Kwedu/Ngekhaya funeral plan for Zimbabweans in the diaspora
Zimnat Life Assurance has introduced Kwedu/Ngekhaya, a funeral plan for Zimbabweans living in the diaspora. The plan pays out up to USD60 000 for a family of six for those in countries such as the United Kingdom, United States of America, Australia, Canada and others. It pays to ZAR210 000 for those in Southern Africa.
For a premium of USD23.50 per month, a husband, wife and four children in United Kingdom, United States of America, Australia and Canada are each covered for USD10 000, meaning altogether the benefit is USD60 000. In the event of death, the funds are paid out to ensure funeral, repatriation costs and all services are covered. For those in Southern Africa, for a premium of ZAR189 per month, a husband, wife and four children are each covered for ZAR35 000, with the total benefit being ZAR210 000 which in the event of death, will also be paid out to cater for funeral and travel expenses.
Why do you need this Plan?
An estimated 3 million Zimbabweans are living in the diaspora and many struggle to fund for repatriation and funeral expenses in the event of death and end up resorting to donations and crowd funding for that final journey back home. Zimnat; whose purpose is to make life better, realised the hustle and difficulty that people go through to fund for repatriation, with some resorting to ‘Go fund me’ crowd funding to raise funds. There was also a need to extend the purpose of making life better for all Zimbabweans regardless of where they are in the world, hence the introduction of Kwedu/Ngekhaya.
The plan will enable Zimbabweans abroad to get a solution that gives them peace of mind knowing that they are guaranteed of that final journey back home, where their roots lie and that their family back home is guaranteed of a befitting send off in the event of death.
Kwedu/Ngekhaya Plan Pricing
The minimum cover per person is USD2500 whilst the maximum is USD20 000 and customers are free to choose a cover that meets their needs within the available ranges. For an additional charge, one can add parents and other extended family members.
Premiums for Kwedu/Ngekhaya are payable monthly, quarterly or on an annual basis. The plan also has an option for vigil and tombstone cover, does not have any waiting period in the event of accidental death and no medicals are required to sign up.
The policy can be applied for, online through Zimnat’s self-help web portal, selfcare.zimnat.co.zw. On the same platform, locals in Zimbabwe can also refer friends and family to sign up for Kwedu/Ngekhaya.
Zimnat Life Assurance is part of the Zimnat Group comprising of Zimnat General Insurance, Zimnat Asset Management and Zimnat Microfinance. The group is associated with Sanlam South Africa, the largest non-banking financial services group on the continent. The group is driven by a purpose to make life better.
Asset management is key to long-term financial planning
In an effort to make life better, Zimnat offers services essential for prudent wealth management, from insuring wealth to providing short-term financing solutions and long-term financial planning.
Long-term financial planning is a rich discipline with a myriad of tools. Asset management is one of the key tools at one’s disposal in the quest for long-term financial planning.
The asset manager’s goal is to protect and grow the client’s wealth through investment vehicles in equities, fixed income securities, property and other structured investments. The mysterious science behind it is simply in-depth analysis of economic and political information that allows for efficient allocation of capital.
Pension funds and corporates are usually familiar with the need for long-term financial planning.
Pensioners should be able to comfortably live off the income from their annuity for the rest of their life (if they've put enough money into it). Providing this level of financial security for ordinary people is a pension fund's primary aim and, in the current climate, a serious investment challenge.
For corporates, capital accumulation is important for business expansion. It is required to support the process of establishing new subsidiaries and building them into successful entities that can provide them with a strong return on their investment.
Zimnat Asset Management provides discretionary and non-discretionary investment management and advisory services to pension funds, life assurance companies and corporate companies, as well as high net worth individuals and families.
Each client’s investments are managed according to a specific strategy, which is extensively discussed and reviewed periodically to align the client’s portfolio and investment objectives.
Unlike the entities mentioned above, ordinary individuals are usually not inclined to think in terms of long-term financial planning. When they do, investing and savings are viewed as the same thing.
Savings are part of one’s income set aside in one’s bank account or under one’s pillow or as contributions to a savings club for spending at a future date.
