Malawi: Nico Life launches a funeral policy for Malawians in the diaspora in partnership with the insurance agency Wisechoice

There have been many occasions where Malawians in the Diaspora and their connections back home have come together to raise funds to repatriate their deceased loved ones for a dignified funeral and burial in their beloved homeland.

But such acts of love and solidarity – to which close friends contribute – sometimes do not cover the targeted cost of repatriating their deceased loved ones and are forced to bury them in their host country.

This should be a thing of the past after the launch of the Kumudzi Diaspora Funeral Plan by Malawi’s leading insurance company, NICO Life, in partnership with WiseChoice Insurance Agency, which was also designed to be flexible enough to benefit those left behind.

At the official launch on Thursday at NICO House in Blantyre, Chief Executive Eric Chapola revealed that the Kumudzi Diaspora Funeral Plan is set to pay out a cash benefit of between K1 million and K5 million for services funeral expenses after constant monthly premiums of K6,500 and K30,000.

And it’s designed to accommodate up to 10 immediate and extended family members, including the primary member and through WiseChoice Insurance Agency’s online insurance platform, premiums can be paid directly from overseas via local banks and mobile money transfers.

Chapola said it was launched as NICO Life, which also runs two local funeral policies – Tilinanu and Dekhani – “is working to ease the pressure on all Malawians, wherever they are in the world”.

“We understand the loss of a loved one is difficult, and even more so when the death occurs outside of Malawi,” Chapola said. “The Kumudzi Diaspora Funeral Plan guarantees your loved ones a dignified funeral without funding stress.

“At NICO Life, we understand the need for our loved ones to rest with dignity. We are prepared to shoulder the burden of funeral expenses while you have the chance to pay your final respects with dignity.”

Chapola pointed out that as one of the oldest providers of life insurance in Malawi, “NICO Life appreciates the commitment it has made to be reliable to make life easier for its customers”.

The partnership will also see WiseChoice Insurance Agency digitally promote other NICO Life products which will be available to Malawians locally and those in the Diaspora.

WiseChoice Managing Director Benson Mapereka added that the policy will benefit many, describing it as historic being the first of its kind in the country and unique in that it will be accessible on WiseChoice’s website and social media platforms. social media such as Facebook.

“We know that Diaspora Malawians have their own funeral schemes in their respective host countries, but the Kumudzi Diaspora funeral policy is unique as it is underwritten by a renowned insurance company, NICO Life.

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

“The time for Malawians to help repatriate the remains of their loved ones who died overseas is over – the Kumudzi Diaspora Funeral Policy is there for them.”

WiseChoice Insurance Agency is a Malawi-based insurance intermediary duly registered and licensed by the Registrar of Financial Services at the Reserve Bank of Malawi to conduct insurance business in the country under the Financial Services Act 2010 .

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