Category Life Insurance

Long-term insurance giant launches customisable funeral plan

03 August 2018 Llewellyn Allen, Metropolitan
Llewellyn Allen, Divisional Chief Marketing Officer at Metropolitan.

Llewellyn Allen, Divisional Chief Marketing Officer at Metropolitan.

The top-scoring life insurer in the South African Customer Satisfaction Index (SAcsi) for three years running, Metropolitan has unveiled its new Funeral Solution which has personalisation at its core – giving policyholders the flexibility to customise their funeral based on their needs and pocket.

“Our clients have told us what they want and we’ve listened. Our new Funeral Solution gives them the flexibility to build their own personal plans – ultimately offering them value for money while ensuring that all the aspects most important to them are covered.” says Llewellyn Allen, Divisional Chief Marketing Officer at Metropolitan.

The Solution forms part of the financial services provider’s strategy of partnering with clients to achieve their life goals.

“We have differentiated our solution from what is currently available on the market in a number of other ways too,” says Allen.

Through the life event enablement service now being offered, Metropolitan can assist the client with sourcing suppliers and/or items for the funeral such as the coffin, flowers and tombstone, in line with the customer’s desires. Alternatively, the money can be paid into a bank account for a beneficiary to make the necessary arrangements.

With a key concern being having funds available to organise the funeral, Metropolitan pays out 87% of death claims within five to seven hours of being informed of the death (i.e. within the same day). It also enables speedy turnaround times and the utmost in convenience through paperless claims.

In addition to being able to cover up to lives, customers can now cover immediate family members for up to R80, 000 and parents and extended family for up to R50, 000. They can also cover more than one partner, of any gender, meaning that the solution is open to those in same sex as well as polygamous relationships. Plus, parents have the option of either covering each of their children for life at an individual premium, or all of their children until they reach the age of 21 under a single life. 

Keeping rising inflation in mind, the need to repatriate the body and unforeseen events like the death, disability and/or retirement of the policyholder, Metropolitan offers value-added protection benefits that clients can add to their Solution.

“Perhaps the most distinguishing feature of the new Funeral Solution is that consumers now have the flexibility to change their cover - as and when their lives change,” concludes Allen.

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