One of Malawi’s oldest insurance, investment and savings company, Old Mutual Life Insurance, has launched a new assurance policy known as Mlera Life Cover to enable more citizens access affordable life assurance.
Mlera Life Cover is a protection policy designed to pay out a cash sum when the person insured dies within the selected term of the policy.
A policy holder can choose any level of cover between K1.5 million and K150 Million and also choose a term of their choice ranging from 3,6,9,12 and 21 years.
The policy was launched on Saturday in the Capital Lilongwe at a colourful ceremony where patrons participated in aerobic exercises and listened to health talks by health experts.
Acting Managing Director for Old Mutual Life Insurance Company, Tawonga Manda, described the policy as a real life assurer.
“The policy is about one planning for his or her future after they die. It is about one being considerate about others, thinking about the incomes of their loved ones after he or she is out of the picture,” said Manda.
According to Manda, anyone between the age of 18 and 65 qualifies to access the policy as long as they have dependants who would need financial help in the event that the policy holder is gone.
He added that the aerobic exercises and health talks at the launch were part of the many activities aimed at preparing and encouraging people as they consider to take up the policy.
“We believe in the holistic of an individual. In promoting aerobics, we are inculcating a culture of fitness and strength in our prospective customers,” said Manda.