Octagon Zambia Insurance Brokers unveils KuKhuza Funeral Policy to Alleviate Financial Burdens During Times of Loss
Octagon Zambia Insurance Brokers (OZIB) (subsidiary of Octagon Financial Services Limited) is proud to announce the launch of KuKhuza funeral policy, a comprehensive solution tailored to meet the diverse needs of the Zambian market. The introduction of KuKhuza marks a significant milestone for Octagon Zambia as it extends its commitment to providing guaranteed financial security to individuals and families across the nation.
KuKhuza Funeral Plan is all-inclusive as it also caters for all individuals who do not earn their salaries through the banks, that is; the unbanked. It also caters for contract and part-time workers as well as entrepreneurs and small business owners. KuKhuza Funeral Plan will also be extended to formally employed who are of contractual age and meet the underwriting requirements for Funeral Cover by the insurance wing – OZIB.
Funerals are deeply rooted in Zambian culture, often accompanied by the tradition of costsharing among communities. Recognizing the importance of offering practical solutions during times of loss, KuKhuza provides pre-planned coverage, alleviating the burden of collecting pledges and ensuring peace of mind for policyholders and their loved ones.
“The launch of KuKhuza represents a natural progression for us as we continue to expand our reach and impact in Zambia,” said Mr Charles Mate, Board Chairman of Octagon Financial Services Limited Zambia and Octagon Zambia Insurance Brokers. “While discussions about funerals may be considered taboo, it’s a reality we all face. KuKhuza allows us to make a tangible difference by offering financial security and stability when it’s needed most.”
At the same event – Pension and Insurance Authority Deputy Registrar, Dr Brian Machinshi emphasized the importance of empowering clients to plan for the future. “KuKhuza is more than just a policy; it’s a testament to cater to a diverse range of individuals as well as extend financial protection to a broad spectrum of society. This inclusivity perfectly aligns with the Authority’s vision of ensuring that insurance services are accessible to all segments of our population.”
Monthly payments for the KuKhuza Funeral Plan range from as low as K95 with benefits up to K500,000 for the policy member and immediate family and as low as k161 with benefits of up to K200,000 for their extended family (2 parents and 2 parents-in-law).
A funeral policy provides financial security for your loved ones, ensuring that they will not haven to bear the cost of your funeral expenses. This can be a huge relief during an already stressful time as well as ensures that the cost of funeral is covered, regardless of how much prices may increase.
Octagon Zambia Insurance Brokers continues to roll-out insurance solutions that seek to promote financial inclusion through customized insurance products for diverse individuals, encompassing the unbanked, contract workers, entrepreneurs, and small business owners.
By offering accessible and affordable funeral plans such as KuKhuza, Octagon Zambia contributes significantly to enhancing financial resilience and security for all members of society in times of distress.
