United Insurance to Give Funeral Insurance
United Insurance S.C. (UNIC) after securing an approval from the National Bank of Ethiopia (NBE) started rendering a Funeral Insurance Cover.
According to Zafu Eyesusework, board member of UNIC, the company’s service is one for the first time that distinguishes funeral insurance form accident insurance cover which is being practiced now.
The new service will allow the company to provide from 10,000 Birr to 30,000 Birr as an insurance cover for funeral costs.
Nonetheless, according to Fortune, the cover will include grandparents, grandchildren, brothers, sisters, uncles and aunt.
Commenting on this Deputy General Manager of Life and Medexin at the company, Azaleche Yirgu noted the UNIC will only cover the funeral cost of the client’s family that live with him. She furthered the service will only be rendered for clients living in Addis Ababa.
The insurance service has some similarities with Idir, an Ethiopian traditional association established among neighbors or workers for the purpose of raising funds for emergencies.