Life insurance: With SONAR FREE INVEST, contribute freely from 100 FCFA per day

Life insurance: With SONAR FREE INVEST, contribute freely from 100 FCFA per day

The National Insurance and Reinsurance Company (SONAR), in collaboration with Moov Africa Burkina, launched this Friday, May 27, 2022 in Ouagadougou, its brand new product called “SONAR FREE INVEST”. This is a quick and easy mechanism that allows low-income people to pay their dues freely via Moov Money.

Insurance for everyone in just a few clicks. It is now possible with the SONAR Group and its partner Moov Africa Burkina, both leaders respectively in the field of insurance and mobile telephony. Called “SONAR FREE INVEST”, this innovation was launched late Friday afternoon during a ceremony at the Bravia Hotel, in the presence of several partners.

A boon for the informal sector and associations

According to the general manager of the SONAR Group, Thomas Zongo, “SONAR FREE INVEST” is “a savings and capitalization product which allows the insured to build up, through free contributions from 100 CFA francs per day, a capital payable at the end of the contract. »

According to him, the market study carried out before the development of the product showed, on the one hand, that a section of the population is excluded from the classic insurance system, and on the other hand, that despite their desire to contribute, some people could not find reliable players to secure the savings they strive to contribute every day or according to their ability to contribute.

The launch ceremony brought together the staff of the two companies, but also actors from the informal sector.

SONAR FREE INVEST is therefore a godsend for actors in the informal sector such as traders, farmers, mechanics, craftsmen, etc. but also associations and groups. The general manager of the SONAR Group will say that Moov Money customers will be able to “save serenely at their own pace, pay the premiums for all SONAR-VIE insurance policies, receive payment for benefits in their Moov Money account and finally consult the characteristics of their SONAR-VIE insurance policies.

How to subscribe?

To subscribe, the customer must dial *555*3*2*1*1*2#. Then, he can choose the periodicity of the contribution, fill in the duration of the contribution then validate by typing his secret code. A validation message will be sent to him. To subscribe to the Death + Total and irreversible loss of autonomy (PTIA) option, the user must send to (00226) 01 24 31 31 “contract number + Death Guarantee or PTIA” to guarantee a capital of 250,000 F CFA for his relatives against an annual bonus of 1,200 CFA francs.

Thomas Zongo, CEO of SONAR Group

The benefits for the subscriber

In his presentation, Sié Alain Kambiré, Sales and Marketing Director of the SONAR Group focused on the benefits of the new product. According to him, SONAR FREE INVEST, offers a double remuneration of the entire contribution net of entry fees at the minimum rate of 2.5% annually, increased by at least 85% of the financial profits and 90% technical benefits made by SONAR-VIE.

Then, the customer benefits at any time from the fruits of his contract by requesting a partial or total redemption or by taking out a repayable advance with interest and administration fees.

Alain Kambiré of the SONAR Group during the product presentation

Finally, he receives at his request from the fifth year the capital in the form of an annuity and guarantees a survival capital for his family in addition to the savings constituted through the option Death + Total and Irreversible Loss of Autonomy.

“The product is secure”

In his speech, the general manager of Moov Africa Burkina, Abdelillah Elaydi, indicated that the partnership between Moov Africa and the SONAR Group is part of “the promotion of the digitalization of commercial acts and has two main objectives, namely, to improve life insurance penetration rate in Burkina Faso and offer millions of Moov Money users privileged and easy access to the SONAR FREE INVEST product”.

He reassured that the product is end-to-end secure. “Moov Money, as an electronic money channel, is a secure system. So all transactions that go through Moov Money benefit from the same level of security for other services,” said Abdelillah Elaydi.

The General Manager of Moov Africa Burkina, EL AYDI Abdelillah reassured customers about the security of the product and the transactions that will be

According to him, the mobile phone company intends to play a leading role in the ongoing digitalization process in Burkina Faso. “This involves making very high-speed Internet connection solutions available to the entire population at affordable prices, not to mention the development of Moov Money, which is today the cheapest electronic payment solution , the fastest and safest on the market”, says the general manager, Moov Africa Burkina.

Coming…

In order to get the Burkinabè to adopt the product, SONAR plans to send several advisers to the field to promote the product. Two hundred advisors will be mobilized to support the three hundred advisors already in place to encourage people to subscribe to the product. As perspectives, the customers of SONAR FREE INVEST will be able to contract a loan up to the level of the savings made up with the partner financial establishments.

HFB

LeFaso.net

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