The EcoSure Funeral Service is now offering $500 in funeral cover in a bid to get more people using EcoCash payroll and obviously EcoCash by association. You can get the cover if you are:
- Registered on EcoCash Payroll.
- Receiving your pay through Ecocash Payroll
- Between ages 18-70.
It’s a bit strange that EcoSure is offering this to people above 65 years since that’s the national retirement age but they are probably taking into consideration the fact that there are number of people who are above 65 and still working anyway.
The $500 will be given to a beneficiary of your choice, once you’ve passed on. In most low-income societies where people live from hand to mouth, it’s next to impossible to set aside funds in case someone dies so I do think this is a noble innovation by EcoSure. The fact that you are not paying anything on top of the premiums you were already paying is also beneficial.
You may be wondering how EcoCash or EcoSure will get their money if nothing is being taken from your salary. Well, I think the idea is that if you’re using EcoCash Payroll to receive your salary, that means you are probably relying entirely on EcoCash to make transactions. If you’re entirely reliant on EcoCash you’re probably contributing a lot through transaction charges and doing so on a continuous basis. Eventually, they make their money and you get your cover, everybody wins I guess.
With over a million of people using EcoSure (whether they like it or not) if a fraction of these users sign up for EcoCash Payroll Econet is bound to make their money.
The overlooked terms and conditions
Before committing to any service always make sure you are aware of the terms and conditions. Just think about it. You ditch your traditional banking service to make sure that in the unfortunate case that you pass on, your family isn’t stranded. Then when you do pass on, your family is informed that they are not entitled because one of the terms & conditions was not met… Ouch!
Will you be switching over to EcoCash Payroll to get your benefits? Let us know in the comments.
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