Telkom has announced a partnership with Old Mutual which will see its prepaid customers receive “loyalty funeral cover” when they recharge.
Telkom customers on the Sim-Sonke and Telkom More prepaid plans will qualify for R10,000 funeral cover when they recharge with R100 or more.
This will be at no additional cost, and will require customers to opt-in and nominate a beneficiary.
The funeral cover will be for one month, starting at the beginning of the month following the recharge, lasting until the end of that month.
Customer will be eligible for the cover for as long as they maintain a monthly airtime spend of R100.
In the event that customers fall short of the R100 airtime spend for a particular calendar month, they will not be eligible for the funeral cover during the following month.
Once the required spend is met again, cover will be reinstated for the subsequent calendar month.
According to Telkom, Old Mutual has developed a micro-insurance voucher system that underpins the service.
Customers can opt-in, nominate aand track their loyalty funeral cover – and even submit a death claim – using the Old Mutual App or USSD.
While the service is currently only focused on funeral cover, Telkom CEO Sipho Maseko has indicated that Telkom and Old Mutual will consider more diverse options in the future.