Old Mutual takes Timba and Tsogolo policies to the masses

In a bid to increase access to newly launched Timba and Tsongolo policies, Old Mutual has intensified marketing activation to all cities across the country.

A customer registering the policy
Mzuzu residents witnessing the event

Timba Family plan and Tsongolo Saving plan are designed to meet the needs of Malawians and instilling a saving culture .to ensure that Malawians live a better life and have something to rely on in case of emergencies such as death.

Old Mutual Marketing and Communications Manager Patience Chatsika said the company has embarked on awareness campaign to reach out to all people with the two products.

“We want to be closer to the customer, providing them first-hand information, it’s our first time to be in the retail market (non digital) therefore face to face makes more sense as part of our distribution strategy for these products,” Chatsika said.

Commenting on customer’s response towards the products, Chatsika said the company was satisfied with the response from general public as evidenced by the number of people buying the policies.

“Response is positive. People are buying. However we need to enhance, we need to enhance our premium collection proposition we are working towards closing all gaps,” she said.

She said the two are unique in the sense that its premiums are low, and time it takes to pay out claims is unmatched, suitable for Malawian .

“ The policies allows members  to withdraw without disturbing the investments, cashback on timba after 3 years on no claim, serviced at their work place by a dedicated financial advisor,” she added.

The Timba family plan is a life Insurance that provides you and your registered family members with funeral cover ranging from 150,000 to K1, 500,000.

Tsongolo Savings Plan offers two savings pockets as part of one Plan, with a single monthly premium. It has both the long pocket and a short term pocket.

To register for Timba family plan you must be between 18 and 65 years and one must pay a monthly premium of K1755.00 and for Tsongolo Savings plan the monthly premium is K 5,000.

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