ZB LIFE Assurance Limited yesterday launched the enhanced cash funeral plan which provides cash payouts both in foreign and local currencies when a policyholder and listed beneficiaries die.
Speaking at the virtual launch, ZB Life managing director Letwin Mawire said the package was meant to mitigate life challenges.
“This product is a culmination of a long process of research, including listening to our communities and valued clients in our quest to offer reasonably priced financial and insured risk solutions,” she said.
“We have made cash available to meet funeral and burial expenses on the loss of a loved one. Furthermore, we have assisted companies to take care of their employees in this regard.”
“We will resolutely strive to design financial solutions that more than adequately satisfy your needs and, as much as possible, remove financial stress in your times of need.”
ZB Financial Holdings brand manager Cynthia Muzira said policyholders had the option to choose one or more, if not all of the added benefits.
“We have added exciting and very beneficial new services to the existing cash funeral plan in line with the new normal and the needs of our policyholders, whether new or old. Among the added benefits include the memorial cash benefit that will assist policyholders opting for this enhancement with funding for memorial services,” she said
The enhanced package cash funeral plan includes memorial cover, tombstone unveiling, grocery cash cover as well as school fees benefit that offer a cash payout starting from $50 000 to $100 000 for beneficiaries and policy-holders.
Personal accident benefit cover offers a double funeral cash plan in the event that the policyholder dies in an accident. This plan, however, will not cover minors.
The plan will also have a disability cover that will offer six months cash payout with a six-month waiver on paying premiums.