11 December 2012

Zambia: Madison Launches New Product

MADISON Life Insurance Company will introduce the repackaged Madison School Policy with effective from January 1, 2013.

Madison Life Insurance managing director Agness Chakonta said the company would launch the repackaged Madison School Policy starting from January 1, 2013.

"We have more innovative products to be introduced in the near future and the first one being the repackaged Madison School Policy with effective from January 1, 2013.Therefore, we value your continued support in the collection and remittance of premiums to us," she said.

Speaking at the cocktail party in recognition of the Madison clients in Lusaka Ms Chakonta said the company had scored a number of successes this year citing the introduction of Madison Personal Pension Plan product on the market and many others.

"As Mlife, we aim at being Zambia's leading insurer of world class standards in innovation, market share and profitability by providing consistent quality service in the market. This, our dear partners, can only be achieved with your continued support and dedicated commitment," she said.

She said in response to the financial needs, the firm introduced and launched the Madison Personal Pension Plan product designed at enabling the general populace saves towards their pension from an age as early as 18.

The company offers the Madison baby present policy, Madison endowment policy and Madison whole life policy among others.

And the Zambia Postal Service Corporation (ZAMPOST) has partnered with Professional Life Assurance which will see Swift Cash customers get life assurance cover upon sending money through swift cash across the country.

According to a statement released in Lusaka, with effect from December 1, 2012, all the customers sending money by Swift Cash would automatically qualify for free life insurance cover.

"ZAMPOST is pleased to create more value for its swift cash customers through the partnership with Professional Life Assurance," the statement states.

Under the cover, ZAMPOST would provide financial benefits of up to K1.5 million to the family of the registered customer in the unfortunate event of death of the customer.

The statement said to qualify for the life cover one has to simply send any amount of money by swift cash at any post office.

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