NICO Life, UCSSACCO launches a new Affordable Funeral Cover product for Members
NICO Life has partnered with the United Civil Servants SACCO (UCSSACCO) to unveil an innovative Funeral Cover Product tailored specifically for UCSSACCO members.
The partnership underscores a shared commitment to easing financial burdens for civil servants while promoting a culture of saving and financial stability.
Designed with affordability and member needs in mind, the new Funeral Cover ensures that UCSSACCO members can access tiered, cost-effective insurance solutions to defray funeral expenses in times of loss.
The product will among other things, enables members to focus on savings instead of borrowing for funeral costs, fostering a more secure financial future for themselves and their families.
Speaking at the launch in Lilongwe, NICO Life, Chief Executive Officer, Wise Chigudu, highlighted the significance of the partnership which he said the collaboration reflects NICO Life’s unwavering commitment to providing innovative and affordable insurance solutions that truly address the needs of Malawians.
“By alleviating the financial strain associated with funerals, this cover offers UCSSACCO members peace of mind, knowing they are supported during some of life’s most difficult moments. We are proud to work with UCSSACCO to contribute to their mission of improving members’ welfare.” said Chigudu.
He added that, “This launch marks a new chapter in providing affordable, impactful financial solutions for Civil Servants in Malawi, solidifying the partnership between NICO Life and UCSSACCO as a model for addressing critical community need,”.
The funeral cover provides flexible premium options, ensuring accessibility for members across different income brackets. It also extends benefits to members’ immediate families, including spouses, children, and parents.
UCSSACCO, Chief Executive Officer, Francis Waliwa emphasized the alignment between the SACCO’s goals and the new product.
“As UCSSACCO, our priority is to empower our members to build financial resilience. This product is a significant step in that direction, as it eliminates the need for emergency borrowing to cover funeral expenses. “We are proud to collaborate with NICO Life to deliver a solution that is not only affordable but also profoundly impactful for our members’ well-being.” explained Waliwa.
With over 76,000 members, UCSSACCO stands as a pillar of financial empowerment for civil servants in Malawi.
This partnership with NICO Life reaffirms its commitment to delivering value-added services that enhance the membership experience.
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