Zimnat Provides Micro Finance
Zimnat prides itself on being a provider of simple yet very necessary solutions to its clients. For instance, we believe that one of our client’s biggest values is education so we set out to ensure this need is met.
It is no secret that a good education has the power to make life better. Today’s society is investing more than ever in educating its families, eager for them to compete in the global workforce.
Zimnat recently refreshed its brand to reflect its new ethos that is based on a united financial group, backed and endorsed by Sanlam, and a new brand promise of “making life better”. The new brand talks of an organisation with access to world-class technical expertise, stability and security. As such, Zimnat has become an all-encompassing financial group with expertise across the board, ranging from short-term insurance and life insurance to asset management and micro finance.
The Microfinance Division provides funding to civil servants and employees of corporate companies in the form of consumer loans that may be used to pay school fees, cover medical or emergency bills or pay for home improvements.
With Zimnat, you are guaranteed an efficient turnaround time without any hassles, enabling you to obtain a loan just in time for the beginning of the term to avoid your child being turned away and losing precious learning time. With your authorisation, we can pay directly to the school account and avail the proof of payment. Zimnat wants to ensure children start and finish their education in a fulfilling way. It wants to provide financial solutions for economically active entrepreneurs and employees, thus helping to drive development that improves the livelihoods of the country’s people.
Zimnat has a wide range of financial products to choose from. Our consumer loans stretch up to $5 000 at very lucrative interest rates. We recently launched a micro housing product for all those who are building. Our housing loans stretch up to a tenure of three years, with a loan amount of up to $30 000. So not only can we facilitate your children’s education, but we can also help you build easily.
We also offer working capital loans for all those entrepreneurs with vibrant businesses. Do not struggle with your business. Instead diversify and grow your business as we also have additional capital packages for manufacturing or retail businesses. Zimnat is your one stop shop for all your financial solutions.
By Praise Rundofa
For more details send an email to customercare@zimnat.co.zw or call us on +263 24 77582/3/5/6
When The Unexpected Happens…
The topic on financial protection against uncertainties through life insurance in the event of death often makes people uncomfortable. However, it is not an unpleasant conversation after all, it is actually a worthwhile topic that you will live to smile about. With life insurance from Zimnat, you can stop worrying and start enjoying cover. Simply put, life insurance is the exchange of a relatively small payment of money each month for a larger amount of benefit pay out in the event of death.
You will either live to work and grow old or die young or mature, working and with a family to support. Imagine in a family where everyone’s livelihood depends on your income, the moment that the income ceases everything will crumble. Income ceases because either you have grown too old to continue working or you die. In the event of death, life cannot be replaced but having life insurance will help your family pay for education and providing any other financial security. There is still life after you and you can help maintain it.
Cover From Debt After Death
Dealing with debt during grieving would really be the worst experience for your family. Death cannot be controlled, instead of worrying about what your family will do with your debt, you can get life insurance to cover debt which can affect your family. If you die with unpaid debt, your survivors are at the risk of being on the hook for all of your debt or part of it. This can happen if you are a co-signatory on a loan such as a mortgage.
Others may argue that in the event that a person does not die and they finish paying off the debt, it may seem like all those payments were for nothing. However, that is not the case. You were actually paying for protection in the event that you die, something which is unpredictable and you cannot for tell. It is essential to know that you will be paying for peace of mind that comes with knowing that you can take care of your family from beyond the grave in the same way that you would have been if you were alive and that surely is priceless.
It is pleasing to note that no matter your income, life insurance with Zimnat is affordable to fit any budget. And remember the catch is that in life insurance you will only pay a small amount for a bigger benefit. Often the young and single people think that life insurance is not for them when in actual fact it is for them too. The difference probably lies in the amount of responsibilities that you have and the cover needed may not be as much but still you need it and you need to be prepared for when those circumstances change. Buying life insurance at a younger and healthier age lowers the price and on a lighter note if you have a bigger heart you can always channel your benefits to other people around you like your parents, siblings and extended family. It does not need to be about your spouse and children only.
Does My Spouse Need Life Insurance Too?
Another misconception is that if a spouse has life insurance, the other spouse does not need it. In actual fact, it is best for both spouses to have it especially where they have children. The loss of one spouse’s income is a financial setback to the family. Life insurance pay-out will cushion the setback.
