Consumer education

18 September 2020 | People

Ndangi Katoma



8 things you need to know about Old Mutual’s new funeral insurance.

If you are the breadwinner in your family, the day may come when your phone rings and you are called upon to open up your heart and your wallet simultaneously.

How many of your family members would reach out to you first when there is not enough money to cover a funeral? If you happen to be the ‘go-to’ guy or gal in your family, forking out over N$200 000 for various family funerals over the course of your life might not be an over-exaggeration at all.

Can you really afford this? What impact will it have on your own short-term and long-term saving ambitions?

Old Mutual has just launched a brand-new personal cover solution, and it’s built on the principle that no two people are the same and neither are any Namibian families.

Old Mutual’s new funeral insurance offers two simple products: Old Mutual Protect Family Funeral Cover, and Old Mutual Protect Extended Family Funeral Cover. Both offer a range of great benefits, but the difference between the two is simple.

Protecting all families

The Family Funeral Cover is for your immediate family, like your partner/spouse, dependent children nominated children and grandchildren. The Extended Family Funeral Cover caters for the really big families. You can cover up to 22 people and an unlimited number of children. You’ll be in a position to add siblings, parents, in-laws, and even other family members like aunts, uncles, nieces, nephews and grandparents to your policy.

You can get cover of N$50 000, which goes up to N$100 000 if you answer a few health and lifestyle questions and you are healthy. You get up to 30 days’ cover before you even pay your first premium. Your claims are paid out as a single amount and are completely tax-free.

Old Mutual aims to pay valid claims within 24 hours. You can also add a cashback benefit to your policy so you get money back every five years on the cashback anniversary. And you can take a six-month premium holiday if you need to.

Meanwhile, you can add a double accidental death benefit to your policy. So, if you pass away in an accident, your beneficiaries will receive double the amount you were covered for. If you add a Monthly Grocery benefit or a Monthly Education benefit, we will pay up to N$2 000 per month out to your beneficiaries for 12 months after you die, so that they can pay for groceries or education costs while your estate is being finalised. You also have the option to add a Funeral Paid-up benefit, so that if you become disabled, turn 64 or die, your premiums stop but your cover continues for your family.

You know your family best, and that’s why it’s up to you to choose the right cover for you and your family, plus any extras you need. Your ability to choose was at the forefront of thinking when Old Mutual designed the new insurance range because, with 100 years’ experience in the business, Old Mutual truly understands that no two people or families are the same.



*Ndangi Katoma - Executive : Marketing, Communications and Customer Strategy, Old Mutual*

Similar News

 

Young, Wild and Free Nikhita

1 day - 20 October 2020 | People

Ester Kamati “I am unique because my journey is unique, my experiences in life, my thoughts, my words, and my actions make me unique.”Known for...

Brand comes on board as procurement policy head

5 days ago - 16 October 2020 | People

Monique Adams Born in Windhoek in 1984, Francois Brand attended Suiderhof Primary School and completed his matric at Windhoek High School. He then moved...

Penetrating a male-dominated career

5 days ago - 16 October 2020 | People

MICHELLINE NAWATISESPaulina Kornelius was born and raised at a village called Ombwana in the Okalongo constituency in northern Namibia. She holds a bachelor’s degree in...

Interior design redefined

5 days ago - 16 October 2020 | People

Michelline Nawatises If there was anything the lockdown has taught us was to appreciate the spaces we live in, and create memories with our loved...

Onesmus Shithigona is Debmarines geo-gem

5 days ago - 16 October 2020 | People

MONIQUE ADAMSOnesmus Shithigona is a soft-spoken introvert who enjoys travelling, a sports fanatic and a lover of Namibian music. Shithigona joined Debmarine Namibia in 2007...

Invest in your success

5 days ago - 16 October 2020 | People

MARISELLE STOFBERGThe vibrant Lizette Smit believes that in order for one to grow, you need to move outside your comfort zone and push yourself beyond...

Chasing the dream

1 week ago - 13 October 2020 | People

Enzo Amuele WINDHOEKAutomotive engineering requires many building blocks and tools. To produce real-world results, one must practically apply mathematics and sciences to tangible problems...

Chasing the dream

1 week ago - 13 October 2020 | People

Enzo AmueleAutomotive Engineering requires many building blocks and tools. To produce real-world results, one must practically apply mathematics and sciences to tangible problems and scenarios.Katjikurupa...

Be true to yourself

1 week ago - 13 October 2020 | People

Octavia TsibesEvery person has a shell. Without this shell, one cannot live. It protects us from the outside, the people, the environment and most importantly,...

New principal for KSS

1 week ago - 13 October 2020 | People

Leandrea Louw WALVIS BAYKuisebmond Secondary School (KSS) welcomed a new principal, Jonathan Mashawu (38), after Sedekia Gottlieb retired earlier this year. Mashawu was a biology...

Latest News

Covid kicks Shiimi in the...

1 hour ago | Ministries

OGONE TLHAGE WINDHOEKThe Covid-19 pandemic has sucked government coffers dry and hit state revenue streams by nearly N$5 billion, thus exerting pressure...

Seven apprehended for wildlife crimes

1 hour ago | Crime

ELLANIE SMIT WINDHOEK Seven suspects were arrested for wildlife-related crimes in five separate cases recently, of which three are new cases registered...

Unemployment drives youth into electoral...

1 hour ago | Opinion

Yesterday, the Electoral Commission of Namibia (ECN) announced that a whopping 93 independent candidates have been registered to contest in the upcoming regional council elections.In...

APP takes aim at NamWater,...

1 hour ago | Politics

Kenya KamboweRUNDU The All People's Party (APP) says NamWater and the country's various regional energy distributors (REDs) are making a fortune off local authorities,...

Teacher makes extra income from...

1 hour ago | Agriculture

STAFF REPORTERWINDHOEKFarming activities can become an extra income for many Namibians.A science teacher at the Oshilungi Combined School, Anneli Mutumbulwa, chose not to depend on...

Agriculture still feeling the pinch

1 hour ago | Agriculture

ELLANIE SMITWINDHOEKMeasures put in place to prevent the spread of the coronavirus caused disruptions in food chains in Namibia, which in turn posed a threat...

Don't judge on the basis...

1 hour ago | Opinion

TONI HANCOXThe Legal Assistance Centre (LAC) objects to any characterisation of Namibian voters by race or ethnicity. Not all white voters have the same opinions,...

Use of 'war' in electoral...

1 hour ago | Opinion

SOPHIA SHANINGWAOn 17 October 2020, the president of the Swapo Party, Comrade Hage G Geingob successfully launched our campaign for the November 2020 regional and...

What a time to be...

1 hour ago | Sports

LIMBA MUPETAMIWINDHOEKThe year 2020 has been exceptional for Namibian international Peter Shalulile as he not only jointly won the PSL Golden Boot with 16 goals,...

Load More