However, investments are savings that generate returns through, for instance, dividends, interest or rentals. Investments, when managed correctly, increase in value over time, allowing one to sell at a profit.
Individual investment contributes to financial security and independence. It allows one to build wealth faster and thereby attain certain goals, such as buying a home, saving for retirement or starting a business.
Ordinary individuals are hesitant to invest, because investment tends to be associated with large sums of money.
Unit trusts are investment vehicles that pool investors’ money into a single fund, which is managed by a fund manager. It does not matter how much an individual investor contributes to the fund pool. It can be as little as $150.
Zimnat Asset Management operates several unit trust funds that offer exposure to money market instruments, quoted equities and bonds.
Management of risk is an important factor in long-term financial planning. It not only considers economic fundamentals but the political environment, international relations, the corporate governance practices of listed companies and changes in investment regulations, as well as the social responsibility of the individual or corporation with the wealth.
Zimnat Asset Management continually assesses client portfolios to ensure they are structured according to the underlying risk appetite of each client, with the ultimate objective of hedging against potential capital loss.
In a nutshell, whether you are an individual or corporation, an asset manager will aid you in achieving your long-term financial goals.
Zimnat Asset Management provides innovative investment solutions aimed at meeting the wide-ranging requirements of its clients.
Zimnat is a diversified financial group made up of four business units, namely Zimnat General Insurance, Zimnat Life Assurance, Zimnat Financial Services and Zimnat Asset Management. It is associated with Sanlam, which is the largest non-banking financial services group on the continent.
For more details contact us on e-mail customercare@zimnat.co.zw or call us on 024‑2707582/3/5/6. Website: www.zimnat.co.zw
Zimnat Offers USD Products
Insurance is a means of protection from financial loss, it is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. This means that whatever value you insure your asset for should be sufficient to enable you to replace it or at the very least purchase an asset of the same level as the one you had. However, the current economic conditions have presented challenges such as inflation and price speculation. In light of this, Zimnat then introduced the option to insure ones assets in US dollars in an effort to make life better for its clients.
In the event of a loss where one has paid their premiums in US dollars the Insurance Company has various options to restore you to your former position. The options include repairing damaged assets, replacing the damaged asset or giving the client cash in lieu of the damages (which will be in US dollars).
Basing values in US dollars hedges against fluctuations in the sum insured. The fact that the US dollar is a relatively stable currency means that the premium one pays will not fluctuate and one can plan for their future payments.
Zimnat General Insurance offers all its short term insurance in US dollar denominations however will continue to offer policies denominated in RTGS value for those who have no access to hard currency. However, where premiums have been paid from an RTGS account, the sums insured will need to be regularly monitored to mitigate against the adverse effects of inflationary pressures in the business environment that lead to underinsurance.
Zimnat, which is one of the country’s leading insurance and financial services companies, has been a leading voice in protecting the assets of those who insure with them. This is in line with its purpose of making life better.
Call 086 7700 4952 or email directbusiness@zimnat.co.zw to find out more or purchase a US dollars policy.
Investors Need To Avoid Market Jitters And Stay The Course
The recent inflation spike coupled with volatility on the parallel market, low interest rates and a hazy economic outlook are just a few ingredients of what seems to be a rather distasteful beverage being served to investors in Zimbabwe.
Media coverage has raised toxicity, fueling anxiety levels through providing endless, sometimes contradictory, commentary on what actions individuals should take, the prize enigma being whether “this time is the same or similar to the previous woes of 2008”.
For one, the character of Mr Market (the Zimbabwe Stock Exchange) has been rather different. Volatility has been fueled by strong perceptive emotions by investors on the course. Being wise to the corrosive nature of currency depreciation has resulted in significant speculative behavior on the stock market, thereby elevating inherent risk levels.
The question now for some is whether to cut losses and get out or perhaps hold onto stocks, maintaining an investment as a buffer or hedge.
With the stock market having risen more than 50 percent this year, just how affordable are these stocks for a local investor whose salary has not increased by this much?
It has become increasingly important, therefore, to ensure that, if one is investing on the stock market, the right stocks are being held in a portfolio.
