Zimnat launches inflation-proof funeral cover
HARARE,Zimnat Life Assurance has launched an inflation-proof funeral policy, which provides for regular review of covers and premiums in order to hedge against inflation and maintain the value of the policy.
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. In the event of accidental death, the cover takes effect immediately.
“For a premium of $191 per month, members of a family of six are each initially covered for ZWL$30 000, meaning that altogether ZWL$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,” said Zimnat in a statement
Old Mutual unveils free ZWL$2bn life insurance cover for Zim health professionals
HARARE, OLD Mutual Zimbabwe last week unveiled a free ZWL$2bln life insurance cover to benefit the country’s health professionals who are on the front line to fight the deadly coronavirus.
Zimbabwe has so far recorded 11 cases of the disease, which is also known as COVID-19, and three deaths.
Speaking during a Zoom video meeting ,Old Mutual Zimbabwe chief executive officer, Sam Matsekete, said in the event of losing the life of a health worker, Old Mutual undertakes up to 12 times monthly basic salary to the surviving family of the practitioner.
The package will cover the lives of health professionals who battle to save the lives of Zimbabweans, for tge initial period of six months from April to September 30, 2020 for free.
There after, it will be offered at a discount.
“In this period of crisis, we have mobilised to work alongside those who are fighting the pandemic, which is why we have decided to make this practical gesture of support to our hospital staff, who are working to ensure adequate care for patients as well as universities which are innovating to produce key materials required to fight the pandemic,” Matsekete said.
“Unlike with traditional cover offered, this is neither a product nor a policy and no premiums will be recovered on it during the six months free period. To qualify, health professionals have to register with Old Mutual to receive free cover for six months. Health professionals will be offered the opportunity to continue the cover beyond six months at a discounted cost.”
During the scheme,COVID-19 death and accidental death are covered immediately, while death from any other causes have a three month waiting period.
Old Mutual has also extended funding to Sally Mugabe Hospita(formerly Harare Central Hospital)l and Thorngroove Hospital in Bulawayo as well as Africa University and Chinhoyi University of Science Education to ramp up production of sanitizers and face masks respectively.
“In addition, as responsible businesses, Old Mutual together with its banking subsidiary CABS have put together a further ZW$3.5 million towards the fight against COVID-19. The Group will provide healthcare staff at Harare Hospital and at Thorngroove in Bulawayo with protective gear, and will assist Africa University in Mutare and Chinhoyi University of Science Education to ramp up production of sanitisers and face masks respectively.
In consultation with health authorities, Old Mutual and CABS will be providing 300 protective kits to health workers at Harare Hospital and 200 at Thorngroove Hospital in Bulawayo.