miFuture is an investment-linked microinsurance (MI) plan which allows customers to select insurance Benefits and monthly contribution at inception. It further allows customers to contribute into a savings fund for interest. Eligibility age shall be between 18 and 59 years.
miFuture is a simple mobile delivered life insurance policy. It pays out a benefit when the policyholder passes away, or becomes disabled. The policy allows you to save monthly for your future needs.
Who can subscribe to miFuture?
Anyone between the ages of 18–59 years with a Telecel Cash wallet in good health and is resident primarily in Ghana.
What do I need to subscribe?
Telecel cash registered Customer
Full name of a Selected Beneficiary
Phone number of the Beneficiary (if 18 years or above)
Full name/phone number of Trustee (if beneficiary is less than 18 years)
Full name of a Selected Beneficiary
Phone number of the Beneficiary (if 18 years or above)
Full name/phone number of Trustee (if beneficiary is less than 18 years)
How do I subscribe?
By dialing *462# on Telecel and following the sign-up instructions
Through a dedicated tele sales agent/Sales Agent
By calling miFuture helpline on 462 (Telecel only)
Through Telecel *110# menu
Through a dedicated tele sales agent/Sales Agent
By calling miFuture helpline on 462 (Telecel only)
Through Telecel *110# menu
| Risk Premium Category | Risk Premium (Monthly) | Benefit |
|---|---|---|
| Cool | GHS 3 | GHS 2,750 |
| Standard | GHS 6 | GHS 6,900 |
| Champion | GHS 11 | GHS 12,900 |
How do I pay the monthly premium?
Premiums will be deducted automatically from your Telecel Cash wallet.
How does the savings work?
The policy is designed for every customer to select a monthly savings amount subject to a minimum of GHS5 every month. The savings amount is a top-up on your monthly risk premium. Savings accrue interest based on prevailing market interest rate.
When can withdrawals be made on the Savings account?
The policy also offers the policyholder an opportunity to make withdrawals any time after policy starts.
How do I make a claim?
Request a claim via *462# USSD menu or Call 462 to request.
What documents are needed for claims?
The customer or beneficiary will be asked to go to any Telecel Branch Office or designated merchant to submit:
1. A valid national ID (Voter Card, Driver’s License, Passport, Ghana Card, SSNIT ID) of person making claim
2. A valid national ID of deceased
3. And any of the following:
- Death Certificate
- Medical certificate indicating cause of death (if deceased died at a hospital)
- Police report in case of accidental death
- Mortuary receipt with contact details (if deceased was taken to a mortuary)
- A letter from a recognized authority or institution
4. Proof of disability shall be a certification from a qualified medical practitioner, recommended and recognized by us, stating that you are totally unfit to perform substantially all of the duties of any gainful occupation for which you are reasonably trained.
2. A valid national ID of deceased
3. And any of the following:
- Death Certificate
- Medical certificate indicating cause of death (if deceased died at a hospital)
- Police report in case of accidental death
- Mortuary receipt with contact details (if deceased was taken to a mortuary)
- A letter from a recognized authority or institution
4. Proof of disability shall be a certification from a qualified medical practitioner, recommended and recognized by us, stating that you are totally unfit to perform substantially all of the duties of any gainful occupation for which you are reasonably trained.
What is total permanent disability?
A condition that prevents you from working in any occupation for 3 months and you become incapacitated to such an extent that you are unlikely to ever be able to work in any occupation for which you are reasonably suited by training, education or experience.
Partial permanent disability
A condition that makes you partially but permanently incapacitated. For example, loss of toe, thumb or finger. Refer to table 1 below for schedule.
