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The governing party is planning to launch its own funeral policy scheme designed to benefit its members in good standing, as well as its millions of supporters, ANC treasurer general Paul Mashatile said in a statement.
The finance sector and and its practices have been a prominent campaigning point for the ruling party, which has promised to institute regulations to ensure that banks, lenders and other financial institutions treat their clients ethically and serve them transparently.
President Cyril Ramaphosa recently enacted the National Credit Amendment Bill – better known as the Debt Relief Bill – into law, aimed at protecting customers from crippling debt and predatory lending practices.
Mashatile's statement said the funeral policy scheme would include annual grocery vouchers, automatic settlement of annual ANC membership fees, free publications and a "citizen’s advice desk".
"The product includes funeral cover for the whole family and for a small additional premium the extended family can be included as well. Various packages have been designed to accommodate both the movement’s entry level and more affluent members," the statement said.
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The statement added that consumers were increasingly under pressure with the rising cost of living, and said the party hoped to offer a competitive product to its supporters and members.
"The initiative is motivated by the desire to ensure that ANC members and supporters are, after a lifetime of sacrifice and under conditions of ever-escalating costs attached to the funeral industry, able to provide for a dignified burial of their loved ones," said the statement.
No mention was made in the statement of who the partner or underwriter of the funeral policy would be. ANC spokesperson Pule Mabe told Fin24 that he would be able to share more details on Friday.
This is not the first time an organisation unrelated to the insurance sector has offered a funeral cover package. Soccer team the Kaizer Chiefs has previously partnered with Hollard Insurance.
