Dhaka: Grameenphone Limited, leading cellular phone operator in the country, has partnered with MicroEnsure Asia to facilitate life insurance coverage to its subscribers.

The operator has introduced "Nirvoy Life Insurance", a micro- insurance product underwritten by Pragati Life Insurance and powered by MicroEnsure Bangladesh, said a press release.

Nirvoy Life would reward Grameenphone subscribers with free life insurance coverage based on the amount of airtime used each month. The product has been simplified to make it easy to use and free to subscribers.

Allan Bonke, chief marketing officer of Grameenphone, said, "Nirvoy Life Insurance is an exciting new venture for Grameenphone by providing protection for our subscribers who have never been able to afford insurance."

Subscribers can qualify for the insurance by using as little as BDT 250 of airtime each month and, the more airtime subscribers use the more free insurance they earn up to a maximum of BDT 50,000 of benefit upon death.

This life insurance becomes active on the first day of the month following registration and the total insurance benefit is based on the subscriber's airtime usage in the previous month.

"Nirvoy Life Insurance is an unprecedented opportunity to deliver micro-insurance to millions of Bangladeshis who use the mobile phone," said Jalalul Azim, managing director of Pragati Life Insurance.

Martin Fuller, Chief Operating Officer (COO) of MicroEnsure Asia said, "Insurance has traditionally been reserved for the wealthy, but with Nirvoy Life Insurance, all Bangladeshis can be protected for free and have peace of mind that their family will be looked after should the worst happen."

Ends/AMA/10/06/13