Any MTC Postpaid/Contract Subscriber between the age of 18 and 75 is entitled to cover in terms of this proposal provided he/she is a permanent resident in Namibia or is/will be a resident for a period not less than 12 months. Should a Subscriber be absent from Namibia for more than 12 consecutive months, the cover that such a Subscriber would have been entitled to in terms of this proposal shall be forfeited.
A Life Assured may take out multiple MTC Credit Life policies over a maximum contract term(s) of 36 months, provided that the combined value of the initial/outstanding loan amounts on all contracts does not exceed N$250 000.
Suitable evidence in respect of any death claim must be supplied to MTC within 6 months of the Subscriber’s/Assured’s death, or 3 months after an inquest into a death (where applicable).
The maximum initial amount that can be granted to a PostPaid subscriber with one or more equipment contracts is N$250 000. The single premium is expressed as an amount per N$1 000 of the initial loan amount granted or for existing subscribers, the outstanding loan amount at entry, per year of loan.Per year of loan rate: N$6.50 The premium payable will be calculated as follows: Premium = Single Premium Rate x Initial/Outstanding Loan Amount/1000 x Initial/Outstanding Loan Term/12.
