MASM Chief Executive Officer, Sydney Chikoti, says the money has been increased from K300 thousand after realizing the high cost of living.
“We believe that death of a loved one should not be a cause of entering into expensive debt nor should our customers opt for a less dignified burial of a loved one due to financial constraints,” he said.
His NICO Life counterpart, Eric Chapola, says the cover will carter for transport, embalm and burial effective 1 July, 2020.
“As a market leader, NICO Life’s relentless pursuit for emerging opportunities enables us to deliver value to our customers. Over the years, this pursuit for excellence in providing customer – centric solutions has enabled the company to show qualitatively superior growth under challenging environment,” he said.
The contract cover provides K1 million for VIP members, K750, thousand for executive members and K500 thousand for ECONO plan members.
The benefits will be paid immediately death occurs in the form of services provided by Goodwill Funeral Services.