Table 1 Disability benefit schedule
Table 1 Disability benefit schedule
| Category | Sub category | % of Disability Benefit |
|---|---|---|
| Total Permanent Disability | Total permanent disability that prevents a person from engaging in any employment or occupation of any description. | 100% |
| Loss of sight of one eye and such loss of one entire hand or one entire foot | 100% | |
| Loss of use of an entire hand or foot without physical separation | 50% | |
| Loss of use of an entire hand or loss of sight of one eye | 50% | |
| Complete loss of speech or complete loss of hearing in both ears. | 50% | |
| Partial Permanent Disability | Loss of toe or big toe or thumb or finger | 20% |
Exclusion
This policy shall cover of all forms of death and disability out of any accident unless risks are considered illegal for cover.
Maturity
This policy has no term duration or maturity period upon registration.
Frequency
A policyholder must pay premiums monthly.
Timeliness
It is your responsibility to fund your wallet to ensure that your premiums reach us at the specified time.
Eligibility
You can subscribe if you are between ages 18 to 59 years. You must be in good health and be resident in Ghana at the time of subscription.
Resident in Ghana at the time of purchase
Resident in Ghana at the time of purchase
Waiting Period
When your policy starts, there is 6 months (180 days) period during which no benefit will be paid, except for death or total permanent disability as a result of an accident.
Accidental death shall mean death by bodily injury caused solely and directly by violent, external, unintentional and visible means. Causes of death relating to illness, diseases or the ageing process shall be deemed to be caused by natural causes.
Accidental death shall mean death by bodily injury caused solely and directly by violent, external, unintentional and visible means. Causes of death relating to illness, diseases or the ageing process shall be deemed to be caused by natural causes.
Medical Exam
The policy does not require medical examination.
Changes
If you increase your monthly premium, you will still be insured under your old benefit amount for 6 months (180) days after the increase. Your new benefit only applies after the four months have passed.
You may change your selected beneficiaries during the validity of the policy. If your beneficiary is below 18 years, you will be required to select a trustee.
You may change your selected beneficiaries during the validity of the policy. If your beneficiary is below 18 years, you will be required to select a trustee.
Missed Payments
If you miss three (3) monthly premiums, your policy will become inactive and you will lose your benefits. Your policy becomes reactivated when you pay at least one-month premium. A waiting period of 6 months (180 days) apply for reactivated policies. Any premiums you miss will be deducted from the benefits to be paid to you or your beneficiary.
Maximum Benefit Payable
The maximum amount of benefit that can be paid on an insured person is GHS 12,900. If a subscriber has multiple premiums on different Momo wallets, they will receive up to GHS 12,900.
Termination/Expiry
Your policy is terminated if you pass away, cancel the policy. If you cancel the policy, any savings you have will be paid to you.
Reinstating a Terminated Policy
If your policy ceases you can request surrender benefit payout or request to be re-instated.
Agreement
This document shall form the basis of the entire contract. Any changes passed through any appropriate endorsement to these documents shall be accepted as part of the contract.
In the event of any disputes between you and us, we will endeavor to solve the matter ourselves. If we are not able to resolve the difference, an independent arbitrator including the National Insurance Commission shall be engaged in accordance with the Arbitration Act 1964 of Ghana.
With the documents listed above, you can also file on our website at Claims. Call us on 462 or send us a WhatsApp message on 050 151 8609 or walk into any of our branches.
In the event of any disputes between you and us, we will endeavor to solve the matter ourselves. If we are not able to resolve the difference, an independent arbitrator including the National Insurance Commission shall be engaged in accordance with the Arbitration Act 1964 of Ghana.
With the documents listed above, you can also file on our website at Claims. Call us on 462 or send us a WhatsApp message on 050 151 8609 or walk into any of our branches.
Definitions
Accidental Death or Disability:Death or disability caused solely and directly by violent, external, unintentional and visible means and that such injury was the sole cause of death or disability.
You: Policyholder
Us or We: miLife Insurance Company Limited
Risk Premium: Premium paid to cover the insurance benefit and does not include additional contribution towards your savings account.
You: Policyholder
Us or We: miLife Insurance Company Limited
Risk Premium: Premium paid to cover the insurance benefit and does not include additional contribution towards your savings account.
How Do I Make a Claim
What documents are needed for a claim?
