--- title: "How does Bima deduct from MoMo? Full honest explanation" description: "Understand exactly how Bima Ghana MoMo deductions work, why we take money, and how to cancel or change your premium. Full honest explanation." keywords: "Bima insurance MoMo deduction, Bima Ghana deduction, why did Bima take money from my MoMo, Bima premium deduction" url: "https://bima.com.gh/blog/how-bima-momo-deductions-work" language: "en" --- # How does Bima deduct from MoMo? Full honest explanation Understand exactly how Bima Ghana MoMo deductions work, why we take money, and how to cancel or change your premium. Full honest explanation. June 1, 2026 If you’ve recently checked your Mobile Money \(MoMo\) statement and noticed a Bima Ghana deduction, you might be wondering why Bima took money from your MoMo. We believe in complete transparency, so here is a full, honest explanation of how the Bima premium deduction works, why it happens, and what you can do about it. ## The Step-by-Step Deduction Process 1. **Registration:** When you first sign up for a Bima policy \(like B-Care, B-Health, or B-Life\) through a phone call or an agent, you provide your consent to be enrolled. 2. **Mandate Approval:** You must approve a mandate on your MoMo phone to authorize the automatic deductions. This ensures we never take money without your permission. 3. **Active Policy:** Once the mandate is approved, your policy becomes active. 4. **Automatic Deduction:** The agreed premium amount is automatically deducted from your MoMo wallet at the scheduled time to keep your insurance coverage active. ## Deduction Timing, Frequency, and Dates The timing of your Bima insurance MoMo deduction depends on the payment schedule you agreed to during registration. Deductions can happen daily, weekly, or monthly. If your MoMo wallet does not have enough funds on the scheduled date, the system may try again on a subsequent day until the premium for that period is successfully collected. This is done to ensure you do not lose your insurance coverage due to a temporary lack of funds. ## Deduction Amounts and Reasons The amount deducted is directly tied to the specific insurance plan you chose. For example, if you signed up for a family health plan, the premium will be higher than a single-person life insurance plan. The money goes directly toward keeping your policy active, ensuring that if you get sick or have an emergency, Bima is ready to pay out your claims or provide free teleconsultations. ## What Deductions Appear As on MoMo Statements When a deduction occurs, you will typically receive an SMS alert from your mobile network operator. On your MoMo statement, the transaction usually appears with references such as **"BIMA"** , **"MILVIK"** , or **"BIMA PREMIUM"**. If you see these names, it is for your active insurance policy. ## How to Change Your Plan If you feel the current Bima premium deduction is too high or if you want to upgrade your coverage, you are always in control. You can change your plan by calling our toll-free number \(0800 000 545\). Our agents will help you find a plan that fits your current budget. ## Troubleshooting Incorrect or Mistimed Deductions Mistakes happen rarely, but if you believe you were charged incorrectly, charged twice, or charged after cancelling, please contact us immediately. Have your MoMo phone number and transaction ID ready. We will investigate the issue and, if a mistake was made on our end, we will process a refund. ## How to Pause or Cancel Coverage We want you to stay protected, but we also respect your financial situation. If you need to stop the deductions, you can cancel your policy at any time. There are no hidden cancellation fees. Simply call our customer service team at 0800 000 545 and request a cancellation. Once processed, all future deductions will stop. We value your trust over keeping you locked into a policy you do not want. ## Frequently Asked Questions \(FAQs\) Why did Bima take money from my MoMo? The money was deducted to pay the premium for your active Bima insurance policy, which you or someone using your phone registered for and approved via a MoMo mandate. How do I stop Bima deductions from my MoMo? You can stop the deductions by calling our toll-free customer service line at 0800 000 545 to cancel your policy. Can I get a refund if I didn't want the policy? Refunds are assessed on a case-by-case basis. If you believe a deduction was made in error or without a valid mandate approval, please call us to investigate. What happens if my MoMo has no money on deduction day? The system will pause and retry the deduction later. If premiums remain unpaid for a long time, your policy may be suspended, meaning you cannot claim benefits until payments resume. Is my money and MoMo PIN safe? Yes. Bima never has access to your MoMo PIN. We only send a request to your network provider, and you securely authorize the mandate on your own phone. Do I need a bank account for Bima? No, you do not need a bank account. All premium payments and claims payouts can be handled directly through your Mobile Money wallet. ### Have questions? Call our team toll-free or use our teleconsultation service. We are here to help you understand your policy and deductions. [Call 0800 000 545](tel:0800000545)