Old Mutual is now live and available on the MTN Mobile Money platform *007# to enable customers to pay for their policies using Mobile Money.

“Continuously providing a first class experience for our customers is at the top of our customer strategy and we aim to improve our benchmarks with each customer intervention we execute. This latest feature that we have enabled of paying for policies through Mobile Money is testimony to our vision” remarked Old Mutual Chief Executive Officer, Muzi Bell.

Steps to be followed by customers that have Old Mutual policies are:

• Dial *007#
• Select ‘Send Money’
• Select ‘Companies’ (this should be option 5)
• Select ‘Old Mutual’
• Enter Old Mutual Policy Number
• Follow the remaining steps

Currently Old Mutual offers two modes of payment for customers with insurance policies. These are Debit Order and Stop Order. Mobile Money has been added as a third alternative, which will be convenient for customers that already have existing policies and also those that do not earn a fixed salary. This essentially means that the first premium payment must still be made either through Debit Order or Stop Order and only thereafter can a customer be able to utilise the Mobile Money payment option. Customers will have to ensure that when they pay using Mobile Money they also add the required payment charge to their monthly premium amount in order for the payment to be successful and keep the policy active to avoid the policy lapsing or worst still getting cancelled due to the incorrect amount being paid.

Bell implored customers to be cognisant of the charges and said “the onus of keeping the policy active is on the customer and we want customers to enjoy the maximum benefit their policy will provide them as long as they pay the required monthly premium and stay the duration or term of the policy. For example, our Old Mutual Investment Plan is 10 years but it also offers amazing benefits customers can utilise as they journey with us to the end of their 10 year period”.