Isago Multi-Fund Discretionary Savings Plan aims to help our policyholders save for planned events, for example children’s education, a dream wedding, a dream holiday, starting a business etc. On maturity the client can take all the investment value or can re-invest the proceeds.
Partial withdrawal of the investment is allowed in case of an emergency that requires cash that may be locked in the Isago investment. 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. The policyholder has options to invest any proportion from 0% to 100% of the premium in various funds. A minimum monthly premium of P500 applies.
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 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).
Isago policyholders are empowered to change their investment allocations depending on their financial sophistication and understanding of the investment market performance. While our competitors charge a fee for each and every investment switch, with Isago the policyholder may switch investments 3 times in a year at no cost to the client.
While our competitors demand up to 5% as an initial investment fee, with Isago there is no initial fee and 100% of the premium is invested. This ensures that the client’s investment grows at a faster rate than it would when invested with our competitors. Isago policyholders can choose between local investment funds and offshore investment funds. With offshore investments, the policyholder may benefit from investment returns earned in hard currency as well as from currency movements.
Single Premium Investments
As the name suggests, these products require only a single premium payment which will be used for investment. A combination of upfront lump sum plus regular contribution is also allowed. The investment funds available are as mentioned under Isago above.