Fidelity Life Launches ‘Vaka Yako’ Housing Scheme (LEAD)
By Allan Mbotshwa
Fidelity Life has launched the “Vaka Yako” housing scheme to facilitate for citizens to become homeowners, the firm has announced.
The scheme is US dollar indexed and is open to a very wide range of people, owing to the flexibility by which one can pay his/ her premiums, according to their social standing. This allows for depositors to pay the amounts they can afford, as compared to other privately owned housing schemes policies.
“Fidelity Life Assurance has a very good track record of delivering stands to home seekers; we have previously developed Fidelity Life Park Manresa and Fidelity Southview. With Vaka Yako, we are giving the customer a chance to save and buy or develop a stand at any location of their choice,” said Edwell Gondo, Sales and marketing representative.
The initiative is the first of its kind, as the existing ones are extensively expensive making it relatively difficult for most people to acquire, renovate or build their own stand. The unique feature of this investment is that it allows you to purchase a stand from the pool of stands available anywhere around the country.
“Vaka Yako will help you grow your funds in a structured savings model, which is affordable and guarantees you the end product of owning a home. It is a unit-linked investment product, with a USD5000 death benefit for active members, and to top that, all premiums are paid in USD on a monthly, quarterly, or yearly basis,” said Gondo.
The policy has various sections that are depositor friendly, as there are mechanisms meant to cushion and protect. It also encompasses the issue of reinstating a client after defaulting from monthly, quarterly, and yearly premium payments that are within the first 12 months of default.