Postal services provider Zimpost has partnered First Mutual Life (FML) Assurance to launch funeral assurance — PostLife Funeral Cash Plan. The product is underwritten by FML.
The partnership, signed on March 1, 2018, entails the distribution of life assurance products under the Zimpost brand name Postlife, underwritten by FML.
“The funeral cash plan as a product is affordable and accessible throughout the postal footprint and is designed and packaged to give bereaved families immediate access to cash to cover funeral expense,” Zimpost chief executive officer Sifundo Moyo said during the activation of the funeral cash plan in Harare.
The product will be immediately available in Harare and Bulawayo and will be rolled out to the rest of Zimpost’s expansive network by July 9, 2018.
“PostLife Funeral Cash Plan is expected to go a long way in enhancing financial inclusion among the population of Zimbabwe particularly the underprivileged, poorer rural communities, ”Moyo said.
PostLife Funeral Cash Plan has highly affordable premiums from as low as $0,80 for adults and $0,40 for dependents.
“It is now possible to get funeral cover for as many dependents as possible at premiums affordable and within reach of all citizens across the entire cross-section of the Zimbabwean society whether urban or rural dwellers, employed or unemployed, young or elderly,” said Moyo.
Zimpost recently introduced Post Insurance in partnership with short term insurer NicozDiamond. The partnership will see Zimpost moving from issuing insurance cover
notes on commission basis to offering its own insurance products underwritten by NicozDiamond.
— The Financial Gazette
