Sulom,NICO Life sign partnership in funeral cover plan


By Antony Isaiah Jr:…

It’s quest to curb the challenges that players, officials, even supporters face when the dark cloud falls, the Super League of Malawi has on Tuesday, signed a partnership with the leading insurance services provider, NICO Life for a Funeral cover dubbed Sapota Funeral plan

According to NICO Life Chief Executive Officer, Erik Chapola said the Sapota Funeral Policy will cover players, officials, supporters and all other people that are interested in football.

He said the interested person can register with K150 Kwacha or K500 Kwacha per month and the K150 monthly cover will give the supporter K150,000 while a 500 monthly Cover will give the supporter K600, 000.

“The idea is that when a Funeral happens within a football fraternity, Nico Life must come forward and pay the benefits within the 24 hours. We don’t want to hear that this player has died and they are looking for a coffin, Nico Life will come forward as long as premiums have been paid and pay the benefits to those people that will face the death. It is for everyone, supporters, as an official, as a player, can buy the policy,” said Chapola.

The partnership will see the Super League of Malawi getting a commission of 20 per cent and subsequently, the Sulom shall distribute the funds realised from the deal to all the 16 Super League Clubs according to the log table.

“The benefits is that the money that we will get as Nico Life, Part of it will pay Sulom as commission but also at the end of year, we will do an assessment, if we have made profits, we will share those profits. This product will uplift football teams in Malawi, they should stop begging and support themselves through contributions of this product.

“We are targeting as many as subscribers as possible, the more they join the policy, the better the assistance will be to our football teams in Malawi,” he added.

Making his remarks, Super League of Malawi President, Tiya Somba Banda said the cover will stiffen the competition in the league ad teams will battle for the better share and it will also increase the team’s financial power.

“Funeral cover as business, their returns will go back to our the players. Super League of Malawi is an umbrella of the 16 teams and the business venture should benefit all the teams. At the end of day, Sulom will get share from Nico for selling the policy. And also we ate going together share of this policy because we are the ones behind this cover, so the profits will be distributed to all the 16 teams according to the Log Table.

“So this means that the top teams will get more the other teams. We believe that this will not only help the clubs to grow financially but also increase the competitiveness of the league as Clubs will be fighting for position to realise more revenue from the policy. Basically, this is a product that is here forever, even if Tiya Somba Banda is out of Super League, it will remain there,” said Somba Banda.

To register for the policy, one just to dial *325# and follow the instructions.

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