U Mobile recently introduced GOLIFE, its first telco assurance product where U Mobile customers may apply, subscribe and manage their life insurance coverage entirely via their mobile phone.
Key features of GOLIFE, according to U Mobile are:
- Simple online registration – Click & be protected immediately (just one health declaration)
- Highly affordable – From as low as RM5 per month
- Pay-as-you-go insurance ie no fixed commitment (subscribe & unsubscribe anytime)
- 60-Day satisfaction guarantee – Unsubscribe within first 60 days and get full refund
U Mobile is now offering two GOLIFE insurance plans:
|GOLIFE 5||GOLIFE 10|
|Premium||RM5 per month||RM10 per month|
|Death / TPD due to natural causes|
|Death / TPD due to “specified infectious disease”
*Dengue Fever, Chikungunya Fever, Malaria, Japanese Encephalitis, Avian Influenza, Zika Virus
|2x of Coverage = RM36,000||2x of Coverage = RM76,000|
|Entry Age Limit||18 – 45 years old|
|Satisfactory Guaranteed Period||60 days|
|Refund for Cancellation (Applicable to Satisfactory Guaranteed Period only)||Refund to customer’s original payment mode – either postpaid account or prepaid main wallet|
|Customer criteria||1. Must be U Mobile customer
2. Only Malaysians or Permanent Residents (PR) with valid NRIC.
|Coverage Term||Coverage renewal on monthly basis, up to expiry of 50 years old|
|Payment Type||Charged to prepaid balance and postpaid account, monthly auto-renewal|
|Mode of Premium||Monthly|
|Subscription Method||U Mobile Self Care portal & MyUMobile app|
|Cancellation Method||U Mobile Contact Centre, U Mobile Self Care portal, & MyUMobile app|
|Certificate Delivery Method||E-certificate will be delivered by SLM via SMS & E-mail|
To mark the launch, U Mobile will be providing selected prepaid and postpaid customers with 2 months complimentary subscription of GOLIFE 5 that comes with coverage up to RM36,000.
GOLIFE is underwritten by Sun Life Malaysia Assurance Berhad. U Mobile and Sun Life Malaysia signed a MoU in May 2017.
Sun Life Malaysia is a joint venture by Sun Life Financial Inc. and Avicennia Capital Sdn. Bhd., a fully owned Khazanah Nasional Berhad investment holding company, specialising in Insurance and Takaful. The company offers a comprehensive range of life insurance and Takaful products and services and is focused on helping customers achieve financial security. Sun Life Malaysia distributes its products through a range of distribution channels including bancassurance (banks), direct marketing, telemarketing and government and corporate business.
Customers can now subscribe to GOLIFE via the MyUMobile app.