Nico Launches Funeral Insurance

Nico Life Insurance Company has partnered Goodwill Funeral Service Company on funeral insurance called 'Dekhani" which will be offered to Malawians below 75 years through groups and individual schemes.

NICO Life CEO Eric Chapola said the new plan would give people instant help in times of bereavement.

“For the first time in Malawi we’re bringing a product where when you pay for a premium you don’t get cash as a benefit but you get a service. When there’s a death in the family or organization, Goodwill Funeral Service will give you a coffin, transport to anywhere in Malawi and any other service that you may require at the funeral,” said Chapola.

Goodwill Funeral Service company managing director Damson Mankhusu said people should expect quality service.

“We went around in our neighbouring countries to learn how people are doing the same. So the service we’re bringing is international standard; it is unlike any other service on the market,” he said.

The plan has standard and executive cover. In the first cover each member will pay a minimum premium of K2, 000 per month and they will get a standard coffin plus transport.

While in the executive cover, customers will pay a minimum of K3, 000 per month or K7, 000 if extended to family members and will get a casket plus transport.

People who commit suicide will not get the service.