FINCORP, in collaboration with FINSURE, Launches Sambulelo Funeral Cover
By Taonga Nkatha
FINSURE Assurance, a subsidiary of the Eswatini Development Finance Corporation (FINCORP), has officially launched its latest product, the Sambulelo Funeral Cover, in a ceremony held at FINCORP’s Rooftop on Thursday.
The ceremony, attended by FINCORP Group Managing Director Dumisani Msibi, represented a significant advancement in the Group’s commitment to expanding financial access and delivering development-oriented solutions to the citizens of Eswatini.
During his address, Msibi underscored FINCORP’s objective of establishing a comprehensive resource for Micro, Small, and Medium Enterprises (MSMEs), while also addressing the needs of individuals and communities.
“Funerals are not only moments of grief but also times of immense financial strain for families and many families. Sambulelo is our response, providing an inclusive, adaptable, and readily available solution.
We are committed to ensuring prompt and immediate disbursements upon claim approval. We assure you that this plan is designed to be affordable for all,” he stated.
Chief Insurance Officer, Nozipho Dlamini emphasized that the Sambulelo Funeral Plan is tailored to accommodate the varied circumstances of the populace of Eswatini.
“Our core value rests on inclusivity and ease of access, irrespective of whether you are an SME owner, a sugarcane grower, or a street vendor. This plan can be modified to suit your specific needs and financial circumstances,” she explained.
Key aspects of the Sambulelo Funeral Plan include:
*Coverage choices for individuals, immediate family members, and extended family members.
*Coverage amounts from E5,000 to E50,000, with senior citizens eligible for coverage up to E10,000.
*Coverage for children up to age 21, extended to 25 for students, and throughout their lives for those with permanent disabilities.
*Claim settlements processed within 24 hours or less.
*Affordable group coverage available for 20 members or more, reflecting Eswatini’s community values.
The plan provides adaptable payment options, structured to correspond with the income schedules of various client demographics. “We are not dictating a plan, but delivering a vital solution structured in line with the needs of our communities,”. Dlamini affirmed.
Standard exclusions apply and include:
*Death by suicide within 24 months of policy inception.
*Death resulting from exclusions detailed in the policy documentation, including:
*Active involvement in war, warlike actions, civil conflict, or rebellion constituting a widespread uprising.
*The utilization of nuclear, biological, or chemical weapons, or any radioactive contamination stemming from them.
Any attack or sabotage targeting facilities and storage sites that results in the discharge of radioactivity or nuclear, biological, or chemical warfare agents.
Requirements for group onboarding:
*Group Policies:
1. Certificate of incorporation/constitution/ registration license/etc.
2. Entity’s proof of physical address.
3. Signed application form.
4. List of covered members with their identification numbers.
5. Identification documents of directors/authorized signatories.
6. Proof of physical address for directors.
*Individual Policies:
1. Signed application form.
2. Identification document of the insured.
3. Bank statement of the insured for debit order clients.
4. Pay slip of the insured for source deduction clients.
5. Proof of residence of the insured.
6. Proof of birth certificate.
* Required Documents for Claim Submission (Certified Copies):
1. Identification document of the deceased.
2. Death Certificate.
3. Medical certificate verifying the cause of death or a letter from the local authority (Umphakatsi) if death is not medically certified.
4. Confirmation letter from the mortuary housing the body of the deceased.
5. Identification document of the beneficiary.
6. Bank statement of the beneficiary.
As FINCORP approaches its 30th anniversary in April 2026, the introduction of Sambulelo underscores the Group’s enduring strength and creativity. FINCORP presently maintains a 73% market share in the national credit sector and is strategically positioning its divisions, FINSURE Assurance and First Finance Company to promote enhanced financial inclusion across the nation.