It is not enough to secure your hard-earned savings by buying “good and strong” stocks. A sure way to lose value is by purchasing great stocks at excessive prices. Without realizing it investors can be stuck in a pattern of panic buying over-priced stocks for fear of losing more value. How does one understand value in this opaque economic climate?
Gains for seasoned investors are not won on daily market oscillations but rather from growth experienced over many years. The economy will eventually settle. So, what’s the right move in this tumultuous environment?
“All intelligent investing is value investing acquiring more than you are paying for. You must value the business in order to value the stock,” advises American investor and businessman Charlie Munger.
Staying the course involves investing in quality stocks at good prices. It negates the need for stock market gambling. Invest in profitable companies with good corporate governance, value addition and potential for growth. Stock prices will eventually reflect the true value of the underlying companies. It is best to own shares in a few select companies that will help to build wealth over time.
This, though, is only one part of the investing equation, since it focuses on just one investment class. We have all heard of the idiom ‘don’t put all your eggs in one basket’. Balancing one’s investment, however, can be quite daunting, especially where you cannot see the price of the investment every day or where a property investment is not visible or listed on a stock exchange.
Fortunately, Zimnat Asset Management is equipped with the right people, skills and tools to safely navigate investment of your hard-earned savings or retirement funds. Accurate interpretation of information by experienced professionals provides a clear advantage in the investment world.
ZAM’s investment services go beyond stock market investments. They include bonds, money market and alternative investments as well. The research team keeps up with market trends and financial news to ensure that clients’ strategies remain on track to achieve long-term growth. This is all part of Zimnat’s endeavor to make life better.
By Rishay Lalla
Have you checked if you are under-insured?
The recent Monetary Policy Statement by the Reserve Bank Governor and the increase in prices in the market have led to speculative behaviour among most suppliers, resulting in an upsurge in property values. Motor vehicle owners and sellers have not been spared this trend.
It is imperative that your assets are insured for the correct replacement value. If they are not, this means they are underinsured, which will result in any claim being reduced in the same proportion as the underinsurance. This is known in insurance terms as applying the average condition.
The whole idea of insurance is to replace your assets in the event of a loss occurring. This means that whatever value you insure your asset for should be sufficient to enable you to replace it or at the very least purchase an asset of the same level as the one you had. If you are underinsured you cannot achieve this, which defeats the objective of having insurance.
Under-insurance can be defined as insuring your asset for a value that is less than the cost of replacing it or of buying something close to it.
For example, if you have a 2006 Toyota Corolla that you valued at $5,000, whereas, if we were to look for that same vehicle in the market we would find it priced at $10,000, you would be underinsured by $5,000. In the event of a claim being made, the average condition would be applied. This means that the amount payable on the claim would be calculated in relation to the difference between the sum insured and the market value.
The following is an example of how a claim is settled in the event of underinsurance:
- Client X insured her vehicle for a Sum Insured of $5,000, although the actual replacement value or market value is $10,000.
- Client X is 50% underinsured, meaning that an average of 50% will be paid on all claims.
- Unfortunately, Client X becomes involved in an accident and to repair the vehicle needs $1,000.
- In such a scenario the Insurance Company will pay $500 of the claim after the 50% average has been applied.
To avoid inconvenience in the event of a claim, we urge you to insure your vehicle and other assets for the correct market value. The best way of determining whether or not your vehicle is insured for the correct value is to go around the market and confirm whether the value of your vehicle is still in line with the prices being charged to replace the vehicle.
For further clarification, please call 086 7700 4952 or email directbusiness@zimnat.co.zw. You can alternatively contact your broker’s office if you are insuring through a broker.
Zimnat Asset Management Customises Investment Management
Zimnat Asset Management (ZAM) provides carefully constructed, individually customised and separately managed accounts. These discretionary and non-discretionary portfolios allow clients to define their own parameters for returns and liquidity based on their risk tolerance, cash flow needs and investment horizon.
A research team holds detailed discussions with prospective clients to establish the desired investment objective, performance benchmark and expected risk/return characteristics, among other requirements.
Critical elements of our separately managed accounts include:
- Risk management: robust analysis of cash flows, debt and corporate governance of the companies underlying the bonds, equities and private equity we invest in.
