Mobinsure is a mobile saving scheme for Mobile Money customers. This product is in partnership with Enterprise Life.

It allows MoMo customers to save funds in their Mobinsure wallet and enjoy life and hospitalization covers.

It is a self-service product and can be accessed by subscribers on the *170# USSD short code.

Benefits of Mobinsure

* Customers would earn 9% per annum of the total returns on their Mobinsure wallet

* The life cover and hospitalization benefits can only be assessed when the insured event occurs.

* Nominated lives enjoy half the life cover of the subscriber

* Customers will have access to their savings account balance (statement) at any time via USSD.

* Customers can view their last 6 months savings statement

Features of Mobinsure

A minimum contribution of GHc10 is required to enjoy life and hospitalization covers

There is a 3 months waiting period. However, accidental deaths would be paid within the waiting period

Cover starts on the 1st day of the 4th month and terminates on the last day of the calendar month

During Mobinsure registration, a subscriber selects his/her Mobinsure Pin (it is different from your MoMo Pin)

Some Definitions

Life / Death: The permanent cessation of all lives assured i.e. subscriber and nominated family member (where applicable).

Hospitalization: Hospitalization shall mean admission to a recognized inpatient treatment facility whereby the insured member stays overnight at the facility for 3 or more nights and is treated while in residence there by some medical personnel.Policy does not cover subscriber’s hospital bills and medicine purchased during hospitalization .Recognized inpatient treatment facility shall mean a facility that is either: as an approved private or public inpatient treatment facility by the Ghana Health Service or by a facility approved by Enterprise claims officer through an audit process

Eligibility : Customers between the ages of 18 – 74. Nominated lives between the ages of 1 – 74

Death Hospitalization Savings

Subscriber Yes Yes Yes

Nominated Lives (2) Yes No No

Option for Change

Maximum of 3 changes is allowed for a nominated life. Changes are allowed only after 12 months of registration, except for replacement of a deceased nominated life

Any changes would be effective from the first of the month following the month in which the amendment request was made

A three (3) month waiting period would be applied on the added life

Termination of Cover

A subscriber’s cover would automatically cease when a subscriber fully withdraws from his Mobinsure wallet. To reinstate a cover, the subscriber would require a three-month waiting period

the subscriber would require a three-month waiting period

A subscriber can nominate 2 lives such as; Spouse,Parents,In-laws (Parent),Child, Foster Parent, Siblings

Saving Bands

Savings Bands

10 – 20

21 – 30

31 – 40

41 – 50

51 – 100

101 – 150

151 – 200

201 – 300

301 – 500

500 +

Cover Levels

Total Amount Saved

10 – 20

21 – 30

31 – 40

41 – 50

51 – 100

101 – 150

151 – 200

201 – 300

301 – 500

500 +

Contribution Plan

Subscribers have the flexibility to select the following options below to make a contribution

1. Daily savings and amount

2. Weekly savings and amount

3. Monthly savings and amount

Once an option is selected, the amount indicated would be transferred from subscriber’s MoMo account unto their Mobinsure account.

1. Claims

2. Death

In the event of death of the subscriber, the full value of the investment contribution is paid out together with the life cover applicable for the current month.

Cover ceases automatically for all lives when the subscriber dies.

Death Claim Requirements

A subscriber has to provide any one of the following:

Medical certificate of cause of death

Death certificate

Letter from a recognized body or institution

Mortuary receipt/obituary. /Coroner’s report

Any other document to verify the validity of the claim

Hospitalization

In the event of hospitalization, a lump sum benefit for each day spent in the hospital is paid to the subscriber up to a maximum of ten days.

Benefits starts accruing after a minimum in patient stay of three days. If hospital stay is less than three days no benefit is payable.

Hospitalization Claim Requirements

A subscriber must provide any one of the following:

Doctors Report

Patients Bill – this would show patients date of admission and discharged.

