MTN now offers insurance for your SIM card

MTN has announced a new Cyber SIM policy that offers insurance for your SIM card, including covering SIM swaps and stolen data.

According to the company, the insurance is available as a standalone purchase for customers. It covers the cost of SIM swaps, cloned SIM cards, and restoring stolen data.

The insurance is meant to help customers who experience physical theft of their device and SIM card. But it also has solutions for those who experience malware incidents and SIM cloning.

The Cyber SIM insurance includes:

• A payment of up to R150 to replace a lost SIM card, with a monthly premium of R9.50.
• Cover for the use of a stolen SIM card (up to R 1 000 for the first 24 hours after a loss takes place).
• Cover for cloned cards (R500 airtime/data combination).
• A benefit of R1 000 to allow an expert to restore data and software on the owner’s device after a malware/virus incident.
• Cover for up to two SIM card cloning claims within a rolling 12-month period.

The company has also announced an additional Excess Buy-Down insurance plan to reduced excess payments for repairs on certain policies.

“We believe that our new offerings will reduce the potential stress that comes with losing a phone when you out of the comfort and safety of your home and this will add value and peace of mind, not having to worry in case something goes wrong,” Felix Kamenga, Chief Officer of MTN SA’s Mobile Financial Services, said in a statement.

Feature image: Silvie Lindemann/Pexels

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