This policy is designed to provide cover for Extended family members without an option to cover nuclear (Immediate) family members. It also extends to domestic workers and herdsmen. The policyholder will only be covered for accidental death.
There are options to have the premiums level or escalating at 5% or 10% per annum and the benefits escalating at 60% of the chosen premium escalation. The policyholder has an option of adding a savings rider where the policyholder can save some monies independent of funeral cover contributions at no extra administration costs. On surrender, the policyholder is only entitled to the savings portion and no surrender penalties are payable.
The policyholder can cover extended family members to a maximum of 19, including parents and parents-in-law. There is no maximum number of policies, however the sum assured on one life should not exceed P100,000. Masika Otlhe also comes with an option to add a waiver of premium on death which means upon death of the policyholder, the lives covered will continue being covered for up to 2 years following the death of the policyholder.