Zimnat Life Assurance on Friday marked the launch of its Gadziriro/ Lungiselelo United States dollars funeral policy with a march from Zimnat House to Joina City in Harare, generating considerable excitement in and around Joina City.
Gadziriro/ Lungiselelo is a funeral cash plan that with a monthly premium of less than five United States dollars (USD) pays out up to USD$6 000 for a family of six in United States dollars.
Because premiums are paid in United States dollars, payment under this plan is guaranteed in United States dollars, which means the policy is not affected by any fluctuations in the local currency.
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Gadziriro/ Lungiselelo provides for the principal member, spouse and four children. Each of them are covered for an amount of US$1 000 in the event of their death to give a total of $6 000 presuming premiums continue to be paid. The monthly premium is US$4.99.
The number of family members covered can be more or less than six, with the premium being adjusted accordingly. The policy can even be taken out by a single individual. Premiums vary with the number of people to be covered and the value of cover required.
The minimum cover is US$500. The maximum is US$5 000, which means the amount of cover can be extended beyond US$1 000 for each family member, depending on the premium paid.
Family members aged from 18 to 65 are covered by the policy. Other dependants and children above the age of 23 may be covered at an additional premium. Extended family members, including parents, can also be covered up to the age of 75 for an additional premium.
The premium can be paid on a monthly, quarterly or annual basis. A discount is applicable, if premiums are paid for the whole year.
The plan has an option for vigil and tombstone cover. There is no waiting period in the event of accidental death. No medicals are required to sign up.
Following the march, members of the public were able to apply for the policy at Joina City, where Zimnat staff were stationed for the whole day. Those who signed up also stood a chance to win prizes. Some walked away with t-shirts and caps among other prizes.
The policy can be applied for at any Zimnat branch or agency or online through the Zimnat self-help web portal, selfcare.zimnat.co.zw.
The press statement above was provided by Zimnat Insurance.