Formally employed people who have life insurance coverage through their employers need to remember that it is not enough as it is affected by loss of employment and job hopping. It is therefore advisable to get additional cover in the form of an individual policy.
With Zimnat, you get the right package that will satisfy your needs and is definitely affordable. Even if you are not physically there for your family or business, life still goes on and dreams can still live. Nothing can beat the peace of mind that comes with knowing that. Parting advice; stop worrying about financial obligations for when you are not there, simply get life insurance.
Written by Rufaro Vambe (Customer Care Supervisor for Zimnat Life Assurance)
Domestic Insurance Tailor-Made For You
Have you worked hard to build your home and buy the furniture? Unforeseen disasters like fires and floods can take away your lifetime savings and efforts in just minutes. Such occurrences make you realise how invaluable home insurance is.
Although it tends to be a begrudging purchase, it really is wise to set aside a few dollars to buy insurance, considering that cover for a house worth $100,000 costs as little as $100 per year. *
For many, their home is probably their largest and most important investment. It therefore requires sufficient thought in making sure it is protected in case of disaster. Zimnat General Insurance provides comprehensive protection against unfortunate events that may befall the house and its occupants with its domestic insurance product. This product comes in the following five sections:
- Homeowners which is protection for your physical buildings,
- Householders that protects the contents of your home,
- Multiple risks that covers items that you regularly take outside the house,
- Personal accident and
- Personal liability.
Homeowners insurance covers your building and all other fixtures around the home, including geysers, boundary walls, garages, gates and gate motors, swimming pool motors amongst others. Contrary to popular assumption that home insurance only covers fire risk, or that it’s the only disaster that endangers the house, there’s quite a number of perils that are covered such as lightning, flooding, explosions, non-political riots and broken burglar bars in theft attempts. In case any of these happen Zimnat would either ensure your home is fixed, rebuilt or offer a cash/money settlement.
It is also interesting to know that under homeowners insurance, you can be covered for loss of rent whilst your property is being fixed. So in essence Zimnat makes sure that both your property and rental income are safe. House holders insurance covers the contents in your house, even when you do not own the property you are staying in. In the case of rented accommodation, there is still cover for the valuables in the house. These may include, TVs, fridges, stoves, garden furniture, and works of art, money and clothes on the washing line among others. Householders insurance also extends to cover items belonging to your domestic workers, and guests in your home.
To further highlight the benefits of home insurance consider the following:
- Should your home be unsuitable for living in due to a covered event, you can arrange alternative accommodation whilst the house is being fixed, and the cost of such accommodation will be borne by the insurer.
- During the time your house is being fixed, the insurer will pay the costs of a watchman for your home.
- If you accidentally lose your keys, the insurer will pay to have your keys and locks replaced
- If the contents of your fridge go bad because of accidental damage to the fridge, you’re covered for the value of these contents.
Another interesting cover in this section is tenants’ liability. This covers you for accidental damage you may cause to the landlord’s fixtures. Meaning as a tenant if you provide proof that you have home contents insurance you can be exempted from paying the security deposit landlords usually require.
The third section “Multiple risks” covers items you wear and that you usually carry outside the house. These include clothes, jewellery, laptops, phones, sporting equipment and spectacles. These items are covered within the house and anywhere else in the world you take them.
For those who like golf, Zimnat also offers a hole-in-one cover. This means that should any member of the household score a hole-in-one, whilst playing in an amateur game, the insurer will pay for the present. So the next time you hit a hole-in-one, there’s going to be more than enough to go around.
The personal accident section of the policy covers members of the household for accidental injury to their body. The accidents may be traffic accidents, burns, drowning, falling from ladders or trees etc. In the case of an accident, the policy will pay for medical expenses incurred. It will also provide compensation for any permanent disabilities sustained and for the time one is not able to attend to normal work. In the unfortunate event of death by accident, the policy will also provide a lump sum compensation.
Cover under the home insurance policy also extends to personal liability to visitors at your home. This may be in relation to medical bills due to injuries caused at your home from dog bites, or people slipping and falling within your home.
