Opening Hours

8:00 am to 4:30 pm

+265 1 822 699

nicolife@nico-life.com

3 Stewart Street

Blantyre, Malawi

Annuities

NICO Life offers very competitive annuity rates on the market.

Various options are available at retirement which include the following:

  1. Guaranteed Periods of :-
    • 0 Year Guarantee - providing the highest pension that ceases immediately on death of a pensioner;
    • 5 Year Guarantee - providing a higher pension that is guaranteed for a minimum period of five years with the pension ceasing if death occurs after the 5 year guaranteed period.
    • 10 Year Guarantee - providing a high pension that is guaranteed for a minimum period of ten years with the pension ceasing if death occurs after the 10 year guaranteed period.
  2. Self-funded Growth Pensions:- There is an option of electing a non-growth or growth pension as follows:-
    • Non-growth Pension - a pension that will remain constant throughout it's payment period.
    • Growth Pension - a pension that will grow by a specific percentage per annum selected e.g. 5%, 10%, 15% or 20%.

Group Funeral Cover

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.

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Group Credit Life Cover

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.

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Group Mortgage Cover

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.

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Please update your customer details with us at any of our branches.

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