NICO Life has launched a promotion that will see members of its Tilinanu Funeral Cover winning a full year of not paying premiums.
Launched in 2019, Tilinanu Funeral Cover is an affordable individual cover that pays up to K1 million in the case of death in an effort aimed at minimising challenges that arises during the grieving period.
To encourage participation, NICO Life has launched the promotion from which five winners will be determined from a draw held after three months — earning each of them a year’s worth of premiums for free.
NICO Life CEO Eric Chapola
NICO Life Chief Executive Officer, Eric Chapola said the company is committed to always finding innovative ways to benefit their clients.
“We have very loyal clients who have been consistent with their premiums,” Chapola said. “This initiate aims to assure them and new clients that tilinanube (we are still with you) during the tough time of loss.”
He added that the introduction of the USSD platform (*325#) in 2021 has yielded positive results from clients.
“Clients no longer have to visit our offices to register or get updates on their policies. We have had good reviews from individuals who have been able to buy the policy, pay premiums and follow up on claims among other services on the platform”, Chapola said.
At its launch in 2019, Chapola had said the company has said the Tilinanu Funeral Policy was created as one way of creating opportunity to all Malawians living in both rural and urban areas to have an advantage of accessing or buying the policy cover which will be helping them once death occurs.
The policy was designed into three categories which include Silver, Gold and Platinum.
“NICO Life always understands the challenges that occur when people lose their loved ones,” he had said. “Most of the times death happens when family members have no idea of where they can get money, so it is this reason that has prompted us to come up with this new funeral product in which we’ll be assisting people by providing funeral expenses cover in the form of money for an individual, their families as well as the dependents.
“The money is going to be paid in a shortest time of five hours because its main idea and intended purpose is to make sure that the money is used at the funeral and not afterwards,” he had said.
In 2018 NICO Life partnered with Godwill Funeral Service Company to introduced the ‘Goodwill Funeral Plan’ which affords corporates and defined groups amongst others to provide coffins, transportation and other funeral services.
NICO Life — which emphasizes its commitment to being reliable in easing lives of its clients — is a subsidiary of the Malawi Stock Exchange–listed financial services providers, NICO Group, which celebrated its 50th Anniversary last year of doing business in Malawi.
