As a mark of innovations, seventy years on, Old Mutual Malawi has announced of high-level enhancements to the Credit Life Assurance schemes.
The alterations will ensure that both borrowers and lenders are protected against unforeseen circumstances, says Chisomo Chibwana, Old Mutual Malawi Senior Retention and Brand Assurance Manager.
The enhancements are to do with Accidental Death Cover, Funeral Cover, Total Permanent Disability Cover and Group Critical Illness Cover.
According to Chibwana, through the changes, for instance lenders will be assured of management of risks and loan security in the events of borrowers’ death or incapacity with the insurance covering outstanding loan balances.
‘’These will shield lenders from potential financial losses. In addition, the propositions will also contribute to the overall financial stability within the lending ecosystem, ’she said.
In addition, Chibwana has hinted that they will carry on with various innovations to meet consumers’ ever changing needs in Life Assurance, Savings and Investment.
Old Mutual Malawi is this year celebrating its 70th anniversary as events marking the celebrations have already started nationwide.
