Civil servants have protested strongly about Nyaradzo Funeral’s latest announcement to increase its monthly premium to ZWL$12, 771, 15 with effect from 1 March 2022.
The premium charges have risen by over 500% for a policyholder who had been paying ZWL$200 and now paying ZWL$12000.
“Dear [Censored Name] in order to preserve the value of your funeral policy benefits, with effect from 1 March 2022 your monthly premium will increase to ZWL$12, 771, 15. For any adjustments kindly visit your nearest Nyaradzo Life Assurance Company Office,” the company said via a message to its clients.
A civil servant and policyholder Loice Govo said, “It is very unfair and selfish of Nyaradzo because even if the government increases the salary, we are still going to continue getting the same previous salary because Nyaradzo charges have risen very high.”
Nyaradzo Group, one of Zimbabwe’s popular funeral service providers might have been affected by the continuously depreciating Zimbabwean dollar and these premium hikes come as a way to cover the cost of funerals.
The charges come at a time when salary increment talks between the government and civil servants are underway.