Mobile Telecommunications Limited Namibia (MTC) has launched MTC Credit Life – a credit life cover insurance product targeted at its post-paid customers.
The credit life is underwritten by Momentum Metropolitan Namibia.
“Credit Life Insurance is a policy that is designed to pay off a borrower’s outstanding debts in the event of the borrower’s death. As the loan balance is paid off over time, the credit life insurance policy’s value drops proportionately with it, until both approach zero” MTC Managing Director Dr Licky Erastus said on Thursday.
Erastus said the benefits of the MTC Credit Life Insurance offering are that “in the first instance it will provide peace of mind for family, by reducing worry and stress, ultimately the primary objective is to protect your family from being stuck with unpaid loan payments in the case of your death. This is especially critical to safeguard them, protect them, and shield them from unpaid debts.”
Explaining the rationale behind the listed telco’s move, Dr Erastus said,” MTC is continuously striving for excellence as a national asset. This requires MTC to look beyond its traditional scope as a Mobile Network Operator (MNO) and transition to a leading digital service solutions provider (DSSP) with innovation at its core.”
“Innovations should not only imply or be limited to the manufacturing capital and technology but must cut across all service points. To innovate means that ideas must be aligned to researched ideas that can contribute to a sustainable business – and we believe that this is one form of such.”
Momentum Metropolitan Namibia Group Chief Executive Officer, Sakaria Nghikembua said its partnership with MTC will provide it with an opportunity to meet the group’s objective of ensuring financial inclusion for every Namibian.
“We are particularly pleased to be able to partner with a reputable company such as MTC to deliver financial services to the broader Namibian population, and thereby achieving the twin objectives of financial inclusion and economic growth for Namibians,” Nghikembua said.
