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.
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