MTN Y’ello Biz is an innovative value-added service from MTN that is designed to cater to business people on the network. The service is aimed at giving traders and small business owners peace of mind by offering insurance protection in case of fire, flood, or other business risk at a pocket-friendly rate.
Service Description
MTN Y’ello Biz is an affordable insurance policy that is offered to MTN customers who have small businesses to protect them against unexpected and damaging hazards such as fire and flood.
The product somehow disproves the myth that insurance is meant for the well-to-do and big corporations only. Small business owners or traders on the MTN network can tap into the benefits of 1 million Naira worth of insurance cover by paying just N300 per week.
The plan paid for by a subscribing small business owner will determine the limit of MTN Y’ello Biz insurance liability. It is free to opt in and out of the service. The product is the result of collaboration between MTN Nigeria and Mansard Insurance Plc.
Things to Know about MTN Y’ello Biz
This small business insurance policy only covers damages or losses resulting from fire and special perils such as flood. MTN Y’ello Biz does not cover burglary and accidental damages. Also, only the items stored inside the building or shop of the insured are covered by the policy.
So, the insurance policy does not cover the building or shop, only the items or stock inside.
MTN subscribers that qualify to benefit from Y’ello Biz are those who are registered and fall within the age bracket of 18 to 60. The premium, which is included in service fee, is paid for with airtime balance on your phone – you need to have at least N300 on your line for weekly renewals.
You will continue to enjoy insurance cover as long as you ensure you pay your weekly premiums as at when due. Failure to keep the minimum fee on your line in credit balance leaves you uncovered until you do so.
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You are assigned a policy number after you accept service terms and conditions. The number serves as proof of your insurance cover. Subscribers on the MTN Y’ello Biz service are free to cancel their insurance plan whenever they feel like.
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