Claimants excuse duty from the health facility

Any other document to verify the validity of the claim

Terms and Conditions

1. In the event that the subscriber enjoys multiples of cover as a result of multiple Mobile Money registration,

cover not exceeding a maximum of (GH¢ 5,000.00) under life cover and maximum of (GH¢ 250.00) under hospitalization would be paid to the subscriber.

2. The same rules apply to cover for nominated lives.

3. Savings benefits accrued or claims payable according to this policy cannot be assigned to a third party.

4. General exclusions are applied on this policy (Drugs, alcohol, criminal activities) claims as a result of any of these would not be paid.

5. Minimum savings (contribution) per month is Gh¢ 10.00

6. No cover would be granted if the subscriber did not make the minimum contribution.

7. There is a three (3) months waiting period on the scheme after registration. However, accidental death benefit would be paid in case of an accidental death within the waiting period.

8. All insurance covers, starts on the first day of the fourth month after registration and terminates on the last day of the calendar month.

9. The sum assured due the covered lives would be dependent on the average contribution made over the first three months.

10. Sum assured after fourth month would be determined by total amount saved as at the end of each month.

How to Mobinsure on the subscriber menu

To access the service, kindly follow the steps below:

Dial *170# on the subscriber menu

Select option 5 “Financial Services”

Select option 5 “Insurance”

Select option 2 “Mobinsure”

To Register a Mobinsure Account

Select option 1 “Register”

Enter full name First Nominee

Enter nominee’s Date of Birth in this format (dd/mm/yyyy)

Enter full name of Second Nominee (optional)

Enter nominee’s Date of Birth (dd/mm/yyyy)

Select a Savings Package (i.e Daily, weekly or monthly)

Enter contribution Amount

Proceed to view T&Cs.

Confirm Terms and Conditions

Subscriber will receive a welcome SMS notification

Dial *170# on the subscriber menu

Select option 5 “Financial Services”

Select option 5 “Insurance”

Select option 2 “Mobinsure”

Set Mobinsure Pin (4 digits)

Confirm Pin

Subscriber will receive a welcome SMS notification

Check Account Status

Select option 2 'Account status’

Select option 1 "Total Savings”

Enter Mobinsure Pin

Select option 2 “Total Interest”

Enter Mobinsure Pin

Select option 3 “Total Investment”

Enter Mobinsure Pin

The amounts will be displayed in a flash notification

To Update

Ad hoc contribution

Select option 1 'Update account'

Select option 1 ‘Ad hoc contribution’

Enter Amount

Enter your MoMo Pin

Subscriber will receive a successful notification on the update

Change contribution

Select option 1 'Update account'

Select option 2 'change contribution' option

Enter Amount

Authorize update with Mobinsure Pin

Subscriber will receive a successful notification on the update

Change Nominee

Select option 3 “Change nominee”

The list of nominees are displayed

Select the Nominee you want to change

Enter the Nominee’s new name

Enter Nominee's Date of Birth

Authorize change with Mobinsure Pin

Subscriber will receive a successful notification that reads “You have successfully changed your nominee. This will be effected in a month’s time”

Remove Auto-debit

Select “Remove Standing Order”

Select option 1 “Confirm Removal”

Subscriber will receive a successful notification

Pin Management

Select “Change Pin”

Enter “Old Pin”

Enter “New Pin”

Subscriber will receive a successful notification

To Withdraw Savings

Select option 4 'Withdraw savings'

Select option 1 “Partial” (For a partial reversal)

Select option 2 “Full” (For a full reversal)

Enter “Amount”

Confirm withdrawal

Authorize withdrawal with your Mobisure Pin

Subscriber will receive a successful notification

To Make a Claim

Select option 5 “Make Claims”

Select option 1 “Notify Claim”

Select the type of claim, option 1 “Hospitalization”

Select option 2 “Death”

Select who you are making the claim for, Option 1 “Self”

Select option 2 “1st Nominee”

Select option 3 “2nd Nominee”

Subscriber would receive a notification reading “Your request has been received, you will be contacted by ELAC”

Select option 2 “Contact Us”