NICO Life operates a defined contributions pension scheme arrangement in line with the Pensions Act 2010 whereby both the employer and employee contribute. This arrangement is a very transparent and most straightforward pension scheme and it allows the members to directly benefit from the investment performance of the fund.

Apart from the defined contributions pension scheme arrangements, NICO Life Insurance Company Limited also offers group life assurance schemes which provide for death-in-service benefit to the employees' dependents or beneficiaries in the event of death whilst in employment.

NICO Life Insurance Company Limited also administers Managed Funds. Managed funds are segregated funds which are administered on defined contribution arrangement.

The funeral cover is provided to an individual in the event of death from whatsoever cause except by war whether declared or not, from warlike activities, civil war, insurrection, riot, civil commotion, or acts of violence originating from any political or civil unrest subject to the contract.

NICO Life offers very competitive annuity rates on the market.

This product is offered to banks or micro-finance lending institutions to cover loans taken by borrowers in the event of death. This product pays on death of a borrower the outstanding loan amount at the time of his/her death.

NICO life Assurance Company Limited also provides life assurance cover on mortgage loans. The amount of life assurance cover will be the amount of outstanding loan at a particular time.

The key objective of the gratuity fund is to maximize income while ensuring that the funds will be available to pay liabilities as and when they fall due.

 
TOP