- Strong structure, thorough set-up and documentation process.
- Adaptability to changing inflation rates and interest rates that are characteristic of the local economic environment given the changing policies.
Our strategy is designed to deliver consistent returns, preserve the principal investment and provide liquidity. This is achieved in the following way:
- The research team regularly meets to discuss the fundamental outlook of the economy, focusing on factors such as Gross Domestic Product (GDP) growth, unemployment and interest rates. Data from a range of internal and external economic sources are compiled and debated by the team and a consensus on them is established. This is then translated into investment strategies, which guide portfolio decisions.
- Periodic reviews of the portfolio and investment guidelines ensure that the portfolio remains relevant for the client’s investment objectives.
- Scenario analysis is used to evaluate portfolio performance in different environments to help determine optimal portfolio positioning across different investment sectors.
- Investment classes include government bonds, corporate bonds, listed equities and private equity.
ZAM provides an integrated approach to client servicing for separately managed accounts. Each client has access to a client service team consisting of the client advisor, who also acts as the portfolio manager, the risk and compliance officer and a client account manager.
The client advisor serves as the key point of contact for the client and manages the overall client relationship. He/she provides strategic advice reflecting an industry perspective and presents insights on investment allocation.
The client advisor is supported by a team of research analysts who continuously assess the economic environment and the portfolio’s performance in line with the market outlook.
The client account manager sets up the client’s account on ZAM’s accounting and client information systems. He/she also responds to day-to-day queries regarding deposits, withdrawals, current account balances and updated statements.
The risk and compliance officer handles all contractual, legal and regulatory issues.
A crucial component in the risk management of separately managed accounts is the role of the custodian. A custodian works alongside the asset manager and is tasked with the settlement, safekeeping and reporting of all investments made.
Managed funds are especially valuable for large investors who have the goal but not the ability or resources to expertly manage their risks and returns.
By Tatenda Makoni
Choosing The Right Motor Vehicle Insurance
With so many insurance companies offering different types of vehicle insurance, buying a car insurance policy for the first time can be an overwhelming experience. You need to choose the best policy to cover your vehicle in the event of an incident.
What we should clearly point out is that as the insurance coverage increases, the premium will also increase. Hence, you should customise the insurance plan to include only the extensions that you need and forego unwanted features.
There are basically five types of cover you can choose from. We will start with the minimum cover.
1. Road Traffic Act (RTA) Cover
This is the most common and basic type of motor insurance. It is the minimum vehicle insurance required under the Road Traffic Act (Chapter 13.11). It is commonly known as RTA Cover (meaning Road Traffic Act Cover).
Third party insurance is compulsory in Zimbabwe. You need it to obtain a vehicle licence from the Zimbabwe National Roads Administration (Zinara). This policy covers liability to a third party who has suffered bodily injury, death or property damage through your fault.
Most vehicle owners obtain RTA Cover simply for licensing purposes but it is a statutory cover that protects other parties and can be claimed against. An insurer is expected to honour such a claim if all is in order.
Cover limits are gazetted at $3 000 for third party bodily injury and $2 000 for third party property damage. It is illegal for any insurance company to sell this cover without actually providing for payment up to those limits.
Some touts have been providing cover notes on which it is written that the cover note is only for licensing purposes and cannot be claimed against. Such cover notes do not constitute valid cover. No legitimate insurance company would issue such a cover note.
2. Third Party Cover
Third party cover is similar to RTA Cover but has increased policy limits. It covers only the amount for which you are legally liable to a third party if your vehicle is involved in an accident. If you crash into another car or someone else’s property, the insurance company will pay for the damage to the other car or property. The policy does not cover damage to your own car.
The standard limit for accidental injury to or death of third parties, whether they are pedestrians or passengers, is $10 000. The limit for accidental damage to a third party’s moveable or immovable property is also $10 000.
A vehicle owner can opt to increase this limit at an extra premium to be determined by the insurer.
When you are involved in an accident which it is concluded was your fault or due to your negligence, the third party liability cover will meet the third party costs up to the specified limits.
