According to research conducted by the Bureau of Market Research, an estimated 11.9 million South Africans fall into what Metropolitan defines as the ‘foundation market’ – an underserved market that includes grant recipients who supplement their income through informal work, domestic workers, seasonal earners, and small-scale entrepreneurs navigating the gig economy.

Notably, nearly 40% of this group are under the age of 40, a reminder that financial exclusion is not only a generational issue but a present reality for millions of young South Africans.

Many cannot sustain traditional fixed monthly premium insurance products. When income is disrupted and payments are missed, policies lapse and years of contributions are lost. According to Metropolitan data, nationwide insurance churn is estimated at R6 billion per year.

Metropolitan’s new offering called the No-Lapse Funeral Growth Plan is seeking to change the tide on this issue. The innovative digital insurance product is specifically designed for South Africans whose income varies from month to month; and introduces a much more flexible approach to funeral cover that allows consumers to start their cover, pay when they can, and build protection over time, without the immediate risk of losing their policy due to missed payments.

The No-Lapse Funeral Growth Plan is built around a single principle: cover that can never lapse once you have reached a particular threshold, for you and your immediate family. Consumers can top up as they see fit such as when they have extra income, and every additional top-up payment grows the cover amount.

The No‑Lapse Funeral Growth Plan is delivered through a fully digital, mobile-first experience, with onboarding and policy management enabled via WhatsApp, making it easy for customers to access, manage and grow their cover.

“This is a deliberate design choice given that smartphone penetration far outpaces access to banking apps or broker networks in the foundation market that we are addressing,” said Peter Tshiguvho, CEO of Metropolitan.

Customers start cover with a minimum payment of R200 and contribute when they can build protection for themselves and their immediate family over time.

There is no debit order, instead, the product is designed to accommodate flexible contributions so that premiums are not missed that lead to policy lapses.

Once a client contributes a cumulative R1 500 within the first 12 months, their cover is permanently secured, regardless of future payment gaps; and every additional top-up payment above that threshold grows the cover amount.

“Traditional insurance was designed for a predictable income with a salary that arrives on the same date every month. Unfortunately, that is not the financial reality for millions of South Africans and this No-Lapse Funeral Growth Plan is insurance that works the way people actually live,” added Tshiguvho.

Payments can be made at over a dozen major retailers including Shoprite, Pick n Pay, Checkers, PEP, Spar, Boxer and Makro, among others, through the Pay@ network.

Another unique feature of the plan is that it also includes a built-in referral programme: existing clients earn additional cover, at no cost to themselves, each time someone they referred makes a payment into their own plan, creating a peer-driven growth model uncommon in the local insurance market.

Said Tshiguvho: “This product is part of Metropolitan’s broader drive toward financial inclusion in the foundation market segment. The data shows that they want to save and plan for their futures but just need products that reflect how they actually earn and live. And when families are protected, it makes communities stronger. We believe products should reflect the reality of people’s lives.”

The No-Lapse Growth plan is currently available and to find out more, WhatsApp “No-Lapse” to 0860 724 724 or visit www.metropolitan.co.za/funeral/No-Lapse.

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