THE First National Bank of Lesotho (FNBL) on Tuesday launched its first funeral plan called Bokamoso, which will provide cover for people up to the age of 85 years.
This first of a kind bancassurance funeral cover was launched at FNBL headquarters and services will be provided in all branches countrywide.
Speaking at the launch, the FNBL Head of Insurance, Kefuoe Ramokhele said the Bokamoso Funeral Plan is exclusively for the bank clients and can cover up to 16 people on one plan. To qualify for this plan, he said, clients must be between the ages of 18 and 65 and can pay up to M152 000.
“As FNB we have a slogan that says, ‘How can we help you’ as we always think of our clients and how we can make their lives better and financially comfortable,” Mr Ramokhele said.
This product has been tailor-made specifically for our clients to be protected when death occurs. Death is a fact of life because it affects everyone but unfortunately, in most cases money is not readily available when it happens.
“Although, it is only for our FNBL clients, everyone who decides to open an account with our bank will automatically qualify for the funeral plan,” He further explained for clients to get cash back after five years, they are required to diligently pay their premiums every month, which starts from M37.”
“A single plan can cover 16 people including the client, their spouse, six children, four parents, in-laws and four extended family members not older than 85 years. You can get minimum cover of M10, 000. We are very excited about this plan.”
Mr Ramokhele also said the cover comes with the benefit of clients getting their premiums back after every five years as well as a family care benefit of 12,000 paid upon the death of the main member.
“The cash back will come with the option of either taking cash or investing it with FNBL. The family care benefit is designed to take care of those that are left behind. The waiting period is three months and six months for family members and extended family,” Mr Ramokhele said.
“There is also an accidental death benefit, where our clients can receive double their full cover with the main member getting an additional M12 000. In such cases, there is no waiting period even for our clients who would have just joined the plan.”