Life is full of uncertainties, but two things are guaranteed: death and taxes. While we cannot escape either, we can certainly prepare for the financial implications of the former. As a financial services provider, ZB Financial Holdings understands the importance of planning ahead to protect loved ones during life’s most difficult moments.
As the Life Insurance arm of ZB Financial Holdings, we provide comprehensive life assurance solutions that safeguard the financial future of individuals and groups. This article highlights two of our key offerings: Cash Funeral Cover for individuals and Group Life Assurance (GLA) for employers.
Solution for Individuals: Cash Funeral Cover
Cash Funeral Cover is a policy that pays cash directly to beneficiaries upon the death of the insured, ensuring that funds are readily available at one of the most emotionally and financially challenging moments in life.
In Zimbabwe, funerals have evolved into significant events that reflect the cultural values and norms of both the departed and the bereaved. While many families may already have funeral services policies, unexpected additional expenses often arise. Cash Funeral Cover complements existing arrangements by providing flexible cash to cover unforeseen costs and ensure a dignified send-off.
For less than a dollar, individuals can secure cover for themselves and their dependents. This extra financial support allows families to focus on grieving and celebrating a life lived, rather than worrying about money.
Cash Funeral Cover provides peace of mind by ensuring immediate financial support when families need it most.
Solution for Employers: Group Life Assurance (GLA)
As employees, we work to support our loved ones and families. Group Life Assurance is a “death-in-service” benefit, meaning that when an employee passes away while in employment, their family receives financial compensation.
The amount of cover is typically expressed as a multiple of the employee’s annual salary , usually between two and four times, or as a fixed sum. GLA policies can also include riders such as Critical Illness, Permanent and Total Disability, and Accidental cover, offering even broader protection.
Benefits of GLA to Employees
- Premiums are paid by the employer, making it an attractive employee benefit.
- Financial security for families in the event of a member’s death.
- Peace of mind knowing loved ones are protected.
- Tax-free benefit of up to twice the employee’s annual salary.
- Automatic enrolment with no medical exams below the free cover limit.
Benefits of GLA to Employers
- Ability to attract and retain high-quality employees.
- Affordable premiums due to collective risk pooling.
- Enhanced employee morale and workplace loyalty.
- Demonstrates commitment to employee well-being.
ZB offers affordable, tailor-made Group Life Assurance solutions for organisations across all sectors, from Mining and Manufacturing to Agriculture, Financial Services, and NGOs.
At ZB, we understand the risks employers face in safeguarding the well-being and security of their workforce. That is why we provide flexible life assurance solutions designed to protect employees and their families.
