MeBanbo Life Insurance

MeBanbo is an affordable life insurance cover for all Ghanaians. It guarantees a benefit (sum assured) to a stated beneficiary in the event of death (funeral cover) or accidental disablement of the insured.

MeBanbo Insurance will provide financial assistance to your family in the event of your death or the death of a loved one covered on the policy or theaccidental disablement of an insured.

To register for MeBanbo on your Telecel or MTN mobile number, simply dial *269# and follow the instructions thereafter. You must ensure that you have sufficient funds in your Telecel Cash or MTN MOMO wallet to cover your first premium and activate your policy.

To register for MeBanbo Insurance on your mobile number, you must have/be:

• Telecel or MTN GSM registered number
• Registered Telecel Cash and MTN Momo Subscriber
• Ghanaian Nationality
• Between the ages of 18 and 75 at the point of registration

Yes, you can register for MeBanbo Insurance in addition to any other funeral policy you may have. A cash pay-out will be done via Telecel Cash or MTN MOMO to your Beneficiary in the event of your death or the death of a loved one.

No documents are issued for this product. However, if you require a printout of your policy you can get this at any Hollard Life Assurance outlet.

The cover depends on the package you choose. There are a range of Policy Package options that are available to Customers:

MeBanbo Lite – Ghc1.00 for Ghc1,000.00

MeBanbo Basic – Ghc5.00 for Ghc5,000.00

MeBanbo Standard – Ghc15.00 for Ghc15,000.00

MeBanbo Premium – Ghc30.00 for Ghc30,000.00

MeBanbo Africa and Rest of World

Ghc15.00 for Ghc15,000.00

Ghc30.00 for Ghc30,000.00

These benefits are available to insureds covered while they are not living in Ghana (not the main insured).

Yes, you can upgrade to a higher package or downgrade to a lower package. Cover is immediate for all causes for a down grade and for accidental death only for an upgrade. If death is because of natural causeshowever, six months waiting period applies for death on an upgrade.

Yes. The MeBanbo product has a waiting period of 6 months for all packages if the cause of a funeral claim is due to natural causes.  There isno waiting period for the accidental disability benefit.

Twice. Once as a policy holder on your mobile phone and once as a dependant on another policy holder’s account (e.g., spouse, child, parent,parent-in-law, grand-parent)

It is up to you to decide whether to disclose the information.

Your Policy becomes active once your first premium has been deducted from your Telecel Cash Wallet or MTN MOMO. You have 30 days from registration to cash-in to your wallet and activate your policy. Should you exceed 30 days after registration without doing so the registration will fail and you will have to start the registration process again. Once you have registered and paid the initial premium, the system will send you an SMS confirming the policy commencement date and the next premium due date.

You must make sure you have money in your Telecel Cash wallet or MTN MOMO to cover the monthly premium. If funds are not available, your policy will lapse, and you will no longer be covered.

An automatic deduction will be done through your Telecel Cash or MTN MOMO as soon as you register and monthly, from the 11th of every month to the 10th of the following month. You can initiate payment through the MeBanbɔ menu or payment can be done by a sponsor who pays the premium on your behalf by dialling *269# and making payments from their Telecel Cash wallet or MTN MOMO.

There is no additional charge when you make payments toward your MeBanbɔ premium payment through Telecel Cash or MTN MOMO.

The claim will be declined. You will need to ensure that your premium payments are always up to date by keeping enough funds in your Telecel Cash wallet or MTN MOMO.

Unfortunately, the policy will only pay-out policy holders who are paid up at the time of death. We urge you to ensure that your policy is always paid up and will send you regularreminders before your policy expires.

For your convenience, the MeBanbo system is linked directly to the Telecel Cash or MTN MOMO system to enable you to make payment from anywhere their network operates at any time.

