Equitel subscribers will now have access to a mobile-based insurance product called Riziki Cover. This cover will ease the financial burden resulting from the daily income lost from one’s employment or personal business due to cases of hospitalization.
Riziki Cover has been introduced through a partnership between: Equitel, Equity Insurance Agency, Britam and Inclusivity Solutions, which is a technical service provider. The cover is accessible to Equitel subscribers who either use airtime from Ksh. 100 or make Mobile Banking transactions worth Ksh. 1,000 or more monthly.These subscribers may activate the cover by dialling *745#.
If a registered subscriber is admitted in hospital for a period of three consecutive nights or more, they will receive a fixed payout for every night spent in hospital.
Compensation is as follows: Ksh. 400 per night will be given to a registered Equitel subscriber who uses airtime above Ksh. 100 or makes mobile banking transactions above Ksh. 1,000. While Ksh. 800 per night will be given to a subscriber who uses airtime above Ksh. 100 and makes mobile banking transactions above Ksh. 1,000.
Additionally, Equitel subscribers can upgrade their cover to ‘Riziki Plus Personal Cover’ or ‘Riziki Plus Family Cover’ by paying monthly premiums of Kshs 140 and Kshs 620 per month respectively.
For these premium products, Equitel users with the Riziki Plus Personal Cover will receive a cash payout of Kshs 2,500 per night for hospitalization of three consecutive nights. Those with the Riziki Plus Family Cover will receive a cash payout of Kshs 2,500 per night in case any of his/her dependants (a registered spouse and children who are under 18 years) are hospitalized for three nights and above.