Old Mutual Life Assurance Company has launched Timba Plus -a funeral plan covering parents.
Speaking during Three Anchors programme on Times Television and Times Radio, Old Mutual Group Chief Executive Officer, Edith Jiya, said Timba Plus is a response to customers’ feedback on Timba Family Plan, a product that was launched last year.
“The Timba Family Plan is a product that one buys to cover oneself, spouse and children in that particular family. When we launched it, there was a lot of interest on the market and we also received a lot of feedback that necessitated that we extend the cover not only to the immediate family but also to their parents and their parents’ in-law, biological or nominated” Jiya said.
She said Old Mutual understands the expectations of different cultures when unexpected life events happen; hence, the swift response to the customer needs.
“Our culture expects us to take care of the final journey of our loved ones and people do not mind your financial stand when things happen; they only expect you to take care of everything and it becomes more difficult to take care of things when they are family,”
“It is good to note that Malawians are now getting prepared so that they do not have a shock in their financial wellbeing when such unpredictable events happen,” she added.
The launch was characterised by a walk from Old Mutual headquarters in Blantyre to College of Medicine (CoM) Sports Complex where hundreds of people took part in a three-hour aerobics session.
Jiya said the product was launched under a fitness theme, bearing in mind that fitness contributes to productivity and, in turn, financial stability.
One of the clients who attended the launch, Doreen Masamba, described the product as timely, saying it resonates well with this generation’s needs.
“The generation that we are in is a generation of exercise. If you are fit, you save your money and this initiative by Old Mutual is quite refreshing,” Masamba said.
Another client, Victor Jere, hailed Old Mutual for the fitness theme under which it launched Timba Plus.
“Health is a part of your wealth. If you invest in your health, you are guaranteed that all your other endeavours in life, like your job or business, will also work,” Jere said.
Timba plus is the first funeral scheme on the market covering the extended family at different levels depending on one’s ability to pay.