Members of Community Savings and Investment Promotion (Comsip) in Mzimba have praised the new funeral insurance scheme, saying it will ease their financial burdens in times of sorrow.
They were speaking at a meeting in Mzimba on Friday where Comsip officials introduced new products.
On September 5 this year, Comsip and Nico Life Insurance Company launched the funeral scheme in Lilongwe.
Each member contributes K600 a year, but Nico Life promises to transfer K75 000 to the bereaved family.
Beneficiaries from Mzimba Women Forum described the scheme as ideal considering that death is an unforseen occurence.
“I find the scheme as very important. When death strikes, there are huge costs for food, transport, coffins and other basics. This is going to ease the burden,” said Constance Nkhata.
Comsip information, education and communication officer Emmanuel Muwamba said the funeral plan is convenient for members who cannot afford basic necessities for a funeral.
Comsip will soon launch a company called Comsiv to help members and clusters affiliated to Comsip access business loans, according to Muwamba. n