The ‘Celebrity Life Plan,’ as it is called, shall pay out an agreed benefit in the event of death during the policy year. ZAM members will be covered through this plan as a value addition for being affiliates of ZAM. PROFESSIONAL Life Assurance Limited has signed a Memorandum of Understanding (MoU) with the Zambian Association of Musicians (ZAM) aimed at providing a ‘life insurance cover’ to ZAM members.
The ‘Celebrity Life Plan,’ as it is called, shall pay out an agreed benefit in the event of death during the policy year. ZAM members will be covered through this plan as a value addition for being affiliates of ZAM.
Professional Life Assurance managing director Rajagopal Krishnaswamy said the MoU signified the beginning of a strong relationship with ZAM and a milestone in its quest to improve the wellbeing of ZAM members.
The MD further noted that Professional Life would continue to redefine the Life Insurance industry by being pioneers and providing a product suited to the various sectors within the Zambian economy.
“Mr. President, we believe that artists are playing a major role in growth of our economy, and as such their lives need to be covered. It is our hope that with the Celebrity Life plan they shall take our message to the masses through the various for a available to them; as we pledge to be “your friends for life,” Mr. Krishnaswamy emphasized.
He also said that for many years, a large section of the community had continued to be marginalized from taking up Life Insurance policies due to the restrictiveness of the industry’s current product offering.
“Mr. President, we pride ourselves as leading the pack in innovation and have consequently taken the initiative of reaching out to the various aggregators, cutting across different walks of life, in the quest to play our role in bringing life insurance to the Zambian community. Signing this MOU with The Zambia Association of Musicians today is our way of demonstrating that we are committed to this cause,” he revealed.
Meanwhile, ZAM president Njoya Tembo said the Association had for some time been longing for a Partnership that meets and protect ZAM members against life’s eventualities.
Mr. Tembo also revealed that as part of the association’s strategic plan, partnership building was one of their strategic objectives.
“The signing of MOU is a milestone and brings pride to my Executive and our general membership. This means a lot to us in that we are attaching Celebrity life plan and foresee a dignified Zambian Celebrity all over the country,” he emphasized.
The ZAM President has since urged musicians and associate members to cherish the Partnership by signing and paying subscription fee so that the partnership is affirmed.
“We would also like to thank professional life Assurance Limited for this great initiative. You went to great lengths to even tailor the Life insurance Policy just for us. We are confident that it will work out smoothly,” he said.