iLembe Chamber of Commerce and Momentum have teamed up to provide Chamber members with affordable employee risk benefit insurance RSS iLembe Chamber of Commerce and Momentum have teamed up to provide Chamber members with affordable employee risk benefit insurance2018-02-01 The iLembe Chamber and Momentum’s FundsAtWork was launched on 9 June 2016. A co-operation agreement between the Chamber and Momentum was signed by Sandy Govender, Momentum’s Head of Group Insurance and Xolani Gumede, the iLembe Chamber’s Vice President.
Momentum, a member of the MMI family, was the ideal partner for the Chamber to work with because of their unique and tailored solutions. FundsAtWork offers a range of insurance and umbrella provident fund solutions, post-retirement benefits, preservation of savings and conversion of insurance benefits on exit solutions.
The partnership has been in the making for some time but gained momentum and urgency following the taxi accident in Shakashead on 18 August 2015, which starkly highlighted the financial dependency and needs of employees and their dependents.
The Chamber accepts it as part of its mandate to not only contribute to the viability of businesses in the iLembe District, but also to enable entities to become responsible employers. Since employer sponsored employee risk benefits are often the only source of retirement savings and insurance cover that employees have, it is especially smaller employers that find it difficult to source risk benefits for employees, or find such benefits unaffordable, that will benefit from the FundsAtWork partnership.
The iLembe Chamber offering includes funeral and education benefits, lump sum death and disability benefits, as well retirement savings â€" an offer that responds to research findings that employees within the entry level salary brackets attach the highest value to benefits associated with funeral cover and child education.
Excitingly the FundsAtWork solution also provides pension backed home loan facilities to employees. Depending on certain criteria, housing loan guarantees are offered to members who need to buy or renovate a home, buy land to build a house or pay off another housing loan debt.
In addition, it is worth noting that any lead fee that might become payable to the iLembe Chamber will be passed onto the relevant Chamber member, in the form of a discount on membership fees.
For the different product options, click here.
To sign up please contact: Cobus or Dianne
086 5801383
087 354 6343 |
