ALLIANCE Insurance this week unveiled its latest product, the U-Mang Funeral Scheme which seeks to cater for the different needs of clients.
Alliance Business Development Manager, Motjope Mokhathi, said the funeral scheme was borne of the realisation of the need for a specialised policy that addressed different needs rather than forcing clients to settle for a uniform product.
“This life insurance fills the gap between your financial needs and your financial reality,” Mr Mokhathi said on Tuesday.
“As a local company, we understand the struggles of our clients better than our counterparts, hence our insurance policies are specialised.”
He also revealed that the policy gave clients the opportunity to develop their districts since a certain percentage of their premium would be used for developmental purposes in their towns.
“This policy is not for profit but we are giving back to Basotho for their continuous support,” he said, adding policy holders would also receive tents, a table and chairs, airtime and an accidental death benefit.
He further revealed that there were paid-up benefits which guaranteed that the beneficiaries of the policy would remain covered in the event that the policy holder dies or reaches the age of 65.
He also said there would also be a cash back bonus for each year of cover irrespective of whether the client claims or not, and two months premiums would be returned as a token of appreciation of loyalty in the fifth year of the policy.
The policy also covers the repatriation of bodies since many Basotho work outside the country.
“With this benefit, Alliance will arrange for the remains of your loved ones to be brought home, whether the death occurs in South Africa or further than 100kms from the place of burial within the country,” he said.
The policy also has a live cow voucher of M7000 that can be redeemed in the form of a cow from affiliated cattle farmers or for cash.
It also covers grocery for two months to guarantee food on the table for the bereaved.
The U- Mang policy is categorised into the following 10 districts: Matlama (Maseru), Linare (Leribe), Melele (Qhacha’s Nek) Seoli (Berea), Liphakoe (Quthing), Sekila (Butha-Buthe), Lenjantja (Mohale’s Hoek), Lekaota (Mafeteng), Selala (Thaba-Tseka) and Melebe (Mokhotlong).