On the occasion of easypaisa’s 3rd launch anniversary, Tameer Microfinance Bank and Telenor Pakistan announced the launch of a new product called easypaisa Khushaal to provide financial cushioning to easypaisa customers and their families.
A ceremony was organized here in Karachi to announce the launch and Kazi Abdul Muktadir, Deputy Governor, State Bank of Pakistan was the chief guest on the occasion.
Easypaisa Khushaal is a new savings product offering free life and accidental death insurance along with an attractive lucky draw prizes for its subscribers. easypaisa has partnered with Adamjee Life Insurance for insurance coverage. By subscribing to easypaisa Khushaal and maintaining a monthly average balance of Rs. 2,000 in their easypaisa Mobile Accounts, customers will be covered for life and accidental death insurance absolutely free.
Telenor claimed that the insurance provided through easypaisa Khushaal is unique in the fact that it provides protection against the risks of riots and terrorism as well. The amount of insurance coverage is tied directly to subscriber’s Mobile Account balance and the insurance provides coverage of up to Rs. 500,000 in case of natural death and Rs. 1 million in the case of accidental death, with an additional benefit of Rs. 5,000 per month for five years in both cases. The higher the balance in a customer’s mobile account, the higher the insurance coverage will be.
Speaking on the occasion Nadeem Hussain, President and CEO of Tameer Microfinance Bank said, “At the moment almost 89% of the Pakistanis are unbanked. The savings to GDP ratio is in single digits. The principal reason behind this is the difficulty in opening a bank account, the opening balance, minimum balance requirement and the banking industry’s banking hours. The easypaisa Khushaal account not only addresses these challenges but provides additional benefits. By materially reducing the barrier to entry we expect to change how Pakistanis save. The launch of easypaisa Khushaal is another step towards the financial inclusion of Pakistanis. We hope this initiative will bring a valuable difference in the lives of the people of Pakistan.”
During his address to the ceremony Roar Bjærum, Chief Financial Services Officer at Telenor Pakistan said,” I would like to start off by congratulating our customers on 3 successful years of easypaisa. With easypaisa Khushaal, a major stride forward has been taken by bringing the financial security right at its customer’s doorstep. We at easypaisa are committed to making the lives of our customers easier and we are confident that with easypaisa Khushaal, we move forward to honoring our commitment with our customers.”
Easypaisa Khushaal subscribers will also have the opportunity to win exciting rewards including a brand new Honda City car through a quarterly lucky draw besides the benefits of savings and insurance. The higher the balance in a customer’s Mobile Account, the higher will be his/her chances of winning in the lucky draw. Existing easypaisa Mobile Account customers can subscribe to easypaisa Khushaal by dialing the Telenor helpline 345 from their mobile phones or by visiting their nearest Telenor Sales and Service Center or Franchise or Tameer Bank Branch.
what mean by this “maintaining a monthly average balance of Rs. 2,000 in their easypaisa Mobile Accounts”
If you have Rs 2000 in your account on day 1 and Rs 0 on day 2, then average balance is Rs 1000 for the 2 days. To get the FREE insurance the average balance has to be Rs 2000 or more for 30 days in a month.
Like this you may get insurance even if your account has 0 balance sometimes during a month but the average should be RS 2000 or higher.
No Dear you have to maintain this balance for at least 20 days out of 30
Dear Mehran, As per the new terms and conditions this 20/30 days is not there any more. You get the insurance even if you have signed up on the last day during the month. You just need to meet the average balance criteria.