello Cover, a portfolio of insurance services brought to you by MTN. It is a simple and convenient way MTN subscribers can access an affordable life protection plan directly from their mobile phones.
With a minimum spend of N200 per week on airtime, subscribers enjoy a FREE N100,000 life insurance cover valid for one week. This cover is applicable in the case of accidents resulting in permanent disability or demise. MTN BizLife is offered in collaboration with Mansard Insurance plc.
Why MTN Biz Life
Insurance is sometimes perceived to be complicated, involving a lot of paperwork and expensive. As such a large portion of the population has gone uninsured. MTN Biz Life is a service that addresses this situation.
Firstly, the insurance cover can be accessed in just a few minutes meaning no long paperwork.
Secondly, it costs nothing. All you need to do is spend a minimum of N200 per week of your airtime, which qualifies you for a FREE cover valid for one week
Thirdly, it is a pay-as-you-go service meaning you enjoy the convenience of making your normal calls and getting extra for it
What does my MTN Biz Life policy entail?
The MTN Biz Life policy provides benefit in the form of an agreed cash payment to a named beneficiary of a deceased subscriber, or to a subscriber in the case of permanent disablement as a result of the accident.
What do I do to enjoy the service?
To enjoy the service, simply SMS ‘bizlife’ to 131 or dial *460*6# and follow the prompt. Then spend a minimum of N200 every week to enjoy FREE 7-day insurance cover valued at N100,000 (or spend N300 on calls/SMS a weekend get N150, 000.00 insurance cover against accident)
For how long do I pay my premium and how frequent?
No Premiums are payable and no deductions are made from the subscriber’s airtime. To enjoy this service every week, all you need to do is make a minimum spend of N200 of your airtime per week
For how long does my policy grant me to cover?
The policy grants cover for 7 days as long as a weekly minimum spend of N200 is made, however, the policy ceases once death or total permanent disability claim is paid.
What happens in case of my demise?
The sum assured becomes payable to your named beneficiary(s)
With a minimum spend of N200 per week on airtime, subscribers enjoy a FREE N100,000 life insurance cover valid for one week. This cover is applicable in the case of accidents resulting in permanent disability or demise. MTN BizLife is offered in collaboration with Mansard Insurance plc.
Why MTN Biz Life
Insurance is sometimes perceived to be complicated, involving a lot of paperwork and expensive. As such a large portion of the population has gone uninsured. MTN Biz Life is a service that addresses this situation.
Firstly, the insurance cover can be accessed in just a few minutes meaning no long paperwork.
Secondly, it costs nothing. All you need to do is spend a minimum of N200 per week of your airtime, which qualifies you for a FREE cover valid for one week
Thirdly, it is a pay-as-you-go service meaning you enjoy the convenience of making your normal calls and getting extra for it
What does my MTN Biz Life policy entail?
The MTN Biz Life policy provides benefit in the form of an agreed cash payment to a named beneficiary of a deceased subscriber, or to a subscriber in the case of permanent disablement as a result of the accident.
What do I do to enjoy the service?
To enjoy the service, simply SMS ‘bizlife’ to 131 or dial *460*6# and follow the prompt. Then spend a minimum of N200 every week to enjoy FREE 7-day insurance cover valued at N100,000 (or spend N300 on calls/SMS a weekend get N150, 000.00 insurance cover against accident)
For how long do I pay my premium and how frequent?
No Premiums are payable and no deductions are made from the subscriber’s airtime. To enjoy this service every week, all you need to do is make a minimum spend of N200 of your airtime per week
For how long does my policy grant me to cover?
The policy grants cover for 7 days as long as a weekly minimum spend of N200 is made, however, the policy ceases once death or total permanent disability claim is paid.
What happens in case of my demise?
The sum assured becomes payable to your named beneficiary(s)
What happens if I do not make a minimum spend of N200 before the end of the policy term?
If a minimum of N200 is not spent during a valid week of being insured, the policy shall lapse without value and the life assurance benefit under the policy shall cease to be payable.
If I spend more than N200 during the policy term, do I get multiple 7-day FREE covers?
No. If the customer spends over N200 during the policy term, the customer shall be entitled to only one 7-day Life Insurance the following week. For example, if a customer spends N1,000 while enjoying the Biz Life Insurance cover, the customer shall only be eligible for another week of Biz Life cover NOT 5 weeks
What are the minimum and maximum age at entry?
Between 18 – 60 years of age.
What is the minimum sum assured?
The minimum sum assured is N100,000.00
Can customer operate both MTN Y’ello Life and MTN Biz Life at the same time?
Yes.
While operating both MTN Y’ello Life and MTN Biz Life at the same time, what is the maximum sum assured in the event of an incident?
The customer will be paid a maximum of N450,000 = N100,000 (Biz Life) plus N350,000 (Y’ello Life)
While operating both MTN Y’ello Life and MTN Biz Life at the same time, what will qualify the user to receive the maximum sum assured in the event of an incident?
The customer will be paid as long as he;
- Paid the MTN Y’ello Life premium
- Was currently enjoying a FREE one week Biz Life cover
Will I be required to undergo a medical examination?
No.
When does the cover start?
Cover begins immediately the first minimum of N200 is spent. However, there is no cover for demise/total permanent disability resulting from natural causes during the first 30 days of subscription.
When is the sum assured, payable?
The sum assured is payable in the case of:
- Demise
- Permanent Disability
- Accidental Medical Allowance (10% of the sum assured, payable once a year)
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