Econet offers subscribers free life insurance

Zimbabwe’s leading cellular network Econet Wireless is now offering life insurance cover to its over 4.5 million subscribers – a first for the southern African nation.

Econet Wireless Chief Executive Officer, Douglas Mboweni, said the launch of the product, called EcoLife, was part of initiatives to provide life insurance to those unable to get a policy due to high costs.
Zimbabwe faces depressed wages as the economy struggles to recover from a decade-long crisis. Most civil servants earn less than US$200 per month.

Mboweni said the product was developed in partnership with Trustco Mobile, a division of the Johannesburg Stock Exchange (JSE)-listed Trustco Group Holdings, which is a Namibian-based financial services company.

He said EcoLife would be sold for US$3 (about R21) per month as an airtime package which would ensure free life cover.

“This means that the more airtime one buys, the more cover they get, up to a maximum payout of US$10 000,” said Mboweni.

He said the scheme was not only free, but was also extremely simple to access for the user.

“A person does not have to visit FML offices to subscribe to EcoLife. Everything can be done via SMS,” said Mboweni.

Mboweni said the insurance product is one of many services Econet Wireless is developing to create convenience for its customers and help make life easier for Zimbabweans.

MERCY MUJURU in Harare, Zimbabwe

4 COMMENTS

  1. Here’s a mobile carrier that hasn’t a clue as to what it’s in telecoms for. Zimbabwe desperately needs reliable fast broadband internet connectivity, and there’s a large untapped market for the service. Econet currently offers data services on an EDGE network. It’s the most pathetic internet service on the face of the planet. It is so slow it makes dialup appear like broadband. In response to real market needs what does Econet do? Offer life insurance! Hello!!!

  2. You cannot stop them from providing other services in as much as other products are not functioning to your expectation. My suggestion would be, if you feel they have failed and there is a market, why dont you start providing the service yourself and smile your way to the bank. Its not like i support Econet but please dont just complain if you dont have a solution.

  3. I think you are right in responding to the first comment. People must not think they will never die. Wise people will plan for their deaths. The fact is that whether you have edge or broadband you die. Moreover you should keep posted on Econet developments. Such services are just around the corner. My advise is for you not to be more digital than you are human. What have you done for anyone yourself? Start doing something now through Ecolife for you and those you love.

  4. If you want perfect connectivity, just go to Ecoweb and get 4G. It works perfect and is superfast. Gr8 product from EWZ

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