10 Best Companies For Life Insurance In Zambia3 min read

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Life insurance is a type of insurance that pays out a lump sum in the event of death. The term is commonly used to describe policies that cover the insured person, their spouse, and any children.

Life insurance is not just for people who are wealthy. Those who cannot afford to pay for life insurance can take out a loan from the company or use their savings as collateral for the policy.

Life insurance in Zambia is not considered an essential element of financial planning, it is not provided by financial institutions as part of their core products and services. In a nutshell, life insurance in Zambia is not as popular as it is in other countries.




The main reason for this is that life insurance in Zambia has been seen as an unnecessary expense. However, with the increase in poverty and unemployment, people are more willing to take up life insurance policies to protect their families and assets.

Zambia has a total population of 18 million people with a GDP per capita of $1,500 USD. Life insurance rates are relatively low in comparison to other countries because there are few risks associated with death in Zambia due to its high level of security and low crime rates.

If you are looking for the best life insurance companies in Zambia, below are few we found out from our research.

Zambia State Insurance Corporation Limited

Zambia State Insurance Corporation Limited (ZISCL) is a state-owned insurance company in Zambia. ZISCL offers life, health, travel, and general insurance products. In addition, it provides a range of non-life insurance services including risk management and reinsurance.




Makumbi Insurance

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The Makumbi Insurance Company is an insurance company based in Zambia. It provides life, health, and property insurance services. The company is one of the largest providers of insurance in Zambia. Makumbi has a wide range of products that focus on the needs of individuals and small businesses.

Jessons Insurance Agency Limited

Jessons Insurance Agency Limited is a company that offers life insurance and other related services. They have a branch in Zambia and are working on expanding their business to other African countries.

Nico Insurance Zambia Limited

Nico Insurance Zambia Limited has been in the market for more than 25 years, providing life and health insurance to people across the country. The company has enjoyed a steady increase in clientele since its inception in 1991.

Southern Insurance Brokers

Southern Insurance Brokers is one of the leading insurance brokers in Zambia. It provides insurance services to individuals, businesses and institutions in a wide range of markets. In order to provide the best possible service for their customers, Southern Insurance Brokers has set up a number of offices across the country and employs more than 100 people who offer customer support and help with claims processing.




Wright Insurance

Wright Insurance is one of the famous insurance company in Zambia, and one of the few companies to offer life insurance products in the country. It has been growing steadily since its inception.

The company offers life insurance policies for both individuals and businesses, as well as protection for property damage to vehicles and buildings. It also offers a range of other financial products such as credit cards, mortgages, investments, retirement plans, education plans and more.

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Sunningdale Insurance Brokers (Z) Ltd

Sunningdale Insurance Brokers (Z) Ltd is a life insurance company in Zambia. Their diverse range of products include auto, health, and travel insurance as well as pension plans and investment advice services. Sunningdale Insurance Brokers (Z) Ltd is currently one of the largest private sector insurers in Zambia with more than 1,000 employees and a market share of close to 50% making them one of the leading companies in the country.

Phoenix Of Zambia Assurance Company (2009) Ltd

The Phoenix of Zambia Assurance Company (2009) Ltd is a company that offers life insurance to its customers.

Madison Insurance Company Zambia Ltd

Madison Insurance Company Zambia Ltd is a leading insurance company in Zambia with over 25 years of experience. They are a multinational company that offers insurance services to individuals and businesses.

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