This is a funeral product that pays up to K2 million in case of death. This is dependent on the package that is chosen during onboarding. The lowest package costing is K6900 per month.

A member who buys the policy (called the principal member) can add a spouse and up to four children (aged below 21 years) as immediate family. The client can further add four parents (those of the principal member and his / her spouse) plus up to six other extended family members.

• It is a funeral product for individuals.
• It allows flexibility in the planning of the funeral as it pays in cash.
• Claims are settled in under 48 hours upon NICO Life receiving required claim documents.
• The mode of premium payment is direct deposit/transfer into NICO Life’s account (through Airtel Money, bank debit orders, and Malawi Post Offices).
• The policy starts when you pay first premium and policy has 3 months waiting period for immediate family and 6 months for extended family
• Clients can only have one policy per person.

The policy has no surrender value, paid up value and cannot be assigned to a third party.