New Nico funeral cover on market
Nico Life Insurance Company has partnered Goodwill Funeral Services to provide instant funeral services. The policy has been named Nico Life- Goodwill Funeral Plan and is available to people up to the age of 75.
Speaking during the launch of the product in Blantyre o n Wednesday, Nico Life Chief Executive Officer, Eric Chapola, said, unlike other existing funeral policies in the country that pay money after burial, Nico Life- Goodwill Funeral Plan will be providing the services instantly.
Chapola believes the policy will be a game changer in terms of how people manage funerals.
“We are offering two packages, Standard and Executive, where members will benefit by getting a coffin plus transportation to anywhere in Malawi. Death befalls in the most unplanned and unpredicted times. The funeral policies that are already in existence don’t give the money when you need it.
“But what we are providing for in this new cover is instant funeral services. For example, if you are part of the scheme and you pay the premiums to Nico and there is death in your family or the group, our partner Goodwill comes in and provide the casket and transport,” he said.
Goodwill Funeral Services Managing Director, Anderson Mankhusu, has assured Malawians that, once they buy the policy, they will be fully covered during a funeral.
“We have been planning for this product for close to two years and it aims at ensuring that there is dignity in the way people pay last respects to their loved ones. This product is also progressive because it will help each member to make plans on how they will depart,” Mankhusu said.
The product was launched under the slogan ‘Dekhani’ (Be calm), and premium can be paid monthly or quarterly, but the cover is given for a full year.
The Nico Life-Goodwill Funeral Plan restricts membership to those above the age of 75 years and also does not cater for death through suicide.
