NICO Life partners with MASM

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Insurer NICO Life and the Medical Aid Society of Malawi (MASM) have launched a group funeral scheme.

MASM clients are expected to enjoy cover of up to MK1 million from MK300, 000.

The contract cover which starts on 1st July is currently the largest funeral scheme on the market.

Speaking during the launch on Thursday in Blantyre, NICO Life Chief Executive Officer Eric Chapola disclosed that they set up the initiative to help ease the pressure that comes with death and allow customers the benefit of giving their loved ones a dignified send off.

“As a market leader, NICO Life’s relentless pursuit for emerging opportunities enables us to deliver value to our customers. Over the years, this pursuit for excellence in providing customer-centric solutions has enabled the company to show qualitatively superior growth under challenging environment,” Chapola said.

Under the policy claims will be settled through service provision making claim statement instant such that MASM members will have access to funeral benefits from selected funeral service providers.

In his remarks, Sidney Chikoti who is MASM’s Chief Executive Officer reiterated the Society’s commitment to effectively assist its customers.

"We believe that the death of a loved one should not be the cause of entering into expensive debt nor should our customers opt for a less dignified burial of a loved one due to financial constraints," Chikoti said.

He went of further to say that the MK1 million cover will be provided to VIP members while Executive members will get MK750, 000 and those on ECONO Plan will receive MK500, 000.

The benefits are to be paid in the form of services provided by a selected funeral services provider immediately after death occurs.

 

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