Old Mutual Zimbabwe has launched a fully-fledged funeral services unit as it expands its business footprint in response to market demand.
The facility was launched last week on Friday in Harare and is a response to customers’ call for tangible funeral services, which are over and above the cash benefit that Old Mutual offers.
In a statement, the listed diversified financial services group said the funeral cover offers a premium standard of funeral service that includes services like water bowser, nationwide bus service, and family courtesy vehicle.
Mr Samuel Matsekete, Old Mutual Group Chief Executive Officer said:
The family courtesy vehicle is the first of its kind in the funeral services sector, now when making funeral arrangements the vehicle can be used by the bereaved family for any logistical needs.
Old Mutual is listed on the stock exchanges in London, South Africa, Malawi, Namibia and Zimbabwe.
Managing Director of Old Mutual Life Assurance, Ms Rutendo Magorimbo said for clients who seek to migrate from one funeral policy to the other, there would be no waiting period. She said:
Premiums are very affordable from as little as US$3 per month. There is also 100 percent of cash in lieu, where you can claim cash out if a beneficiary’s funeral was covered by another funeral policy.
In addition, the plan offers free cover for biological children, and no waiting period if you migrate from another funeral policy.”
The packages come with a standard cash pay-out across all plans, where a minimum of US$250 up to US$1000 is paid out. Packages range from Lite, Classic, Premium to Supreme.