THE Mpate Sheleng Funeral Cover, which Vodacom Lesotho (VCL) and Alliance Insurance launched this week, stands out as the best funeral cover due to its affordability and convenience.
June 7, 2023
3 min read
VCL, Alliance launch low-cost funeral cover
Vodacom Lesotho VCL, Mohale Ralebitso
Metro Audio Articles
Catch our weekly audio news daily only on Metro Radio Podcast News.listen now
The product's starting premium amount varies, depending on user preferences, from M3.75 per week for prepaid users to M140 per month for hybrid customers.
The holder and their family are the two groups under cover.
This ensures that VCL clients can access the business's wide range of commercial items as well as the solace and security of burial insurance for mental and emotional stability.
Customers will receive money to use however they see fit to provide a dignified send-off for their loved ones.
According to Mohale Ralebitso, the Chief Executive Officer of VCL, the digital initiative targets individuals and members of their families between the ages of 18 and 60.
He said as the world advances in terms of concerns relating to digitalisation, Basotho should not be left behind.
For M3.75 per week, clients can, for example, receive M10 000 in coverage at the time of death; the amount doubles in the event of an accidental death.
Customers who pay M18 per week will receive a M50 000 protection sum guarantee, while those who pay M15 per month will receive a M10 000 guarantee.
Along with client budgets and the sort of death, the cover amounts expand as premium amounts climb as well.
Ralebitso is confident that the newly introduced product will live up to expectations, in contrast to other similar initiatives that routinely fall short of expectations.
“It is our duty to ensure that the product meets expectations and performs flawlessly. During trying circumstances, you should have one less thing to be concerned about. Businesses may advertise these products yet fall short when it comes to refunding customers' money.”
As the new item was unveiled this week, Ralebitso reassured that it would prevent such incidents from occurring.
Enjoy our daily newsletter from today
Access exclusive newsletters, along with previews of new media releases.
Alliance Insurance Chief Operating Officer, ’Malengolo Sello, said her company joined the partnership as the underwriter, adding that one of the product's key advantages is that customers will not have to pay anything to use it, unlike with other comparable products where customers must leave their houses to pay for services. “This product is approved by the Central Bank of Lesotho (CBL) under insurance regulations, and this is the assurance that customers will not struggle when it is time to make a claim,” Sello added.
The Mpate Sheleng Funeral Cover has a four-month waiting time for natural death; however, there is none for accidental death because clients get an immediate reward for twice as much as the first cover's value.
The waiting period for a suicide death is two years.