Isago Educator plan is designed to help our clients save for their children’s education. The client is allowed to do partial withdrawals on their investment to pay school fees before the policy reaches maturity.
There are options to choose level premiums, premiums escalating at 5% or 10% as well as any ad hoc increases. The policy is subject to a minimum policy term of 10 years. This policy invests in the Educator Fund.
The policy also includes an in-built waiver of premium on disability whereby Botswana life will take over premium payments in cases where the policyholder gets disabled before the end of the term or 70 years whichever is earlier. The policyholder also has an option to choose a Funeral benefit that covers the policyholder only with cover ranging from P15,000 to P25,000.
If the Isago Educator policyholder passes on before policy maturity, Botswana Life pays the greater of amount of investments made less any partial withdrawals to date and investment value at the time of death plus the funeral benefit (if chosen).