Leading mobile microinsurance provider, aYo Intermediaries Ghana has introduced a new feature on its Recharge with Care (RwC) policy, which allows customers to make a one-time premium payment for a full annual cover.
This comes after five years of standing tall in the microinsurance space and impacting thousands of lives with their Recharge with Care and Send with Care insurance products, both of which provide life and hospital covers.
The new feature allows customers to pay ¢130 for a full year’s cover. Hitherto, customers only paid a monthly premium of ¢6 whenever they recharge MTN airtime and are provided with monthly life and hospital cover.
According to the company, the introduction of the new feature was based on feedback from customers.
Chief Executive Officer of aYo Ghana, Francis Gota said “This feature aims at addressing the situation in which customers have lost out on claims due to premium payment issues. It will also eliminate complaints about frequent airtime deductions and why their benefits keep changing”.
He noted that when a customer purchases the Recharge with Care Annual Insurance Policy, the benefits available to them include a static Life Cover Benefit of ¢6,000 for the Policyholder, a static Life Cover Benefit for one Family Member, ¢120 per night for Hospitalization Cover for the Policyholder and a 10% No Claim Cashback bonus.
The 10% Cashback Bonus means that if the policyholder does not make any claims during the cover period, he or she will receive 10% of the premium paid, which is ¢13.
The annual cover feature also allows existing customers who are on either life or hospital cover to get both life and hospital once they pay the one-time annual premium of ¢130.
According to Francis Gota, customers can sign up by dialling *928*101#, then follow the prompts and make instant payments, or aYo’s Call Centre agents would contact the customer via 0244300000 to assist with the sign-up process.
“Once payment is made, the customer will receive an SMS confirming their payment, the benefit amount, start date, and cover expiry date, and the customer’s benefits are calibrated on the portal for visibility.
“A 30-day waiting period applies to the policy. During the waiting period, only accidental hospitalization and death claims are admissible,” the CEO explained.
The Annual cover feature, the CEO said, is available to existing aYo customers who are already on both Life and Hospital covers on RwC and want the additional policy, as well as non-aYo customers who are MTN subscribers.
aYo Intermediaries recently celebrated its fifth anniversary in Ghana, during this period it has served over 7.9 million customers and counting, and has paid out about GHS10.56 million in claims to over 32,524 policy holders and beneficiaries.
The company recently picked up two top awards at the Ghana Insurance Association Awards 2022, stamping its authority on the country’s microinsurance space. The two laurels were the Mobile Insurance Leadership Award and the Best Growing Intermediary Firm of the Year.
- How to check 2022 WASSCE provisional results
- Capital bank case: Court rejects terms of settlement between state and Ato Essien
- WAEC releases provisional results for 2022 WASSCE; 8,486 candidates in trouble
- Nima celebrates Mohammed Kudus with a mural
- Ashanti Regional NSS Director suspended for verbally abusing a nurse
- How a girl died because of a Christmas ‘sugar daddy’
- Man and mistress involved in accident while chasing wife and her lover
- Honour roadmap for Ofori-Atta’s sacking – Disgruntled NPP MPs tell Akufo-Addo
- Boxing referee admits he cheated for Manny Pacquiao during win in 2000
- It’s not my fault Asamoah Gyan missed the penalty in 2010 – Luis Suarez
- TaTU, Jowato.com signs MoU to practically train students in research
- NHIS Mion district office inaugurated
- EVIBES USA series: Fritz Oakley talks about life in US, music and concert
- WAEC should prevent exam malpractice instead of punishing culprits – Kofi Asare
- Livestream: Impact of 2023 budget on businesses
- Martin Kpebu commends Judge for rejecting Ato Essien’s settlement with state
- Knowing your HIV status is the best way to prevent it – Ghana AIDS Commission
- Love not the prerequisite for successful marriage – Relationship Advisor
- Yaa-Naa declared NHIS Ambassador
- Edwin Kwasi Amenuvor (Rtd. Librarian)
- Commitment in relationships require time and effort – Experts
- Court of appeal upholds BOG’s appointment of Nii Amanor Dodoo as receiver for Unibank
- WAEC orders over 8,000 ‘indebted’ students to pick WASSCE results from their schools
- Release 52 citizens arrested for alleged roles in secessionist attacks in Volta Region
- Swiss government hopeful of future collaboration with FORIG to combat climate change