In addition to all the benefits above Zimnat also offers a complementary valuation of your property. Do not be caught off guard by the next disaster, let Zimnat make your life better!
Written by Raymond Jowa
For more details send an email to customercare@zimnat.co.zw or call us on +263 4 775 82/3/5/6
Website: www.zimnat.co.zw
Build Your Dream House With Our Micro-Housing Solution
Are you struggling to build your house? Do you have a stand and don’t have money to start building? Do you want to buy a stand but your savings are not adding up? Worry not Zimnat is here to turn that dream house into a reality. As Zimnat our mission is “Making Life better” and we aim to create solutions to help you realise your dreams.
With this in mind our Microfinance division offers a Micro-housing solution which provides financing for the development of your home. Our micro housing loans are easily accessible with only 7 days of processing. The financing applies to residential stand purchasing and partial or complete homes. We provide a buffet of funding options, such as plumbing, solar installations, glazing, painting, tiling, paving, BICs, walling, dura walls, renovations, drive ways etc. We pay the supplier directly thus eliminating the temptation of fund diversion and to ensure you realise your dream.
When you start building it is frustrating to stop and scout for funds to get to the next stage. Our product eliminates all that as it has reasonable requirements and the money is paid within a week. With the current high demand of property it has become expensive to process title deeds when one gets a piece of land. Most houses are still endorsed on cession forms and agreements of sale, to Zimnat this is enough collateral security because our number one goal is to make your life better.
As a highly empathetic organasation we highly prioritize listening and providing tailor made solutions. As such we have dedicated resources whose jobs are to understand your home developmental plan, through site visits and working together with you throughout the project in the most effective and efficient way. The micro housing plan has a lower cap of $200, and an upper cap of $30,000 depending on your capacity to repay the loan with a tenure of up to 36months. This to ensure that loans should not stretch for too long bearing in mind that our clients also need to have savings and investments.
All our loans are insured against death and permanent disability. Ensuring that your work benefit accumulations are not diverted to pay off your balances when you are gone. Zimnat is your one stop shop that embraces you through your life journey by making your life better.
Our Micro-housing loans do not require establishment fees or upfront fees. The amount you apply for is what we credit in the account. Disbursements can be through Instant online banking, RTGS or mobile transfers. Our Micro housing products are open to all civil servants nationwide, entrepreneurs and corporate company employees. With our welcoming sales team you are guaranteed to feel at home at Zimnat. You may also access other services such as Insurance, life polices and Investments.
For more details on this product send an email to customercare@zimnat.co.zw or WhatsApp on (+263) 734 875 878.
The No Claims Bonus Experience from Zimnat
July 2013 saw the exciting launch of a first ever to be seen in Zimbabwe, the No Claims Bonus Funeral Cash Plan by Zimnat. The product was well received and this year our clients will get to experience this added benefit on their policy as we make our maiden payments.
Already there is so much excitement in the air with our clients who are looking forward to this experience. The beginning of the year has seen a lot of clients inquiring and seeking confirmation on whether indeed this was going to be happening. As Zimnat, we are so proud and excited to be seeing our clients getting to experience this service and it will further rubber stamp that Zimnat is surely all about innovation that is meant to “make life better” always for our clients.
The No Claims Bonus is just but one of the many other enhancements that we have made to our products since the comeback of insurance products post dollarization era. Zimnat was the first Life office to offer such a product. Our Family Funeral Cash Plan started as a simple funeral cash plan which offers financial protection in the event of death with covers ranging from $500 up to a maximum of $5000.
The introduction of this unique No Claims Bonus feature on our funeral cash plan has remained unique across the local insurance industry and it was the unfolding of our quest to continuously improve on our offering to our valued clients.
The Zimnat journey of making life better for our valued clients through anticipating their needs and working towards providing solutions for those needs did not end with the No Claims Bonus
launch.
We have proudly launched other added benefits onto the Family Funeral Cash Plan namely the Hospital Cash Back facility as well as the Tombstone and Vigil benefit.
In addition to that we have also revised our maximum funeral cover to an amazing $10 000. These added benefits are not just part of a “me too” strategy but they came as a result of the guarantee that we offer our valued clients that we will always make your life better by bringing you relevant solutions to your financial needs. Zimnat is also excited to be sharing that we have also recently launched an exciting new Whole Life plan with added benefits, namely the death benefit, funeral cover, free will writing facility and an annual benefit escalation.