The policy covers the cost of the repair or replacement of the third party’s damaged property. It also covers the medical bills of the third party due to hospitalisation or medical treatment.
3. Full Third Party, Fire and Theft Cover
This is an extension of third party insurance. It provides the following additional cover: loss of or damage to the insured vehicle due to fire, theft of the vehicle and/or accessories, and damage to the vehicle due to attempted theft.
Third party liability cover is the same as with ordinary Third Party Cover but the vehicle owner can increase these limits at an additional premium.
Accidental damage to your own vehicle is excluded with this policy as cover for the insured vehicle is restricted to fire and theft only.
However, we would urge you to go beyond just price and decide whether a Third Party, Fire and Theft policy provides enough cover for you.
If you have an expensive car then it may be better to obtain Comprehensive Cover. If you have an inexpensive car, Third Party Fire and Theft might be enough cover for you.
4. Comprehensive Cover
Comprehensive insurance covers you for damage caused to other drivers, road users or property and, importantly, to your own car.
Making a claim for the repair of damage to your own car and making a claim for an accident that was your fault are the two biggest advantages of a comprehensive policy.
Motor vehicle comprehensive insurance is sometimes referred to as Full Cover, as it covers all accidental loss or damage to the insured motor vehicle, as well as passenger risks and third party liability. It includes all the cover provided under a third party policy but in addition provides cover for accidental loss of or damage to the insured vehicle.
A summary of the cover provided under Motor Comprehensive is as follows;
- Motor Own Damage Cover – This is cover for the insured motor vehicle against accidental loss or damage up to the market value or sum insured of the vehicle, whichever is the lesser. Accidental loss or damage cover includes cover for theft, attempted theft, accidental impact, flooding, storm damage and collision.
Major exclusions include self -inflicted damage and mechanical and electrical damage to the vehicle.
- Third Party Property Damage limit of $10 000 per accident. The cover can be optionally increased subject to payment of an additional premium.
- Third Party Bodily Injury and/or Death – This covers death or injury of pedestrians or other road users, excluding passengers, up to a limit of $20 000 per accident for private cars and up to $30 000 per accident for public passenger vehicles.
- Passenger Liability – This covers passenger liability for non-public service vehicles up to a limit of $2 000 per passenger and $10 000 altogether in any one accident. The cover is for medical expenses and a death benefit up to the given limits. Passenger Liability for public service vehicles (buses, commuter omnibuses and taxis) is sold separately through passenger liability discs at a price of $15 per passenger for a period of a year.
Motor Comprehensive has the following possible extensions:
- Extension of territorial limits to Southern African Development Community (SADC) countries, excluding Angola, Democratic Republic of the Congo (DRC) and Burundi.
In terms of this extension, accidents in SADC countries are covered, excluding the exceptions, for a maximum period of 180 days during any one period of insurance and 90 days during any one visit.
- Free towing services up to reasonable costs to the nearest garage and optional Roadside Assistance Services for an additional $40 annual premium (depending on the scheme selected).
- Medical Expenses cover of $1 000.
- Legal fees extension up to a limit of $1 000.
- Free vehicle valuations for insurance purposes for clients on business acquisition and renewals.
Additional extensions are offered by Zimnat such as hospital cashback extension, funeral rider cover and excess buy-back (where you will not contribute on excesses in the event of an incident).
5. Laid Up Cover
It is just as important, no matter what its value, for your vehicle to be properly insured even if for any reason it is not on the road, including when it is off the road for repair or restoration. We call this a Laid Up – Accidental Damage, Fire and Theft Policy. It is ideal for owners who have declared their vehicle for a licensing exemption due to its being off the road.
We understand that there is an array of reasons why you may want to keep your vehicle off the road, whilst also keeping it properly insured. Cover arranged by Zimnat Insurance will protect your vehicle, its parts and accessories whilst it is laid up.
So, if a toolbox falling from a shelf bashes your bonnet or if you find that your engine bay has become a retreat for rodents, a Laid Up Policy arranged by Zimnat Insurance will offer you peace of mind in even the most unanticipated situation.
Any vehicle, new or old, can qualify for Laid Up Cover as long as it is garaged, parked in your drive or stored in a secure building.
