Sunday, May 26, 2024

Standard Bank enhances Funeral Plan cover

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By Michael Nasiyaya

Standard Bank Plc has announced improvements to its Funeral Plan cover by extending the offering to Malawians in the diaspora and introducing the additional benefit of tombstone cover on its new VIP and Diaspora plans.

The latest improvements to the offer emphasize Standard Bank’s commitment to serve customers throughout all stages of life, including during the unfortunate demise of an insured member or any dependent covered under a funeral policy. The “Last Mile to Lasting Memories” cover is replete with a tombstone after a year of the funeral and extends to the bank’s customers in the diaspora.

Charity Mughogho, the Executive Head of Personal and Private Banking said the improved funeral plan offer comes in three new packages of Premium, Diaspora Gold and Diaspora Platinum and is offered in partnership with Nico Life.

“Our funeral plans aim at relieving bereaved families of the financial burden of managing a funeral and the subsequent tombstone cost at the one-year anniversary.

The Bank is also aware that for most Malawians it is customary to erect a tombstone at the one-year anniversary and we want to walk every step of the journey with our clients hence the addition of tombstone at this significant milestone,” she said.

Mughogho said the improvements to the Funeral Cover speak to the bank’s commitment to provide a holistic service to customers beyond daily financial transactions.

“We realize that after the last mile for our insured clients and their dependents, the remaining family members are left with the obligation to build a befitting final resting place for their loved one which includes a tombstone that provides full dignity and preserves fond memories.

This cover has been designed to cater for this need, while converging all customers groups in Malawi and abroad,” she said.

Mughogho said Standard Bank fully appreciates the emotional strain and logistical hurdle families face when repatriating the remains of loved ones.

The two new Diaspora Funeral Plans (Diaspora Gold and Diaspora Platinum) come with higher limits to make repatriation easier for bereaved families.

The improvements to the funeral cover are testament to the Bank’s dedication to providing innovative and comprehensive solutions for Malawians both home and abroad, she said.

The Premium and Diaspora Funeral Plans are an addition to the suite of the bank’s funeral packages designed to cater to the special needs of customers seeking a complete and dignified farewell for their loved ones.

“The Premium Funeral Plan stands out as a comprehensive offering, tailored to provide an elevated level of support and comfort during a challenging period.

“With our unwavering commitment to customer-centricity, Standard Bank has accurately designed this plan to offer not only financial coverage but also personalized assistance to bereaved families,” said Mughogho.

The premiums range from MK1,400 per month for Mtendere Funeral Plan for a family of up to eight members to the newly enhanced top of the range Premium Plan at MK30,000 for six members and Diaspora Funeral Plans.

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