- The package ensures students carry on learning after the death of parents or guardians
Zimbabwe’s largest life insurance company by policyholders, Econet Life Private Limited, has revamped its education insurance cover product to ensure continuity of school-going children’s education when a parent or guardian passes on.
The insurance product, called Enda Education Cover, was originally launched four years ago but was only limited to individuals. The new package has now been aligned with the current economic environment.
Econet Life’s Chief Life and Principal Officer Mr. Godwin Mashiri said the company is introducing the enhanced Enda Education Group Cover to help reduce the number of learners who drop out of school due to the death of a parent or legal guardian.
“Econet Life is contributing towards ensuring inclusive and equitable education and learning opportunities for all Zimbabweans through its innovative insurance products,” he said at the product launch in Harare yesterday.
The reinvigorated insurance product has now been extended to schools to ensure that students’ fees are settled directly to the school by Higherlife Foundation, the administrators of the Enda Education Group Cover programme.
Mr. Mashiri said Enda Education is designed to bridge the gap and ensure continuity of students’ studies by taking the responsibility of disbursing funds for payment of school fees every term.
“We have realised that thousands of students drop out of school each year due to lack of school fees when they lose a parent or a guardian. This is why we came up with an improved Enda Education Group Cover so that when a student loses a parent or guardian they are able to continue with their studies,” he added.
A recent report by the United Nations Children’s Fund revealed that 68% of pre-primary aged children (3-5 years) and 47% of adolescents (13-18 years) were not in school in Zimbabwe last year due to a number of reasons, including the death of parents, household poverty and early child marriages, among other reasons.
Mr. Mashiri indicated that the new Enda Education Group Cover is still available to all parents and registration will be done through the school. Premiums will range from as little as 1% of the total school fees and the pay-outs per term will be administered by Higher Life Foundation.
Higher Life Foundation is the Econet Wireless group’s social investment arm, which has over the years provided access to education for 300 000 orphaned and vulnerable children. It has also given academic support to highly gifted and talented students through the Joshua Nkomo Scholarship Fund.
Econet Life Private Limited is a diversified insurance company that offers a wide range of life assurance products and services, including funeral cover. It offers affordable premiums starting from as low as $0.50 per month, with pay-outs of up to US$5,000.