in

NICO Life launches funeral policy for Malawians in diaspora in partnership with WiseChoice Insurance Agency – Malawi Nyasa Times

ADVERTISEMENT


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.

Deal sealed by Mapereka and Chapola

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”.

ADVERTISEMENT

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.

“We know that Malawians in diaspora have their own funeral schemes in their respective host countries but Kumudzi Diaspora Funeral Policy is unique as it is underwritten by renowned insurance company which is NICO Life.

“The product has significant claim pay-outs that cannot be easily replicated by any other scheme. It can pay up to K5 million to cater for all funeral arrangements; it covers up to 10 members related to the principal and claims can be settled within 24 hours provided all necessary documents are available.

“The time for Malawians to contribute for the repatriation of the remains of their beloved ones who have passed on abroad is gone — Kumudzi Diaspora Funeral Policy is there for them.”

WiseChoice Insurance Agency is a Malawian based insurance intermediary duly registered and authorized by the Registrar of Financial Services, of the Reserve Bank of Malawi, to transact insurance business in the country under the Financial Services Act, 2010.

Follow and Subscribe Nyasa TV:

Sharing is caring!





Source link

ADVERTISEMENT

What do you think?

5k Points
Upvote Downvote

Written by admin

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

Allowing your life insurance policy to lapse carries a very high cost

life insurance

Life insurers’ new business premium income rises 13% in FY22