NYARADZO Funeral Assurance Company is a true opportunist.
With the demise of a competitor (Doves), Nyaradzo have more than doubled their
funeral premiums. They are fully aware that without meaningful competition they are the king.
Most of their policy contracts allow for a 20% increase in premiums to cushion the policy holder from inflation. A monthly premium of $80 000 has been increased to $200 000 per month and this is for a funeral cover of $1 700 000.
Considering that the policy holder has to pay the premiums for 10 years, the premium of $200 000 is outrageous.
This company must realise that whilst the customers may have accepted these new high premiums, the same customers can evaporate to a competitor overnight when circumstances change.
Please revisit your monthly premiums.
Fed Up Customer,