Life assured below age 18: ZWL$250,000 reviewable annually or as and when
Life assured below age 65: ZWL$500,000 reviewable annually or as and when
Life assured above age 65 and below 75: ZWL$250,000 reviewable annually or as and when
Immediate cover for accidental deaths.
12 months cover, renewable annually
It pays out cash benefits of;
Minimum 50,000 – maximum 500,000 for those aged between 18 – 65 years
Minimum 50,000 – maximum 250,000 for children aged below 18 and adults above 65 years
The policyholder can provide cover for either themselves or their dependants for whom they have an insurable interest. The policyholder will provide their relationship status with the insured life e.g. mother, father-in-law etc.
There is no maximum number of dependants per policy
Adult, 18 at last birthday
Child, 0 at last birthday, that is from birth
Child, 17 at last birthday
Adult, 74 at last birthday
A person aged 75 and above is allowed to renew if s/he was covered before attaining age 75 and at renewal, the policy has not yet lapsed or terminated.
Maximum cease age:
None for adults
Child rates apply before the child attains age 18 years. After age 18 adult rates will apply
Events and Exclusions
Death of the lives assured. The cover amount is paid out on the death of the life assured, subject to exclusions.
Death due to natural causes in the first 3 calendar months from cover commencement date for lives 65 years of age and below at last birthday.
Death due to natural causes in the first 6 calendar months from cover commencement date for lives above 65 years of age at last birthday.
Suicide in the first 6 calendar months from cover commencement date.
Death due to nuclear activity or radioactivity
Death due to any violation of criminal law by the Life Assured.
Death due to wilful exposure to danger by the life assured in the first 6 calendar months from cover commencement date.
Death due to war, enemy hostilities, commotion, insurrection, revolution, military seizure of power or the usurping of power or any act of any person acting on behalf of or in connection with any organisation with activities directed towards the overthrow by force of the government de jure or de facto or the influencing of terrorism or violence.
3 months waiting period for deaths due to natural causes for lives 65 years of age and below at last birthday.
6 months waiting period for deaths due to natural causes for lives above 65 years of age at last birthday.
6 months waiting period for suicidal deaths.
Waiting period starts when the life assured is added. If a dependent is added during a policy term the dependent will be subject to waiting period which will start from their respective cover start date.
The death benefit for children under the age of 14 is 75% of their sum assured.
The level of cash benefit cover remains uniform throughout the annual term of the Flexi Funeral Plan.
The policyholder can review their cover amount at policy anniversary, subject to OMLACZW’s cover limits.
Premium Payment Term
Premiums are payable monthly throughout the policy year, or until death of the life insured.
Maximum total sum assured of ZWL$500,000 for each life assured for adults up to 65 at last birthday.
No medical underwriting
The cover amount is paid out to the nominated beneficiary. Claimant must produce:
Original burial order
Police report if accidental death
Plan Termination Rules
The Flexi Funeral Plan terminates:
On the death of all lives assured.
On death of the policyholder, unless a beneficiary for ownership was nominated
If no premium has been paid at the end of the reinstatement period.
On the Policyholder’s request.
Child (Below 18 years)
1.50 per $1000 cover
Adult (Below 65 years)
1.80 per $1000 cover
Adult (Above 65 and below 75)
1.50 per $1000cover
Terms & Conditions
Offering is subject to full terms and conditions which are in the policy documents Underwritten by Old Mutual, 100 The Chase, Emerald Hill, Harare
Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.