The cover includes cover for accidental damage and for fire and theft. Premiums reflect the fact that you are not driving.
Conclusion
If your current car insurance policy only covers third party damage, there is every reason to consider upgrading it. By choosing the comprehensive cover, you will obtain the highest level of compensation from the insurance company.
If your vehicle’s windshield is damaged due to an accident, it can be replaced with the compensation paid by the insurance company.
Included in the cover is damage to the car due to the entry of flood waters into the engine and other parts of the vehicle, damage to the car and accessories due to fire, damage due to natural disasters such as a windstorm or earthquake, damage to the vehicle caused by hitting an animal, damage due to a strike, vandalism or riots and damage incurred by a third-party as a result of an accident for which you are to blame..
Comprehensive auto insurance offers maximum coverage. However, there are certain exclusions. You should be aware of these exclusions so that there will not be any unpleasant surprises when you submit a claim.
These exclusions are damage attributable to normal wear and tear or the aging of the vehicle, a breakdown of electrical or mechanical parts, damage to tyres and tubes, damage to the vehicle while being driven by an unlicensed driver or a person under the influence of drugs or alcohol and damage due to war or a nuclear attack.
Car owners should be wise enough to choose the best car insurance coverage options to minimise the risk and maximise the benefits.
While the mandatory minimum liability insurance is the cheapest option, it will not cover the policyholder’s interests. Factors to be taken into consideration in selecting a motor insurance policy include the make and model of the car, frequency of usage and location. By comparing and analysing various kinds of coverage, you can settle for the car insurance policy that suits you best.
For more details send an email to customercare@zimnat.co.zw or call us on +263 242 707 582/3/5/6
By Johnson Chiutanyi
Plan To Enjoy Your Old Age
Retirement Planning Helps Ensure Old Age Is Enjoyed, Not Endured
Most people see life insurance primarily as a way to protect families in the event of the early loss of a bread winner during his or her working years. However, it can be so much more than that if incorporated in a retirement plan.
Remember it is possible not only to die younger but to live longer than you expect, perhaps for long after you retire. You may face more financial obstacles in the future, when you are no longer working, than in the past.
The Zimnat Personal Pension Plan offers a flexible financial solution that is intended to ensure people are able to enjoy their retirement years as opposed to enduring old age.
Retirement is the ideal time to check off the items on your bucket list, as most people are not able to fulfil their dreams during their working years due to the shortage of time and the many responsibilities they have. After retirement there is plenty of time to freely explore many places and experiences, without the tensions of the workplace.
Benefits
The Zimnat Personal Pension Plan is there to help people make savings for their retirement with built-in flexibility. It offers a liveable income after retirement as well as a guaranteed Death Benefit. The retirement proceeds are exempt from estate duty and protected from creditors or bankruptcy.
If your family is dependent on you then your retirement will affect them. It can affect them positively if you have a sufficient package to enable you to fulfil their wishes. Proceeds from a retirement plan have no territorial limits, meaning that you can afford to retire anywhere in the world and still receive your retirement income.
Most importantly retirement planning is a structured and disciplined way of saving and the beneficiaries are protected by law (SI 323). Members of group pension funds who want to improve their retirement income/packages can do so through the Zimnat Personal Pension Plan.
The way the Zimnat Personal Pension Plan works is simple. Members of the Personal Pension Plan fund make contributions to the fund. These contributions may be recurring, ad-hoc or a lump sum. Contributions are treated as personal and grow from interest declared monthly on the fund, which is market linked. Members have access to their retirement income on or after age 55.
Early retirement due to ill health is available after two years. Beneficiaries have access to funds on the death of the member.
When can we sign up?
It’s never too early to prepare for retirement. Members can sign up for the plan from as early as 18 years of age and as late as 65. It is important to note that a retirement plan is a tax-deferred vehicle, which means the money set aside for retirement grows without accruing tax liabilities.
Every person wants to live an independent life even after retirement. It is important to keep your retirement planning on your priority list so that your dependent family does not suffer after your retirement.
The Zimnat Personal Pension Plan takes care of your financial needs after retirement. From as little as $25 per month one can provide the financial security that gives the principle member and his or her family deserved peace of mind. Zimnat is all about making your life better.
