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Malawi: Nico Life Launches Funeral Policy for Malawians in Diaspora in Partnership With Wisechoice Insurance Agency

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There have been many occasions when Malawians in diaspora and their relations back home teamed together to mobilize funds to repatriate their deceased loved ones for a dignified funeral and burial back in the dear motherland.

But such acts of love and solidarity — in which close friends do contribute — sometimes do not meet the targeted cost of repatriating their late beloved relations and are forced to bury them in their host countries.

That should be a thing of the past following the launch of Kumudzi Diaspora Funeral Plan by Malawi’s leading insurance company, NICO Life in partnership with WiseChoice Insurance Agency, which has also been designed to be flexible enough for the benefit of those left behind.

At the official launch on Thursday at NICO House in Blantyre, Chief Executive Officer, Eric Chapola unveiled that Kumudzi Diaspora Funeral Plan is set to pay out a cash benefit between K1 million and K5 million for funeral expense services following consistent monthly premiums of K6,500 and K30,000.

And it is set to accommodate up to 10 immediate and extended family members including the principal member and through WiseChoice Insurance Agency’s online insurance platform, premiums can be paid directly from overseas through local banks and mobile money transfers.

Chapola said this has been initiated as NICO Life, which also manages two local funeral policies — Tilinanu and Dekhani — “strives to ease the pressure of all Malawians regardless of where they are in the world”.

“We understand that the loss of a loved one is tough, and even more so when the death occurs outside Malawi,” Chapola said. “The Kumudzi Diaspora Funeral Plan ensures that your loved ones have a dignified funeral without stress of funding.

“At NICO Life, we understand the need to lay loved ones to rest with dignity. We are prepared to shoulder the burden of funeral expenses as you get the chance to pay your last respects with dignity.”

Chapola emphasized that as one of the oldest life insurance providers in Malawi, “NICO Life values ​​the commitment it made to being reliable in easing the lives of their clients”.

The partnership will also see WiseChoice Insurance Agency promoting other NICO Life product digitally which will be available to Malawians locally and those in diaspora.

WiseChoice’s Chief Executive, Benson Mapereka added credence that the policy will be of benefit to many, describing it as historic being the first of its kind in the country and unique in that it will be accessed on WiseChoice website and social media platforms such as Facebook.

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