Telecel Cash miFuture and how you can get on it

miFuture is a mobile delivered life insurance policy investment-linked microinsurance plan which offered by miLife Insurance (formerly of Unique Trust) on the Telecel Cash service that allows subscribers to select insurance benefits and monthly contribution from the get-go. The insurance product allows subscribers between the ages of 18 and 59 years to contribute into a savings fund for interest.

The policy pays out a benefit when the policyholder passes away, or becomes disabled. Premiums upon subscribing is deducted automatically from your Telecel Cash wallet. The policy allows you to save monthly for your future needs as every subscriber can 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. The savings accrue interest based on prevailing market interest rate.

Policy holder can make withdraw anytime after commencement of the policy.

Particulars required for Subscription

• 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)

To get on it

• Dial *110#
• Select Option 5 – Financial Services
• Select Option 1 – Insurance
• Select Option 2 – miFuture
• Select Option 1 – Continue You will be redirected to the miFuture platform for registration

The terms

MiFuture Terms and Conditions as of 23^rd of January, 2025. (https://support.telecel.com.gh/help/mifuture-terms-and-conditions/)

Terms and Conditions

1.1 Exclusion

This policy shall cover all forms of death and disability out of any accident unless risks are considered illegal for cover.

1.2 Maturity

This policy has no term duration or maturity period upon registration.

1.3 Frequency

A policyholder must pay premiums monthly.

1.4 Timeliness

It is your responsibility to fund your wallet to ensure that your premiums reach us at the specified time.

1.5 Eligibility

You must be in good health and be resident in Ghana at the time of subscription. However, if the beneficiary is less than 18, you can use a trustee who can be anyone at all.

1.6 Waiting Period

When your policy starts, there is a 4 months (120 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.

1.7 Medical Exam

The policy does not require a medical examination.

1.8 Start Date

The policy will start when the company has accepted your application and your first premium has been deducted. You may cancel the policy for a total refund of the premium paid if you cancel the policy within (15) days from the start of the policy.

1.9 Changes

If you increase your monthly premium, you will still be insured under your old benefit amount for 4 months (120 days) after the increase. Your new benefit only applies after the 4 months (120 days) 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.

1.10 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 (1) one-month premium. A waiting period of 4 months (120 days) applies for reactivated policies.

1.11 Maximum Benefit Payable

The maximum amount of benefit payable for every insured miFuture policyholder is GHS 12,000. Therefore, should a subscriber buy miFuture on different Telecel Cash wallets, he will receive benefits up to GHS 12,000 maximum.

1.12 Claiming your Benefit

The following documents are required to claim your benefit:

• A valid national ID (Voter Card, Driver’s License, Passport, Ghana Card, SSNIT ID) of the person making the claim.
• A valid national ID of the deceased.
• Proof of death which should include the following:
  • Death Certificate
  • Medical certificate indicating the 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  With the documents listed above, you can also file a claim on our website at www.milifeghana.com/ claims + ohemaa@milifeghana.com Call us on 462 or send us a WhatsApp message on 050 151 8609 or walk into any of our branches.

1.13 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.

1.14 Lapse

If you miss 3 consecutive months of premium, the policy will end and you will be entitled to your savings contribution(s).

1.15 Reinstating a Terminated Policy

If your policy ceases you can request to be reinstated by paying a 1-month premium; a waiting period of 4 months (120 days) apply for reactivated policies.

More Information ℹ

• miLife Insurance
• Telecel Cash miFuture