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By: Mayamiko Phiri.
Nico life insurance has launched a new policy, sapota mapeto funeral cover in a quest to minimize challenges football fraternity faces when the death occurs.
The memorandum of understanding (MoU) between Nico life insurance and Super league of Malawi ( Sulom) were signed in Blantyre on Tuesday, 18th October.
Speaking at the event Nico life insurance chief executive officer Eric Chapola highlighted that the Sapota funeral cover is meant for supporters, footballers, officials, and all football fraternity in the country.
Chapola further stated that by contributing K150 and K500 monthly, one is entitled to a funeral cover of K150,000 and K600,000 respectively when the death occurs.
In his remarks Sulom president Tiya Somba Banda pointed out that the initiative will go a long way in uprifting the standards of football game in the country.
As the returns will be going back to football clubs, as Sulom will be getting a commission.
And that money realized from the venture will be distributed to all 16 teams in super league according to the log table.
For registration one is supposed to dial *325# using any cell phone.
