This product is designed to assure the life of the policyholder in the event of death whenever that happens. This product is denominated in two currencies, namely the Botswana Pula (BWP) and the United States Dollar (USD).
There is an option to choose a return of premium benefit. Where this option is selected, upon survival of the policyholder to the 15th policy anniversary, Botswana Life will return the life premiums paid up to that date, increased by 20%.
This product comes with an option to add rider benefits such as capital disability benefit, dread disease benefit, accidental death benefit, waiver of premium on disability, family commuter as well as Thuso 911 benefit. Premium for rider benefits will not form part of the return of premium benefit.
- The policyholder has an option to cover his/her spouse under the same policy.
- The minimum sum assured for this policy is P100 000 while the maximum sum assured is P100 million or USD equivalents.
- There is no waiting period
- Standard Botswana Life underwriting required
The policyholder may choose to stop paying premiums at the age of 65 years, 70 years, 75 years and 99 years and life cover continues for life. There are also 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.