In Zimbabwe, millions choose funeral insurance over pricey medical cover
Summary
In Zimbabwe, many people choose to buy funeral insurance instead of health insurance because it's more affordable. This trend is largely due to the high costs and lack of access to healthcare, leaving many without medical coverage.Key Facts
- Funeral insurance is more common than health insurance in Zimbabwe.
- Most people cannot afford health insurance, which averages $200 a month.
- About 90% of Zimbabweans do not have health insurance.
- Funeral insurance is cheaper, with options starting as low as $0.75 a month.
- Only about 900,000 Zimbabweans are formally employed and can access employer-provided health insurance.
- Public healthcare options are limited by poor infrastructure and staff shortages.
- 72% of insured people in Zimbabwe have funeral insurance, while only 30% have health insurance.
- Around 60% of Zimbabweans live on less than $3.65 a day, making expensive health insurance unattainable for many.
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