- Waiting period for claims reduced from 6 to 3 months for natural death
- Entry age for policyholders down from 21 to 18 years
- No waiting period for accidental death under the partneship
- Waiting period for suicides down from 24 to 12 months
Funeral Services Group (FSG) has officially launched its partnership with Hollard Botswana that combines insurance and funeral services for considerable benefits for customers.
Through the partnership, the two service providers say they aim to create a seamless experience that alleviates the burden on families during times of grief. Speaking at the media launch of the partnership and new product offering, FSG Head of Sales, Tebogo Moribame- Setiko, noted that over the last two years, inflation has caused a significant rise in prices of all commodities, goods, and services and has ultimately eroded the benefit value of funeral products and services.
Holistic review
โTherefore, FSG and Hollard Botswana undertook a holistic review of our product offering so that an affordable and dignified funeral can be afforded to families,โ Moribame-Setiko said.
The enhanced funeral insurance product offers increased benefits at a minimal increase in premiums, she added. Some of these enhanced benefits include an increase in the total value of funeral benefits, including cash, a premium waiver for the principal member for the continued cover of dependents after death, and a 10 percent no-claim bonus, which gives a cashback on all policies without a claim for 5 years.
Moribame disclosed that the age of entry for policyholders has been reduced from 21 to 18 years, catering to a new market of working young adults. Another notable is reduction of the waiting period for claims from 6 months to 3 months for natural death, for suicides from 24 months to 12 months while there is no waiting period for accidental death.
Care and dignity
Also speaking at the launch, the Managing Director of Hollard Life Botswana, Tabuya Tau, noted that the general insurance provider has built a reputation around its passion and commitment to creating lasting relevant partnerships.
โHollardโs purpose is to enable more people to create and secure a better future by achieving exceptional, sustainable, and inclusive growth and by treating everyone with care and dignity,โ she said. โOur partnership with FSG is a testament to that. Our team of experts collaborated and worked tirelessly to design comprehensive and customisable funeral plans that provide peace of mind for all our clients.โ
