Staff Reporters
From providing education cover for the members’ children, and providing key burial services like cremation to paying monthly annuity income to members’ dependants, these are some of the added value propositions from Alliance Insurance’s newly revamped funeral cover, U-Mang Legacy Funeral Cover.
The company, which boasts more than 30 years of experience in innovative risk and wealth management solutions, has consolidated its initial U-mang Funeral Cover following its launch in 2017.
“The new and improved U-Mang Legacy funeral cover allows clients to cater for a variety of their critical financial needs allowing them to live better and to leave a true and lasting legacy for their loved ones,” the company said during a recent re-launch.
Mahlohonolo Lebina, the Chief Executive of Alliance Insurance Company speaking at the launch said the improved funeral plan is more than just a funeral policy, as it comes packed with a wide range of benefits for their beloved clients.
“The new and improved U-Mang Legacy funeral cover is the first insurance product of its kind in Lesotho. This policy is much more than a funeral policy, it allows our members to invest and benefit from the power of compound interest, take up policy-backed loans, buy additional top-up cover at relatively lower premium rates, provide education cover for their children, receive monthly annuity income for 24 months to support dependents and many more,” Lebina said at the launch.
Among notable key features of the revamped policy is that it covers new members up to the age of 84 years, and covers the entire family including parents, grandparents and other dependent relatives.
“The Molebe benefit which guarantees full cover continues for free for all lives insured on the policy if the main member passes away, becomes permanently disabled or they reach the age of 65.”
It also has educator benefits of up to M75 000 to cover up to three children which includes tertiary education fees if the main member passes away. The policy comes with an investment account which earns compound interest and provides members with the option to take loans.
It also returns of two out of every 12 premiums received, paid back to the client every five years. There is also the My Provider Benefit which pays monthly income benefits to dependents for 24 months to help cover their living expenses after the passing of the main member.
The policy also has a premium holiday (waiver of premiums) for up to three months following the retrenchment of the main member.
It also comes with quality burial services by Lehae Funerals including cover for coffins, tombstones and repatriations; and utility vehicle for three days, for the family to use towards burial preparations.
“This funeral cover reflects our understanding of how challenging and overwhelming it can be to arrange a funeral for loved ones, and hence the cover includes options to buy quality burial services providing: burial service, coffins, tombstones, repatriations, cremations, etc at our pioneering Lehae Funerals which now provides services country wide,” Lebina further added.
On his part, the Chief Executive of Alliance Group Investment Holdings Company Limited, Angus Yeats said:
“Our clients are at the heart of all that we do, and this is why we continue to put their needs and experience first. With U-Mang a portion of every premium received is ploughed back into community development initiatives. As our motto “Always There for Basotho” states; we will be there even in the most difficult of times. This is our legacy for Basotho, who have made us what we are today”.
