Life cover by cellphone

Isaac Moledi

Isaac Moledi

There is a life insurance company that will cover you for six days and will pay your loved ones R60000 if you die in an accident.

Cover2go was launched by Metropolitan Life.

Derek Pead, chief executive of Cover2go, a division of Metropolitan Life, says many South Africans use public transport that is not safe over the long weekends without any life insurance.

For R10, which must come off your phone's airtime, the company will give you instant cover.

The innovation uses cellphone technology from Clickatell, the premier global mobile messaging operator.

The main target is people from lower income groups in under-serviced areas.

You can buy the policy by sending your name and identity number to a premium-rate short code (38858). The system replies with a confirmation and policy number, requests the name of a beneficiary and reminds you to tell someone about the cover.

Once the policy expires a notification is sent asking if you want to renew it.