Standard Bank enhances Funeral Plan cover by introducing ‘Last Mile to Lasting Memories’ tombstone cover

* Improved funeral plan offer comes in three new packages of Premium, Diaspora Gold and Diaspora Platinum

* Offered in partnership with NICO Life and the improvements speak of the bank’s commitment to provide a holistic service beyond daily financial transactions

 By Michael Nasiyaya, Contributor

Standard Bank Plc has announced improvements to its Funeral Plan cover by extending the offering to Malawians in the diaspora and introducing the additional benefit named ‘Last Mile to Lasting Memories’ tombstone cover on its new VIP and diaspora plans.

Charity Mughogho, executive head of personal & private banking said the latest improvements to the offer emphasise Standard Bank’s commitment to serve customers throughout all stages of life — including during the unfortunate demise of an insured member or any dependent covered under a funeral policy.

The Last Mile to Lasting Memories cover is replete with a tombstone after a year of the funeral and extends to the bank’s customers in the diaspora.

Mughogho added that the improved funeral plan offer comes in three new packages of Premium, Diaspora Gold and Diaspora Platinum and is offered in partnership with NICO Life: “Our funeral plans aim at relieving bereaved families of the financial burden of managing a funeral and the subsequent tombstone cost at the one-year anniversary.

“The Bank is also aware that for most Malawians, it is customary to erect a tombstone at the one-year anniversary and we want to walk every step of the journey with our clients hence the addition of tombstone at this significant milestone.”

Mughogho further said the improvements to the Funeral Cover speak of the bank’s commitment to provide a holistic service to customers beyond daily financial transactions.

“We realise that after the last mile for our insured clients and their dependents, the remaining family members are left with the obligation to build a befitting final resting place for their loved one, which includes a tombstone that provides full dignity and preserves fond memories. This cover has been designed to cater for this need, while converging all customers groups in Malawi and abroad,” she said.

Standard Bank fully appreciates the emotional strain and logistical hurdle families face when repatriating the remains of loved ones and Mughogho said the two new Diaspora Funeral Plans — Diaspora Gold and Diaspora Platinum — come with higher limits to make repatriation easier for bereaved families.

“The improvements to the funeral cover are testament to the Bank’s dedication to providing innovative and comprehensive solutions for Malawians both home and abroad,” she said.

The Premium and Diaspora Funeral Plans are an addition to the suite of the bank’s funeral packages designed to cater to the special needs of customers seeking a complete and dignified farewell for their loved ones.

“The Premium Funeral Plan stands out as a comprehensive offering, tailored to provide an elevated level of support and comfort during a challenging period.

“With our unwavering commitment to customer-centricity, Standard Bank has accurately designed this plan to offer not only financial coverage but also personalized assistance to bereaved families,” Mughogho said.

The premiums range from MK1,400 per month for Mtendere Funeral Plan for a family of up to eight members to the newly-enhanced top of the range Premium Plan at MK30,000 for six members and Diaspora Funeral Plans.