All this is meant to make the lives our clients and their loved ones better and as Zimnat our final promise lies in honouring our final promise through paying claims.
As we go deeper into the year it is time that you help us make many other lives better by recommending your friends and relatives to sign up with us for a guaranteed peace of mind through the range of products that we have to cater for all your short - long term financial needs and protection.
By Rufaro Vambe
Let's Get To Understand The Zimnat Group Products
There are several products that the Zimnat Group offers. In this column, we will be taking you through some of the products offered by the group, benefit structures and why you should get them. All of these product are some form of investments. Everything you do in life has a reason for example you get married to settle yourself in life with a soul mate and lead yourself towards a family life. You work to make sure that your family does not fall short of basic necessities, you save money for various reasons like vacations and unforeseen events. Even after all this, one needs to protect his/her family in the event of uncontrollable circumstances like accidents or death. The Zimnat Group is here for you during your life journey and beyond. We are here to Make Life Better for you. Let’s explains on some of the products that individual or corporates need to invest in:
MICRO-FINANCE
Everything is going Micro these days. Why? To make it relevant, affordable and accessible. Our Microfinance arm has readily available loans for various uses. The most interesting and latest product is the MICRO HOUSING LOAN. The product is available to anyone with a house or stand and wants to build or improve it. Why go for MicroFinance? The most affordable rates and flexible terms in the market.
INDIVIDUAL WHOLE LIFE PLAN
We know and respect that you work tirelessly to ensure that your family, businesses and assets are always protected. The whole life plan is an insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date.
Why go for the Individual Whole Life Plan?
• Provision of day to day living expenses upon death
• Protection for outstanding mortgage loans
• Provision of funds to pay any estate duty taxes upon death
• Taking Insurance cover on the life of key people in a business
• Protection of the surviving partner (s) in the event of death of the other
GROUP BUSINESS - FUNERAL PLAN
Getting a funeral cover has never been easy as a group with our Group Business department. Whilst death is a painful event that comes unexpectedly, we should all prepare and be able to live with peace of mind knowing that loved ones are cushioned against the funeral expenses.
Why go for the Group Funeral Policy?
• Affordable rates for as low as USD0.50
• No medical examination
• No waiting period for deaths as a result of an
accident
• Flexible premium payments which can be paid
monthly, quarterly or yearly
GENERAL INSURANCE - HOSPITAL CASH PLAN
Health is everyone’s greatest asset. Sudden illness or accidental bodily injury can sometimes leave one financially incapacitated. The Hospital Cash Plan is a benefit product which pay off when a policyholder is hospitalized as a result of an accident or sickness. The plans acts as a complementary product to the Medical Aid. The benefit can be used to pay off any shortfall which might have occurred and additional expenses incurred when one is hospitalized.
Why the Hospital Cash Plan?
• No medical check-ups
• Covers maternity and pre-existing conditions
• Pays up to $200 for every day spent in hospital
• Covers pre-existing conditions
• Cash payouts whilst in hospital
• Flexible premium payment needs
• Covers an unlimited number of dependents
ASSET MANAGEMENT - STABLE INCOME FUND
This is my favourite and perhaps the most relevant, not only for corporates but for individuals as well. Everyone, at one point in time, needs to invest. The Asset management arms links all the above entities – investing in short and long term instruments. With 8 registered asset managers in Zimbabwe, Zimnat Asset Management has been rated NUMBER ONE (1) on a rolling 3, 4 and 5 year period for Pension Funds.
Stable Income Fund
A simple but stable fund is the Stable Income Fund. This is a taxable purely money market fund, providing a reasonable, stable and low risk environment. Its underlying assets are high yielding fixed income instruments namely corporate debt instruments, bankers’ acceptances, certificates of deposits and other interest bearing liquid assets. This fund is ideal for taxable individuals wishing to receive a stable income from their investments, as opposed to achieving capital growth.
Combining all these products
With the Zimnat Group products, we are not only interested in one part of your life but we want to be with you all way.
ZIMNAT – YOU PARTNER FOR LIFE