Still Skeptical?
Back in 2014, in the rural areas where i used to stay, a funeral policy company came and urged all civil servants to take funeral policies. Everyone in that small community of rural teachers including me a millennial refused to do so because an ancient belief associates signing up for life assurance or funeral policy with imminent death. To put it bluntly we thought signing up would be a way of inviting death in our lives. Yesterday as i was conversing with general people including mahwindi ( touts ) i discovered that everyone is now conscious about life assurance and funeral policies. One person actually asked me “ Ahhh pane asina policy here nhai sister?” a rhetoric statement meaning who in their right mind would not have a life assurance policy in this day and age. Another individual pointed out that not having a policy is now a point of ridicule in some communities. He actually laughed at my question and said, “Ahh kujecha zvoosekesa rough kuti ahhh rasta vaichena asi policy dololo, vanhu vave kutambura kuvaviga” another statement that means people are now laughing at people without policies saying they prioritized trivialities instead of planning their life properly. ” the reason why some of us still dont have life assurance policies is because we dont want to part with our hard earned dollar preparing for death, after all i will be dead” some chap proudly said ” i only plan for life and not for death” he added. Some of the policies are just out of reach for the ordinary Zimbabwean who is already stressed financially living hand to mouth, an elderly woman acknowledged.
All these interactions made me come to one conclusion, skepticism around life assurance and or funeral policy in so many communities is now a thing of the past. Even in the rural areas, burial societies have become a very common norm that only a few people would want to live without a funeral policy of some sort. Yesterday First Mutual Life In partnership with Zimpost launched yet another funeral plan product, PostLife.
What is Post Life Funeral Cash Plan?
PostLife is a Funeral cash plan which offers a cash benefit upon the death of an insured person. The Funeral cash plan will be distributed by Zimpost the disbursement partner for First Mutual Life, the Funeral Cash plan is underwritten by First Mutual Life. According to First Mutual Life the idea behind launching this product is to go a long way in enhancing financial inclusion amongst the population of Zimbabwe particularly the underprivileged poorer rural communities.
The product is designed to cater for everyone in both urban and rural settings, irrespective of whether they are formally employed or not . The plan has the following conditions:
- No age limit for the principal member
- No age limit for the principal member’s spouse or his/her biological dependents with particular reference to children and parent
- At entry non-biological dependents will have an age restriction of 75
What do PostLife premiums looks like?
Some people pointed out, that its very difficult to keep up with these policy payments because dispensable income have become a thing of the past these days in many homes and families. Im sure that is the same thought that First Mutual Life and Zimpost had in mind when they partnered to create PostLife. Below is a table for entry level premium rates for up to 65 years.
| Post Life Cash Plan Name | Cover/Sum Assured | Monthly Premiums per Person: Adults | Monthly Premiums Per Person: Children |
|---|---|---|---|
| P-Micro | $500 | $0.80 | $0.40 |
| P- Median | $1000 | $1.60 | $0.80 |
| P- Premier | $2000 | $3.2 | $1.60 |
| P-Executive | $3000 | $4.8 | $2.40 |
The premiums are different for those that are aged 66 going up and this table shows the premiums for those aged 66 and above.
| Age | Sum Assured $500 | Sum Assured $1000 | Sum Assured $2000 | Sum Assured $3000 |
|---|---|---|---|---|
| 66-69 Years | $4.80 | $9.50 | $19.00 | $28.50 |
| 70 Years | $7.00 | $14.00 | $28.00 | $42.00 |
| 71-74 Years | $7.00 | $14.00 | – | – |
| 75-80 Years | $10.50 | $21.00 | – | – |
In conclusion, PostLife is affordable and flexible, one needs strong reasons not to consider it. let us know in the comments below what you think about PostLife Funeral Cash Plan.
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6 comments
I don’t think your naivety with regards to funeral policies is shared by many. I laughed when I read that you believed having a funeral policy invited death. I think you have generalised scepticism that’s specific to you (and your rural area perhaps).
Really guy! That’s all you got from the whole article?
That’s the title and thus the main point of the article, is it not? What did you get from it?
You sound like you are literally confusing a Life Policy to a Funeral Policy. Policy yekuviga mufi inonzi Funeral policy, it provides for the assured’s funeral (and related expenses such as memorial services). A Life Policy however, is designed to maintain the life of the deceased’s dependants, like take care of my kids when I’m gone. Potai muchiita research on these terms musati manyora lest you risk to mis-inform your readers..
agreed! I also expected to see monthly payments to dependants after one’s death not this funeral policy. What is $3000 post death?
$3000 is for the funeral guys. Its a funeral policy that caters for expenses on the funeral, If you want money for post funeral thats when you apply for Life cover. I am still to come across affordable life cover in Zimbabwe. It should be a service that is accessable to everyone, but its expensive. If anyone knows of affordable life cover with a reputeable underwritter please let me know.