Namlife has announced an increase in benefits to members starting this February.
According to Ilke Platt, a Senior Marketing and Communications Consultant, the company is set to introduce new enhancements to the existing products from 23 February.
These enhancements according to General Manager Distribution, Irvin Moller, came as a result of an outcry from the market to improve the benefits offered in the entry-level market.
Before, the maximum life cover was only N$50,000 per assured while with the enhancement each assured will now qualify for N$100,000 life cover. The maximum funeral cover was N$20,000 (including additional benefits) but now the limit is N$40,000 with additional benefits.
While the enhanced products will be on the market as from 23 February, Namlife has prepared in advance for the changes.
"We have spent a lot of time getting everything ready. We have listened to our agents in the field who gave us valuable market information. That call was heeded by the Board who approved the enhancements; our actuaries developed these enhancements to fit our target market like a glove," said Moller.
The company has already launched its improved benefit packages in the four cities of Walvis Bay, Otjiwarongo, Ondangwa and Windhoek. Hileni Henok, Namlife Agent in Ondangwa, said she is excited about the new product enhancement and believes that it will benefit policy holders even more. "I have been working for Namlife for the past 4 years and I am proud to be associated with this company. It has a good reputation, it pays its clients on time and it still remains the most affordable on the market," she said.
In the meantime, Namlife says it is excited about its cash back reward, whereby clients whose Family Funeral Plan and/or Multi plan policy has been continuously active for 5 years, and no claim has been made on it, are getting back 50% of the first years' contributed premiums.
This exercise started last year in December and more than 80 clients qualified for the cash back reward. This month alone, more than 340 clients will qualify and the reimbursement will continue every month.