For more details send an email to customercare@zimnat.co.zw or call us on 024-2707582/3/5/6
Written by Patience Mustvanga
Asset Management Holds Key To Long-Term Financial Planning
In an effort to make life better, the Zimnat Group offers services essential for prudent wealth management, from insuring wealth to providing short-term financing solutions and long-term financial planning.
This article seeks to explore the aspect of long-term financial planning. It demystifies the term “Asset Management”, as well as who needs it and why.
The asset manager’s goal is to protect and grow the client’s wealth through investment vehicles in equities, fixed income securities, property and other structured investments. The mysterious science behind it is simply in-depth analysis of economic and political information that allows for efficient allocation of capital.
Who does this initiative Benefit?
Pension funds and corporates are usually more familiar with the need for long-term financial planning than most individuals.
Pensioners should be able to comfortably live off the income from their annuity for the rest of their life, if they've put enough money into it.
Providing this level of financial security for ordinary people is a pension fund's primary aim. In the current climate, this is a serious investment challenge.
For corporates, capital accumulation is important for business expansion. It is required to support the process of establishing new subsidiaries and building them into successful entities that can provide them with a strong return on their investment.
Services On Offer
Zimnat Asset Management provides discretionary and non-discretionary investment management and advisory services to pension funds, life assurance companies, corporate companies, high net worth individuals and families.
Each client’s investments are managed according to a specific strategy, which is extensively discussed and reviewed periodically to align the client’s portfolio with the client’s investment objectives.
Unlike the entities mentioned above, ordinary individuals are usually not inclined to think in terms of long-term financial planning. When they do, investing and savings are viewed as the same thing.
Savings are a part of income set aside in one’s bank account or under one’s pillow or as part of a savings club scheme to spend at a future date.
Investments are savings that generate returns through dividends, interest, rentals and other income-earning schemes.
Investments, when managed correctly, increase in value over time, allowing one to sell at a profit. Individual investment provides a means of attaining financial security and independence. It allows one to build wealth faster and therefore attain goals such as buying a home, saving for retirement or starting a business.
Ordinary individuals may be hesitant to invest because investment tends to be seen as requiring large sums of money.
How Do Unit Trusts Work?
Unit trusts are ideal for small investors. They are investment vehicles that pool investors’ money in a single fund, which is managed by a fund manager. It does not matter how much the individual investor contributes to the fund. It can be as little as $150. Zimnat Asset Management operates several unit trust funds that offer exposure to money market instruments, quoted equities and bonds.
Management of risk is an important factor in long-term financial planning. It not only considers economic fundamentals but the political environment, international relations, the corporate governance practices of listed companies and changes in investment regulations, as well as the social responsibility of the individual or corporation with the wealth.
Zimnat Asset Management continually assesses client portfolios to ensure they are structured according to the underlying risk appetite of each client, with the ultimate objective of hedging against potential capital loss.
In a nutshell, whether you are an individual or corporation, an asset manager will aid you in your long-term financial goals. Zimnat Asset Management provides innovative investment solutions aimed at meeting the wide-ranging requirements of its clients.
For more details send an email to customercare@zimnat.co.zw or call us on (242) 707 582/3/5/6
Website: www.zimnat.co.zw
Your Business Needs Cover
Zimnat in its effort to make life better will today explore exposures that may threaten the profitability and survival of a business and the respective insurance covers to ensure that business is protected at all times. It’s written with the small to medium enterprises that are sustaining the majority of the Zimbabwean economy in mind.
The most common causes of loss to business are amongst fire, lightning, explosions, storms, flooding, impact by vehicles or animals, bursting of pipes amongst others. Regardless of the industry in which a business operates, it’s bound to own some assets. These could be buildings, fittings or equipment used in the days to day running of a business. All assets could be subject to damage by the said causes. It’s wise to ensure that you are covered.
