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Business Reporter

Zimnat Life Assurance has launched an ‘inflation-proof’ funeral policy that provides for regular review of covers and premiums in order to hedge against inflation and maintain the value of the policy.

Zimbabwe has been experiencing an inflationary environment over the past months following a series monetary policy adjustments, which has seen policyholders lose value on their chosen funeral policies.

Zimnat’s new Gadziriro/Lungiselelo ZWL$ Funeral Plan, is designed to overcome this problem and maintain the value of the policy by making it an inflation-linked plan.

The policy covers death from any cause, including Covid-19.

And in the event of accidental death, the cover takes effect immediately.

Said Zimnat:

“For a premium of $191 per month, members of a family of six are each initially covered for $30 000, meaning that altogether $180 000 will be paid out eventually to the family. However, the family can review the cover upwards every month to ensure it is adequate to meet funeral expenses.

“The policy is not restricted to a family of six, nor is the amount of cover limited to $30 000 per person. Individuals and families of any size can take out the plan, with the premium varying according to the number of people to be covered and the value of the cover required. Covers are available initially from $10 000 to $100 000 per person.”

The plan also comes with other benefits, namely that there are no medicals required when signing up.

There is also an option to take out additional cover for vigil and tombstone expenses for the whole family.

Zimnat Life Assurance managing director Workmore Chimweta, said the company was always looking for ways to deliver products and services that continuously make life better for customers.

“Gadziriro/ Lungiselelo ZWL$ was born out of the need to preserve value for our customers. With the current economic environment customers need to live with peace of mind, knowing that the value of their policy is maintained regardless of inflation,” he said.

Zimnat Life Assurance offers life assurance solutions to Zimbabweans both locally and in the diaspora. The company is part of a bigger group that also includes Zimnat General Insurance, Zimnat Asset Management and Zimnat Microfinance.

The group is associated with Sanlam, one of the largest non-banking financial institution in Africa.