MASM customers no longer must worry about the financial burden that death brings thanks to NICO Life and MASMs group funeral scheme arrangement. Opening remarks by the Bancassurance Manager Steven Kanyoza, at the signing ceremony stated that the arrangement is the largest funeral scheme on the market where MASM clients enjoy cover of up to MK1million, having increased from MK300, 000. He quoted an African proverb that states, “If you want to go fast, go alone. If you want to go far, go together."
Announcing the development at a signing ceremony NICO Life CEO Eric Chapola explained that the insurer set up the initiative to help ease the pressure that comes with death and to allow customers the benefit of giving their loved ones a dignified send-off.
“As a market leader, NICO Life’s relentless pursuit for emerging opportunities enables us to deliver value to our customers. Over the years, this pursuit for excellence in providing customer-centric solutions has enabled the company to show qualitatively superior growth under challenging environment’ he said.
Under the policy, claims will be settled through service provision making claim settlement instant such that MASM members will have access to funeral benefits from selected funeral services providers.
In his remarks MASM CEO Sydney Chikoti, reiterated the societies commitment to providing solutions that speak to the needs of their customers, “we believe that death of a loved one should not be the cause of entering into expensive debt nor should our customers opt for a less dignified burial of a loved one due to financial constraints.” MASM will always take care of its clients and therefore over the years they say, “you are with us from cradle to grave” and we now endeavour to do it better with NICO Life, said Mr Chikoti
The contract cover which starts on 1st July 2020 provides the following benefits; MK1million for VIP members, MK750, 000 for Executive members and MK500, 000 for ECONO plan members.
The benefits will be paid immediately death occurs in the form of a service provided by a selected funeral services provider, in this case “Goodwill Funeral Services”.