Diaspora Funeral Cash Plan expands to Zambia

Spread This News

ZAMBIA’S Madison Life Insurance Company (MLife), one of the country’s leading providers of life assurance, has announced the launch Diaspora Funeral Cash Plan, the first of its kind in the country.
Targeted at Zambians and their families living abroad, as well as foreign nationals living in Zambia, the Diaspora Funeral Cash Plan is a flexible and convenient policy that helps to meet funeral costs and/or repatriation of the body back to Zambia, or conversely repatriation to the respective country of origin or preference for a foreign national who dies in Zambia.
MLife, a subsidiary of Lusaka Stock Exchange-listed Madison Financial Services (MFS) said the new policy aims to put an end to the inevitable financial dilemma that comes with administering the funeral of a loved one who dies on foreign soil.
“Death has the knack of shocking people at the most unguarded moment. It befalls us all in the most unplanned and unpredicted times,” said MLife Managing Director Agnes Chakonta.
“We know from our work places that many families and individuals have had to deal, singlehandedly, with the untold financial pressures and emotional burdens within the Diaspora communities.
“The Diaspora Funeral Cash Plan is structured to deal with this inevitable financial dilemma. With the Launch of the Diaspora Funeral Cash Plan, bereaved families can now at least have a chance to celebrate lives of their departed loved ones.”
The United Stated dollar-denominated funeral insurance scheme has a minimum entry cover of US $1,000 with US $15,000 as maximum.
“The funeral proceeds allow a dignified send-off for the deceased as funds would be immediately available to meet funeral costs and/or repatriation of the body back to Zambia or from Zambia to their country of origin or preference for final resting.
“Admittedly, while family, religious and cultural reasons compel many Zambians in the Diaspora to consider Zambia as their final resting place, majority can hardly afford the financial costs of repatriating bodies at death. This especially given that death comes when least expected,” Chakonta added.
The Director of Diaspora Funeral Cash Plan Dr Sibert Mandega welcomed the development saying, “We are extremely excited and look forward to serving the Zambian diaspora community.Advertisement

“Over the years, we have witnessed the impact of an immediate cash benefit on bereaved families and we are working very hard to avail the product to even more diaspora communities.”
The Diaspora Funeral Cash Plan is uniquely designed as a cash-based funeral insurance policy which offers guaranteed acceptance for all applicants under the age of 75 without any cumbersome and intrusive medical checks or underwriting process on application or at claims stage.
The initial underwriting requirements are deliberately streamlined and tailored to ensure a hassle free claim process which ensures immediate US dollar cash pay out to support bereaved families.
The cover is available 24/7 through the Diaspora Funeral Cash Plan website and interested applicants can also apply over the phone.
Under the Plan, bereaved families will get instant US dollar cash pay-outs on the death of their loved ones along with a range of other benefits targeted at alleviating the financial burden that come with bereavement, especially in the Diaspora.
The guarantee is that within 24hrs of submitting proof of death the cash will be immediately remitted by Telegraphic Money Transfer into any bank account worldwide to provide instant financial relief to bereaved families.
Meanwhile Diaspora Funeral Cash Plan together with the underwriters, Zimnat Life (Zimbabwe) and Mlife (Zambia) are set to embark on a free to attend Meet-the-Community UK Roadshow in three major cities; Hilton Hotel London 17/7/15 @ 630pm, Old Trafford Manchester 18/7/15 @ 12noon and Villa Park Birmingham 18/7/15 @ 6pm.
“It’s a free to attend social and networking event where attendees get to meet Directors from Zimnat and MLife insurance companies,” explained the Diaspora Funeral Cash Plan Spokesperson Roda Williams.
“Some families who have benefited from the cover will also be attending the events telling their stories. There would be tablets and smart phones prize draws and some luck people are set to Win Big.
“For catering logistics all attendees need to register on the website by the 15th July 2015’ she added.”