Should any of these perils befall a business on a large enough scale, it is likely that operations are going to be affected. Imagine a fire at a restaurant, it may cause the premises to be closed for the time until the damage is restored, starving the business of income. The business may decide to operate from another premise, at a higher cost. All the while still incurring fixed costs. Even after the premises are restored, It may take time until the business regains its market share. Business interruption cover exists to cover all these eventualities. The insurer will pay an amount equivalent to the gross profit the business would have earned had the disaster not occurred. It will also cover additional costs incurred because of the disaster, like getting a new premise, hiring more staff or getting current staff to work overtime.
Imagine what could happen if you lost a record of what customers who owe you money. It would be as good all the money that customers owe has been lost. Not with accounts receivable cover offered by Zimnat. Accounts receivable insurance provides protection for a variety of situations involving a company's accounts receivable records. First, it will cover a firm for sums that can't be collected from customers due to records being damaged or destroyed by a covered peril.
The coverage also provides reimbursement for collection costs in excess of your normal collection costs. Most businesses incur regular costs for collecting money owed by customers, such as a book keeper spending a few hours each month reminding customers that payments are due. Accounts receivable insurance covers expenses over and above these normal costs, which come as a direct result of a loss. One example of such a cost is the hiring a temporary worker to assist with collection activities. Accounts receivable insurance will also cover the costs of re-establishing your accounts receivable records, such as the costs of hiring an IT consultant that specializes in data loss recovery. Theft insurance covers break in and theft. If will covers property damage resultant from the theft and the loss of stolen items.
Any business with revenue will at some point have cash on their premises. In business, handling money, be it at the premises during working hours, in a safe outside working hours, in transit to the bank or other branches of the business or at directors’ residence can cause some anxiety. Zimnat General Insurance can help you successfully overcome these situations and put you firmly in control of your business. With Zimnat’s Money Policy, you can safeguard your Money no matter where it is.
Replacing commercial glass in a building can be very costly. Structural glass commercial buildings, retail establishments, showrooms, shopping complexes, restaurants and hotels often all have very large glass exposures that can cost thousands to replace. In addition to structural glass, Plate Glass cover protects a wide variety of exposures including Ornaments, Chandeliers, Glass counters and showcase cabinets amongst others.
When materials or stock are an essential asset to your business it is vital that they are protected during transit. A Goods in Transit Insurance policy does this, insuring you against loss, damage or theft when your goods are on the move. Whether you are a tradesman transporting expensive tools and materials from job-to-job, or a retailer that relies on distributing products via a third-party courier, Goods in Transit insurance serves to protect the long term security of your business.
Zimnat's Business All Risk covers items which belong to the policyholder and are usually worn or taken away from the business risk address. These could be phones, laptops, stethoscopes for doctors or any equipment that your business needs to carry around.
Business liability insurance protects a company and/or business owner in the event of a formal lawsuit or any third-party claim. Coverage includes any financial liability incurred in addition to expenses related to the company's legal defence. There are two main types of business liability insurance: general liability insurance and product liability insurance.
- General liability insurance - provides insurance coverage for lawsuits arising from injury to the public, property damage caused by an employee and injuries suffered by the negligent action of employees.
- Product liability insurance - for businesses that manufacture products for sale on the general market. Product liability insurance protects against lawsuits arising from injury or death caused by their products.
Employer's liability insurance protects employers from financial loss if a worker has a job-related injury or illness
Accidental death or injury of an employee in the course of employment is a peril every business owner should be wary of. If unchecked, this could rake up quite a bill for the company in medical bills and compensation to a deceased family. Employee personal accident provides cover for such situations. It provides pay-out for accidental death or injury of employees during the course of their duties.
The last cover we will consider is theft by your own employees. Companies are exposed to significant financial losses annually, due to crime committed by employees and it is reported that Fraud is on the increase. Combined with the growth in the use of electronic data and asset transfers, the fidelity losses faced by employers are increasing substantially. Fidelity Guarantee insurance is designed to indemnify the Insured for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment.
The article has looking at common causes of loss within a business. Zimnat will help you evaluate your heir insurance needs based on potential risks, and tailor make cover best suited to your needs.
Written by Raymond Jowa
For more details send an email to customercare@zimnat.co.zw or call us on +263 242 775 82/3/5/6
Website: www.zimnat.co.zw