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Nico Life, Sulom sign supporters insurance cover

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Yona Malunga

Super League of Malawi (Sulom) and one of the country’s leading insurance firms, Nico Life, have signed a whole life-time supporters funeral cover dubbed ‘Zampira Funeral Cover’ aimed at empowering fans and teams, among others.

The two parties unveiled the cover, which is in two categories, at Mount Soche Hotel in Blantyre Tuesday.

According to the arrangement, a supporter can buy a cover at K150 monthly and benefits can be as much as K100,000.

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Another cover costs K500 monthly and the funeral benefit is at K600,000.

Nico Life Chief Executive Officer Eric Chapola said Super League teams will benefit from the cover if their supporters register.

“We will be giving 20 percent contribution annually to the teams from the proceeds of the cover. Teams will also get a cut from the annual profit which Nico, as a company, will make through the deal.

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“This is the modern way top teams in Africa use to get support from their fans. We don’t want teams to keep suffering the way they do in the country at the moment. Issues to do with players boycotting matches due to unpaid bonuses will be a thing of the past,” Chapola said.

Sulom President Tiya Somba Banda disclosed that teams will paid based on their position on the log table.

“Apart from supporters and teams benefitting from the funeral cover, teams are going to be the biggest winners as the initiative will bring competition among teams in the league.

“It has taken us two years to seal this deal, as we started talking with Nico Life in 2019. We believe this is a win-win situation,” Banda said.

Well-known football supporter Yona Malunga, who is also former Mighty Mukuru Wanderers supporters committee chairperson, hailed Nico for considering both teams and supporters.

“This is the first time an initiative like this one is happening in the country. I am calling on supporters from different teams in the country to register with Nico and subscribe to the cover,” Malunga said.

Zampira Funeral Cover is a whole life funeral cover that pays a sum in the event of death of a life insured.

The product was designed and will be distributed in partnership with Sulom. The cover is designed to cover teams under Sulom, their affiliates and supporters.

Under the cover, Sulom is the policyholder and teams, their affiliates and supporters are members under the cover.

Interested supporters can subscribe by dialling *305# and follow instructions.

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