MTN Now Offers Funeral Insurance via WhatsApp

South Africa’s telecommunications giant MTN  has announced its new offering on Thursday. MTN said they will now offer a “budget-friendly” funeral cover to South African consumers under its new Khava brand, via the communication App, WhatsApp.

“Under its new Khava brand, MTN’s prepaid funeral insurance is the first of a range of insurance products designed for the local market, it said. MyMTN Prepaid Funeral Khava will cost from R75/year, the telecommunications operator said.

MTN insurance scheme will be backed by Sanlam, and facilitated by aYo Intermediaries South Africa. Collections and claims payments are managed via MTN’s Mobile Money (MoMo) platform.

“From as little as R75 and no other fees, MoMo customers can secure coverage for either six or 12 months via a one-time premium payment, with benefits extending up to R20 000 under the MyLife Khava plan for individuals, and a collective sum of R33 750 for the MyFamily Khava plan, which extends coverage to family members,” MTN said in a statement.