For many young Namibians, building a successful career goes hand in hand with carrying significant family responsibilities. 

While they are focused on growth and financial independence, many also act as de facto breadwinners, supporting parents edging toward retirement, younger siblings still in school, and extended family members with ongoing healthcare needs.

Geoffrey Namaseb, sales manager at Standard Insurance Brokers Namibia, said this is more common than many realise. 

“Many young professionals are the backbone of their families,” he said. 

“Yet, few have the savings needed to absorb sudden financial shocks, particularly the unexpected passing of a loved one – an event that can place families under immense financial and emotional pressure,” he added.

Rising costs 

Traditional funerals remain significant cultural events, but the rising cost of living is prompting families to reassess how they plan for such expenses.

Increasingly, households are engaging in more open conversations around funeral planning as part of broader risk management efforts.

“Loss can strike without warning,” Namaseb noted. 

“What we are seeing now is a shift toward proactive planning, with young people in particular recognising that they must prepare for responsibilities beyond their own immediate needs,” he added.

This shift is reflected in Standard Insurance Brokers’ data, which shows a noticeable increase in younger Namibians taking out funeral policies – breaking the stereotype that only older individuals seek funeral cover. 

“Young people are often financially responsible for multiple generations,” Namaseb stated. 

“It’s only natural that they are starting to protect themselves and those who rely on them,” he said.

Namibian realities

It is against this backdrop that Standard Insurance Brokers introduced the Flexible Funeral Policy, designed to accommodate the realities of Namibian families. 

The policy allows clients to cover an unlimited number of family members under a single policy, including spouses and parents, as well as extended relatives who depend on the main member for support. 

Cover ranges from N$5 000 to a maximum of N$150 000 on third party policies for extended relatives, depending on the family’s needs.

Namaseb explained that rising costs require solutions that provide stability.

“With the financial pressures families face today, our aim was to offer a funeral plan that provides flexibility and meaningful relief during difficult times,” he added.

A key feature of the policy is its built-in support for clients who may experience short-term financial strain. The cover remains active even if a premium is missed. Instead of lapsing, the benefit adjusts gently in proportion to any premiums missed within the six months leading up to a claim – helping households maintain a level of protection during challenging periods without losing their safety net entirely.

Financial resilience

Namaseb believes this kind of product design is essential in today’s economic climate.
“At Standard Insurance Brokers, our priority is ensuring that Namibian families remain protected,” he said. 

“By recognising the evolving role of young breadwinners and the pressures they carry, we are building solutions that support longterm financial resilience,” he stated.

“When families are prepared for life’s uncertainties, they can navigate loss with dignity rather than financial distress. That peace of mind is invaluable,” he said.

-newsroom@nepc.com.na