By Lwazi Dlamini
The Swaziland Building Society has launched a lucrative Litsemba Group Funeral Plan which can cover as many as 22 family members aged 180-85 for up to E20 000.
The enhanced funeral plan was officially unveiled during the launch held at the Society’s headquarters on Wednesday by the Managing Director Mbali Sibanyoni alongside representative from the underwriter, Eswatini Royal Insurance Corporation (ESRIC).
Sibanyoni said the Litsemba Funeral Plan is not necessarily a new product, but it is now enhanced with more benefits to suit their customer’s everchanging needs.
“It is an honour to be gathered here today to launch yet another important product to our valued customers. As the SBS we are excited to unveil the Litsemba Group Funeral Plan.
As most of us are aware, Litsemba in Siswati means Hope. With this product we want to provide our customers a peace of mind and their loved ones.
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Death is a painful and stressful period and in the unfortunate event of death, one does not need to have to bear the heavy burden of funeral expenses.
We all know that death often comes unexpectedly and when we are least prepared financially,” she said.
She said as SBS, they always strive to improve their products and services to exceed clients’ expectations.
“Before highlighting what the funeral plan entails, I am happy to note that our product underwriters, ESRIC, are present here today to shed more light.
To be eligible for the funeral plan, one needs to hold any saving or transactional account with the Society. This enables seamless payments of affordable premiums by stop order,” she said.
Sibanyoni said the plan covers even extended family members and comes with a tombstone benefit that is optional.
“It allows the policyholder to add extended family members, who may include parents, siblings, uncles, aunts, nephews, nieces, domestic workers and anyone dependent on you.
You are permitted to include up to 10 extended family members, who are below and above 65 years old,” she said.
The MD added: “I am optimistic that this funeral plan will enable our customers to provide dignified and memorable send-offs for their loved ones.
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It will also ensure the policyholder a peace of mind and a healthy mental wellness”.
SBS Head of Distribution Channel, Phumlani Nkambule explained that the enhanced Litsemba Funeral Plan came because of continuous engagement with their clients.
He said at an available E16 per month, you can cover extended family members aged 18-85 up to E20 000 with the policy holder receiving a minimum of E5 000 and a maximum of E50 000.
“The waiting period is six months and previously you were eligible up to 65 years old but now it is 85 years old. You can cover children up to 21 years unless he or she is a student, up to 25 years,” Nkambule said.
