Zimnat upgrades the Whole Life Plan with additional benefits
Insurance24 reporter
HARARE, Zimnat Life Assurance has upgraded its Whole Life Plan to include additional benefits as the company seeks to consolidate its position on the market.
Chief Operating Officer Elizabeth Rabvukwa in an emailed response to Insurance24 said the product while not entirely new, is a revised and revamped product.
We know and respect that our clients work tirelessly to ensure their families, businesses and assets are always protected, we understand this, which is why we too have worked tirelessly to tailor make the Zimnat Whole Life Plan, giving them peace of mind and comfort regardless what the future might bring,” she said.
The plan offers benefits including Death benefit, Accidental death benefit, Funeral cover for the policy holder payable immediately upon death, Free will writing facility, Annual benefit escalation. The plan does not discriminate against diseases including ones HIV status.
In addition, the plan is flexible with the minimum age acceptable for signing up being 18 years and the maximum 60 years. The cover is given in exchange for monthly; quarterly, annual premiums and the Premium payment terms range from 5 to 25 years. There is no maximum cover.
Meanwhile, the multipurpose plan can be utilised for various needs which also include Family liveable income.
Zimnat has been one of the leading players in the Zimbabwean life assurance and short-term insurance industries since 1946. The Group has a good credit rating of A- for both the life assurance and short-term insurance businesses, and an asset base of $92 mln.
The Group rebranded in March this year in response to its partnership with Sanlam Emerging Markets (SEM) of South Africa which acquired a 40% shareholding in 2015.
SEM is a leading diversified Pan-African financial services group listed on the Johannesburg and Namibian Stock Exchanges. Sanlam was established in 1918 as a life insurance company
