Buying a House
Property is among the best and most significant investments one can have.
Botswana Life wants to ensure that in case you die after acquiring a loan or mortgage, your loved ones will not be burdened with mortgage payments. We have products that provide protection for individuals who have purchased or are in the process of purchasing property through a bank or other financial institutions. Any of our life cover products can be ceded to the bank so that in the event of your death, the pay-out from the policy will repay the outstanding balance on your loan. The following products would be suitable for this purpose: Motlhokomedi Life Cover, Mortgage Protector, Professional Term Assurance, Mompati with Life Cover and Offshore Gold with Life Cover. In addition, Motlhokomedi Life Cover and Mortgage Protector can be purchased by a couple on a joint life basis so that the benefit is payable when the first spouse passes away.
The balance of the life cover in excess of the outstanding loan will be paid into your estate or to your beneficiaries according to your nomination form.