Nyaradzo Life Assurance unveils Sahwira Lite, a low cost Funeral Cash Plan

Nyaradzo Life Assurance introduces Sahwira Lite, a low cost Funeral Cash Plan

Insurance24 Reporter

HARARE, Nyaradzo Life Assurance has unveiled a low cost Funeral Cash Plan known as Sahwira Lite for as little as 0.50 cents with a cash payout of up to $500 depending on the sum assured.

Sahwira Lite is a funeral cash plan which rolled out last week and provides a specified cash benefit on death of a covered member and pays out the sum assured immediately after receiving all the required documents.

“We are very excited to announce the launch of the Sahwira Lite Funeral Cash Plan on 1 August 2017. Our clients have been asking for a cash funeral policy and we have responded to their requests,” the company said in a statement.

Below are the cover levels (cash payout) and premiums per individual:

Sum Assured (Cash Payout)   Individual Monthly Premium      Individual Annual Premium

$200                                                   $0.50                                                   $6.00

$300                                                   $0.80                                                   $9.60

$400                                                  $1.00                                                    $12.00

$500                                                  $1.30                                                     $15.60

According to the company, below are the key features of the Sahwira Lite funeral cash plan.

Key Features

>All the lives assured under the Sahwira Lite Funeral Cash Plan should be on the same cover level i.e. one cannot opt to cover one’s self for $500.00 and their dependent/s for $200.00 etc.

>A maximum of three (3) biological/legally adopted children of the principal member, under the age of 23 years are covered for free where the policy is a stand-alone policy.

>Where the policy is an add-on to an existing policy, all biological/legally adopted children under the age of 23 years are covered for free i.e. more than the three (3) mentioned above.

>The policy is available as a stand-alone policy or as an add-on to an existing policy.

>Medical tests are not required.

>The policy covers other dependants for an additional premium. The policy has a waiting period of three (3) months. Cover is immediate if death is as a result of road traffic accident.

>Minimum entry age for the principal member is 18 years and maximum is 70 years.

>In the event of death of the principal member, the benefit is paid to the nominated beneficiary.

Meanwhile, Nyaradzo Life Assurance Company has two divisions the Life Assurance Division, and the Nyaradzo Funeral Services.