Nico Life Insurance has introduced ‘Tilinanu’ individual funeral policy which seeks to provide an affordable efficient solution when the uncertainties in life occur. Nico Insurance Chief executive officer {CEO} Erick Chapola said the policy is a response to hurdles and hassles in times of funeral occurances.

“Various studies indicate that 75 percent of the emergencies are related to the cost of funeral arrangements, hence, the need for the individuals, families and loved ones to be covered by this product” said Chapola.

The funeral policy is categorized into silver, Gold and platinum, offering up to K1 million in case of death, as the minimum premium of MK800 is paid per month and claims are settled within 48 hours upon the company received all the required documents.

Prior to the individual funeral policy, Nico had the Goodwill funeral policy plan which was exclusive to corporate firms.