NICO LIFE has today launched a new funeral cover for football supporters called “Supporter Funeral Cover”, the first of it’s kind in Malawi.
Chief Operations Officer for NICO Life Dr. Lilian Moyo has described the policy as historical during it’s launch at Mount Soche hotel in Blantyre.
Moyo said the policy has been introduced following engagements with the Supper League of Malawi-SULOM for the past two years to reach out to supporters with affordable life cover policies as well as provide a platform for them to support their teams.
Meanwhile Chief Executive Officer for NICO Life Eric Chapola has disclosed that with K 150 to K500 monthly premium, a supporter will be covered for K150,000 to K600,000 respectively.
According to Chapola, SULOM will be earning income through commissions and shared profits with the insurance company on the policy.
Meanwhile SULOM President Tiya Somba Banda has hailed NICO Life for launching the policy describing it as a game changer in promoting football.
According to Banda, SULOM intends to turn football into a vibrant business and the launch of the product today is the first step towards achieving this goal.
Banda said SULOM will be working hand in hand with NICO in managing the policy where the income from premiums will be invested and the profits will be shared with the 16 clubs in the Super League based on their performance on the log table.
