In June 2013, Botswana Life launched a unique prepaid card called Liferewards. The card, which is underwritten by BancABC and supported by Visa, enables Botswana Life clients to be paid their claims and benefits into the card, then transact with it in the same way as a debit card. The Liferewards card also has a built-in rewards programme.
This is the first product of its kind to be launched by an insurance company in Botswana and Africa, excluding South Africa.
Botswana Life is proud to once again be leading the insurance industry with this cutting-edge innovation, which aims to enhance the company’s customer value proposition and support its objective of being the benchmark life insurer. Liferewards affirms Botswana Life’s position in the market and demonstrates its commitment to continue setting the trend for the benefit of clients and shareholders.
Liferewards is offered to Botswana Life clients as an alternative payment mode to cheque and Electronic Funds Transfer (EFT) for their claims and benefits. The card can be reloaded with amounts up to P50, 000 and be used to transact at Automated Teller Machines (ATMs), Point-of-Sale (PoS) machines and for Internet transactions.
Liferewards also has a rewards programme linked to it, which enables the card holders to enjoy discounts with an array of retailers all over Botswana.
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