Matseliso Funeral Plan

Matseliso Funeral Plan is an insurance product that is intended to provide affordable funeral cover for Standard Lesotho Bank customers. It guarantees that you and your loved ones will be laid to rest with dignity and respect. Underwritten by Alliance Insurance Company, this product is a family funeral insurance cover that has been tailored to fit the lifestyle and cultural considerations of Basotho in the event of death. With premiums from as little as M68.00, customers get a number of benefits including a cash pay-out of fifty thousand Maloti, a grocery benefit of up to three thousand five hundred Maloti as well as airtime up to M500.00 Maloti. With this plan, principal members are also able to cover their parents up to the age of 84. The plan provides for three family cover options: Silver, Gold and Platinum. There is also optional cover for your relatives for a small additional payment.

What does it offer you?

For an affordable monthly premium, the plan covers:

  • You and Your Spouse
  • Up to 7 of your children
  • Up to 4 Parents
  • Up to 2 of your extended family members (at an additional fee)

Silver option

Cover Type              Immediate Family

Monthly premium     M68.00

Pay-out                    M10,000.00

Assured Person Funeral

Benefit

Assured Person       Funeral Benefit        Accidental Death Cover      Grocery Benefit

Principal member        10,000                        10,000                                    2,000

Spouse                       10,000                        10,000                                    2,000

Student up to               7,000                          7,000                                      1,500

age 25 inclusive

Children 14 – 21          7,000                          7,000                                      1,500

 

years

Children 7 – 13         5,000                          5,000                                      1,000

 

years

Children 0 – 6           2,500                          2,500                                      1,000

 

Still Born Child          2,500

Gold option

Cover Type                Immediate Family

Monthly Premium       M120.00

Pay-out                     M20,000.00l

Death Cover

Grocery

Assured Person       Funeral Benefit        Accidental Death Cover      Grocery Benefit

 

Principal member       20,000                                    20,000                        3,500

 

Spouse                      20,000                                    20,000                        3,500

 

Student up to             15,000                                    15,000                        2,500

age 25 inclusive

 

Children 14 – 21         15,000                                  15,000                          2,500

Years

 

Children 7 – 13           10,000                                    10,000                        2,500

Years

 

Children 0 – 6              5,000                                       5,000                        2,500

Years

 

Still Born Child          2,500 

Platinum option

Cover Type                Immediate Family

Monthly Premium       M175.00

Pay-out                     M50,000.00

Assured Person       Funeral Benefit        Accidental Death Cover     

Principal Member        50,000                        50,000

 

Spouse                      50,000                        50,000

Student up to age

25 inclusive                25,000                        25,000

 

Children 14 - 21

Years                          25,000                        25,000

 

Children 7 - 13

Years                         15,000                        15,000

 

Children 0 – 6            10,000                        10,000

Years

Still Born Child            3 500

Who qualifies for a Matseliso Funeral Plan?

  • Any Standard Lesotho Bank Transactional Account Holder
  • The policy holder and the spouse must be under the age of 65 when the policy is taken.
  • All insured lives must be Lesotho citizens, or reside legally within the borders of Lesotho for a period of at least 6 months prior to taking this policy.

Additional benefits

Airtime Voucher: to the value of M500 on Platinum, and M200 on Silver and Gold. benefits will be issued within12 hours of submission of a valid claim in order to assist in arranging the funeral.

 

Continuation of Cover: Your cover will continue and premiums will be waived for a period of 12 months following the death or total and permanent disability of the principal member. Should the principal member be retrenched, cover will continue and premiums will be waived for a period of 3 months.

 

Accidental Death Cover: If any of your loved ones covered under the plan dies in an accident, the funeral benefit will be doubled. Accidental death cover is immediate and not subject to a waiting period. Your claim will be paid within 48 hours of submitting all the relevant documentation.

 

Waiting Period:  The waiting period is 6 months. Parents over the age of 72 are subject to 9 months waiting period.

 

Notes

 

• Policy holders should refer to the terms and conditions of the Funeral Plan policy. You can obtain a copy from your nearest Standard Lesotho Bank branch.

 

• A spouse is defined as any person married to the policyholder either by civil, tribal, common or customary law. Only one spouse is eligible to be assured as “spouse”. Other spouses will be covered as “other dependant relatives”.

 

• Standard Lesotho Bank and the Insurer reserve the right to adjust the monthly premium and benefits. However, they will give the policy holder 30 days ’notice of any changes.

How do I claim?

You claim at any Standard Lesotho Bank branch or by calling our Funeral Plan Claims centre on +266 2221 2221.

 

Visit your Standard Lesotho Bank branch for more information. Alternatively, contact our Funeral Plan HelpLine on +266 2221 2221 or visit www.standardlesothobank.co.ls.


Sharesocialicons

Online Banking

Select your online banking platform:

  • Rates & fees

  • Callback Form

     
    Saving your details - Please Wait...
    First name:
    Surname:
    Landline:
    Country code:
    Area code:
    Local number:
    Mobile:
    Country code:
    Area code:
    Local number:
    Email:
    Product of interest:
    Convenient time to call: