Photo: Mike W., Wikimedia Commons, CC BY-SA 2.0Your rights as a policyholder in Malawi
Your rights as a policyholder in Malawi
Short answerChecked 31 October 2026
In Malawi the Registrar's directives give insurance buyers these rights: a key facts statement before you buy (Disclosure Directive, 2018); a 10-working-day cooling-off period on life policies, with premiums refunded; contracts and notices in English or Chichewa, in a legible font of at least 12 points, with unfair standard terms void (Fair Treatment of Consumers Directive, 2024); free statements of a life policy account at least twice a year; claim deadlines (Claims Management Directive, 2014); and a free complaint, then an appeal to the Registrar (Complaints Handling Directive, 2024).
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- Key facts statement: premium, benefits and riders, exclusions, excess, claim settlement period after the discharge, cooling-off, guaranteed or discretionary benefits, rights of beneficiaries, complaints procedure (Disclosure Directive 2018). Information is free of charge.
- Cooling-off: 10 working days from the cover commencement date to withdraw from a life insurance contract without penalty, with premiums refunded (same Directive).
- Plain contracts: information, contracts and notices in English or Chichewa, simple and clear, at least 12-point font; an unfair term of a standard form contract is void (Fair Treatment of Consumers Directive 2024).
- Credit insurance: you choose the insurer from the lender's list of approved insurers; it is shown separately from the loan, with a key facts statement (paragraph 15).
A "financial consumer" under the Disclosure Directive includes individuals and businesses with an annual turnover of MK250 million or less.
During the policy and when you claim
- A statement of your life insurance account, free, at least twice a year on request (Fair Treatment Directive, paragraph 24).
- Claim deadlines: acknowledgement in 5 working days, discharge presented 7 working days after the documents, reasons for any rejection (Claims Management Directive 2014). See insurance claims.
- Your insurer must be licensed, and so must the broker or agent who sells you the policy (Insurance Act). See check an insurer.
- A free complaint, answered in 2, 10 or 30 working days, then an appeal to the Registrar (Complaints Handling Directive 2024). See how to complain.
Already insured?
Next step
Frequently asked questions
Can I cancel an insurance policy in Malawi?
A life policy can be cancelled within 10 working days of the cover commencement date without penalty, with premiums refunded (Disclosure Directive 2018). Other policies end according to their cancellation clause, which the key facts statement must show.
Must my insurance contract be in Chichewa?
Contracts and notices must be in English or Chichewa, simple and clear (Fair Treatment of Consumers Directive 2024).
Sources
- Financial Services (Disclosure Requirements for Insurance Services) Directive, 2018 — Government Notice No. 42, Gazette of 5 July 2018
- Financial Services (Fair Treatment of Consumers) Directive, 2024 — Government Notice No. 45, Gazette of 12 July 2024
- Insurance (Claims Management) Directive, 2014 — Government Notice No. 25, Malawi Gazette Supplement of 15 August 2014
- Financial Services (Complaints Handling) Directive, 2024 — Government Notice No. 46, Gazette of 12 July 2024
- Insurance Act, Cap. 47:01 (Act 9 of 2010, in force 1 October 2010) — MalawiLII consolidated text, Web Archive copy