Wednesday, May 23, 2007

Life Insurance by SMS

Company is South Africa is offering life insurance by SMS. Service is called Cover2go.

The service costs around R10 (approx $1), which is deducted from the phone's airtime and provides instant life insurance for six days, paying out R60,000 (approx $6,300) in the case of accidental death.

"Common perception is that life assurance is a luxury that's unaffordable and complicated to obtain. With Cover2go, people can get basic cover instantly, at very affordable prices, when they need it most," says Derek Pead, CEO of Cover2go, a division of Metropolitan Life.

I cannot imagine that service as such will not be available in the US in a near future! Klem



2 comments:

Anonymous said...

Thanks for writing this.

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