NICO Life has launched a funeral policy targeting Malawians in Diaspora aptly named, Kumudzi Diaspora Funeral Plan as a way of easing the dignified repatriation and burial after the death of individuals living abroad.
The Kumudzi Funeral Plan will pay out a cash benefit between K1 million and K5 million for funeral expenses following consistent monthly premiums of K6,500 to K30,000.
NICO Life Chief Executive Officer, Eric Chapola, said the company strives to ease the pressure of all Malawians regardless of where they are in the world.
“We understand that the loss of a loved one is tough, and even more so when the death occurs outside Malawi. The Kumudzi Diaspora Funeral Cover ensures that your loved ones have a dignified funeral without the stress of funding,” Chapola said.
He added that the plan has been designed to be flexible enough for the benefit of those left behind.
“At NICO Life, we understand the need to lay loved ones to rest with dignity. We are prepared to shoulder the burden of funeral expenses as you get the chance to pay your last respects with dignity,” he added.
The Kumudzi Diaspora Funeral Plan will be available through, WiseChoice Insurance Agency, a digital online insurance agency.
WiseChoice’s Chief Executive, Mr. Benson Mapereka, applauded the development, adding that the policy will be of benefit to many.
“It is often heartbreaking to hear of the challenges associated with repatriation and burial when a death occurs outside one’s country. The Kumudzi Diaspora Funeral Plan has been introduced to ease those challenges”, Mapereka said.
The funeral plan accommodates up to 10 immediate and extended family members including the principal member. Premiums can be paid directly from oversees, through local banks and through money transfers.
As one of the oldest life insurance providers in Malawi, NICO Life values the commitment it made to being reliable in easing the lives of its clients. WiseChoice will also promote other NICO Life products digitally which will be available to Malawians living locally and internationally.