TNM Moyo CoverBLANTYRE (Malawi NewsNow) –TNM says it has paid over K58.5 million worth of Life insurance claims under its Moyo Cover insurance available to customers registered on its mobile money-transfer service, Mpamba.

TNM Products Manager Asante Chitimba confirmed in an interview that the amount has been paid to 259 people since September 2013 when the service was launched.

“Since we launched the service I am happy to report that the service has been very successful in achieving the set purpose of assisting customers to access life Insurance cover which they use to offset various expenses and in some cases investing for surviving family members,” said Chitimba.

“We would like to reaffirm our commitment to our subscribers that TNM will always keep its promise. We will promptly settle all claims within 72 hours from day of claim,” he said.

“What is important is that customers must submit all necessary documentation for processing immediately and bring with them proof of identity and the requisite proof of death documents through our Moyo Cover administration office. We will always be with our customers in times of sorrow. Wherever our customers are and no matter their circumstances, TNM will always be with them,” he said.

One of the latest beneficiaries, Blessings Kambombo, from Bvumbwe in Thyolo thanked TNM for paying him a claim of K500, 000 following the loss of his sister in November last year

“TNM settled the claim as soon as I had presented it with all the necessary documents. I had heard about Moyo cover and still didn’t believe that customers could benefit until I was paid my claim. The people at TNM were very helpful. I have used the money to open a bank account for my late sisters’ daughter who is currently in Form 3,” said Kambombo.

He encouraged TNM customers to ensure that they are registered for Mpamba to benefit from Moyo cover which accumulates premiums every time the phone is recharged.

“At first I doubted to report that is why it took me sometime to present my claim but now I’m a leaving testimony of Moyo Cover,” Kambombo said.

TNM Moyo cover is a tripartite life insurance scheme being administered through Nico Life Insurance and MicroEnsure.

Premiums are paid by TNM on behalf of all registered TNM users who recharge or use a minimum of K1,000 airtime per month. Usage of airtime in the current month provides life insurance cover for the following month.