UniBank Ghana Limited has collaborated with Airtel Money and Star Micro Insurance to offer life insurance coverage for free (no premiums paid) as an additional benefit to subscribers who use Airtel’s mobile commerce product, Airtel Money.

A statement issued in Accra on Tuesday by Airtel said Airtel Money users and their next of kin would be covered by the insurance package when they keep an average minimum balance of GHC 5 at the end of every month.

The Director of Mobile Commerce at Airtel Ghana, Kola Sonola, says Airtel is pleased that the introduction of the insurance policy tops up the other numerous advantages Airtel Money offers to users.

“What we are doing at Airtel is to look at introducing products which are innovative and which our subscribers will find useful,” he said.

Mr. Sonola stressed that Airtel Money is continuing to build partnerships with other financial institutions and businesses with the view to ensuring that it provides its subscribers with products tailored to meet their daily needs”.

The Head of Corporate Communications and External Affairs of Airtel Ghana, Donald Gwira, explained that Airtel Money users would enjoy the insurance benefit, when they text ‘’uniBank’’ to short code ‘’3131’’.

They will then receive a confirmation message upon success. The product is open to Ghanaian residents between the ages of 18-75.

According to Mr. Gwira, systems had been developed to ensure that claims presented within 30 days are paid within 48 hours of receipt of the required documents.

Mr. Gwira said the collaboration would lead to increased return on assets, increase in clientele base, and the creation of a one – stop shop for uniBank clients as well as the mobilization of more deposits for the bank.

To use Airtel Money, one has to get an Airtel Ghana SIM card, a valid photo ID (passport/voter identification card/driver’s license /NHIS/National ID).

The subscriber would then fill out an application form at any of the Airtel shops, Airtel money agents or partner banks; (Ecobank, UBA, Standard Chartered Bank; Unibank and Zenith Bank).