Registration details are sent only once. To reinstate your lapsed policy, you must deposit cash into your Telecel Cash wallet or MTN MOMO or initiate payment through the MeBanbo menu *269#. An exclusion due to death by natural causes will be applied in the event of a claim depending on the
length your policy had lapsed up to a maximum of three (3) months. A policy cannot be reinstated if premiums have been skipped for more than three (3) consecutive months.

Yes. Your policy can be transferred to your new SIM card. However, thismust be a new SIM card with the same number, not a different number.

The MeBanbɔ product is a life assurance policy which pays out/maturesupon the death of the policy holder.

A Dependant is a person whom the Insured has a legal duty to support. For purposes of these guidelines, these are the Insured’s extended family members who are:

Spouses: maximum of 2.

Biological or legally adopted children.

Biological grandchildren.

Biological parents.

Biological grandparents; and

Parents-in-law

Other Dependants (These are Dependants above the age of 23 who are not mentioned above. They must have a Telecel or MTN SIM card, registered on both Telecel Cash or MTN MOMO and MeBanbo and you sponsor them monthly)

You register a Dependant by dialling *269# and selecting option 1- “Add/Remove a dependant” and follow the instructions thereafter. You must ensure that you have all the following information at hand:

Date of Birth

ID Number or Birth Entry number for minors

First Name and Surname

Contact Number for those above the age of 23.

You then enter your Telecel Cash or MTN MOMO PIN at the end of the journey to activate your policy for premium deductions.

The person and/or entity that, the Insured, nominates to receive thebenefits of the Policy in the event of the Insured’s death.

Anyone you trust can become a beneficiary of your policy.

To add a beneficiary:

Dial *269#

Select Manage Policy

Select Manage Beneficiary

Select Add Beneficiary

Follow steps

Enter Telecel Cash or MTN MOMO Pin at the end to Confirm.

Yes, it is possible to change your beneficiary. In fact, it is very important you review your beneficiary on a regular basis because over time, your circumstances change e.g., your chosen beneficiary may have passed away. You can add or remove a beneficiary for a maximum of three (3)times within a year.

To change a beneficiary you:

Dial *269#

Select Manage Policy

Select Manage Beneficiary

Select Remove Beneficiary

Enter Telecel Cash or MTN MOMO Pin to confirm removal.

Return to menu and follow through steps on adding a beneficiary.

No, you can only leave the death benefits to an Individual.

Where no Beneficiary is specified, the benefit will be paid to your spouse. If you do not have a spouse, the benefit will be paid to a beneficiary nominated by three of your relatives after submission of IDs showing the same surname. All documents should be submitted to the nearest Telecel or MTN Retail Shop or Hollard Life Assurance outlets.

You can appoint a minor above the age of 16 with an active Telecel or MTN SIM card which is also registered on Telecel Cash or MTN MOMO as your beneficiary. However, if the beneficiary is still below the age of 18, their guardian upon proof of guardianship can claim on behalf of the minor.

The claims pay-out will be within 72 hours after submission of all completedocuments.

Your beneficiary and/or family members can visit any Telecel or MTN Retail Shop or Hollard Life Assurance outlet to make the claim.

They will need to submit the following documents for the claim to be processed:

Certified copies of the Death Certificate

Mortuary Certificate and or Receipts

Medical Certificate of the Cause of Death (If the deceased died in hospital)

Police Report (in the case of unnatural causes of death)

Deceased’s proof of identity

Beneficiary’s proof of identity

Certified Specialist Medical Practitioners Report (for Accidental Disability claims)

Where a death certificate or medical certificate of cause of death has not been submitted with the initial claim, it MUST be submitted to us within 30 (thirty) days from date of filing the claim to enable claim to be paid.

Fully completed MeBanbɔ claim form.

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No, you will not be covered if your death is because of the following:

Suicide, attempted suicide, or self-inflicted injury

War, insurrection, or civil commotion

Epidemics as defined and declared by the World Health Organisation, including pandemics.

If you die of natural causes within the waiting period

If you were resident in Ghana when you registered, and premiums are upto date, your Funeral Cover is valid regardless of where you die.