Details

  • The policy will pay a lump sum benefit in the event of non-accident death or Double lump sum benefit on accidental death of the policyholder, spouse and up to 6 nominated children.
  • It will also pay a monthly benefit for a period of 12 months in the event of the policyholder's death.
  • The product also has an option to cover a maximum of 4 parents or parents-in-law and 10 extended family members.
  • Minimum & Maximum Entry age:
Category Member Minimum At Next Birthday Maximum At Next Birthday
Life Assured 18 55
Spouse 18 55
Children 0 20
Extended Family 0 85
Parents/Parents-in-law 22 85

Features

  • The Solution requires no medical underwriting.
  • The policy runs for the whole of life.
  • No waiting period on accidental death.

Benefits

  • Lump sum benefit up to P50,000 for natural death or double lump sum benefit on accidental death of policyholder, spouse and up to 6 nominated children.
  • Pays a maximum monthly annuity benefit of P4 000 for 12 months.
  • The Solution has a cash back benefit that pays a benefit every 4 years equal to 6 month's premiums.
  • Premiums are waived from the policy anniversary following the 65th birthday of the policyholder.

Limitations

  • Eligibility reserved for people earning P4 000 & above.
  • 90 day cooling off period.
  • The policy has a six months waiting period.
  • Waiting period will also apply on reinstatement.
  • Waiting period applies from 1st day of the month following the month of premium collection.
  • Double lump sum benefit on accidental death does not apply on the option of 4 parents or parents-in-law and 10 extended family members.
  • Failure to pay the agreed premium will result in the termination of the policy in accordance with Botswana Life lapse terms and conditions.

Exclusions

  • Suicide or any attempt thereat or any intentionally self-inflicted injury should this occur with 24 months from commencement date.
  • War, invasion, acts of foreign enemy, hostilities, rebellion, revolution, insurrection or military or usurped power, or by ionizing radiations or contamination by radioactivity from any nuclear fuel or waste.
  • Intentional contravention of any criminal law, whether legislative or at common-law, by the Insured, or by anyone acting on behalf of the Insured or with the Insured's permission or knowledge or by any person claiming any benefit under the policy.

Premium Rates & Cover Levels

Cover - Option 1 Cover - Option 2 Cover - Option 3 Cover - Option 4
Policyholder - P20 000 + P1 250 monthly benefit for 12 months Policyholder - P30 000 + P1 500 monthly benefit for 12 months Policyholder - P40 000 + P1 750 monthly benefit for 12 months Policyholder - P50 000 + P4 000 monthly benefit for 12 months
Spouse - P20 000 Spouse - P30 000 Spouse - P40 000 Spouse - P50 000
Children 16 to 21 - P10 000 Children 16 to 21 - P15 000 Children 16 to 21 - P20 000 Children 16 to 21 - P20 000
Children < 16 yrs - P5 000 Children < 16 yrs - P10 000 Children < 16 yrs - P15 000 Children < 16 yrs - P15 000
Optional Optional Optional Optional
Extended family/ parents - P5 000 Extended family/ parents - P7 500 Extended family/ parents - P10 000 Extended family/ parents - P12 500
Monthly Premium Rates in BWP - Members only:
Entry Age Option 1 Option 2 Option 3 Option 4
18 - 25 145 185 225 265
26 - 35 150 200 250 300
36 - 45 155 215 275 335
46 - 50 160 230 300 370
51 - 55 175 245 325 405
Monthly Premium Rates in BWP - Member & Spouse:
Entry Age Option 1 Option 2 Option 3 Option 4
18 - 25 165 210 255 300
26 - 35 180 235 290 345
36 - 45 195 260 325 390
46 - 50 210 285 360 435
51 - 55 225 310 395 480
Monthly Premium Rates in BWP - Member & Children:
Entry Age Option 1 Option 2 Option 3 Option 4
18 - 25 165 215 265 315
26 - 35 170 230 290 350
36 - 45 175 245 315 385
46 - 50 180 260 340 420
51 - 55 195 275 365 455
Monthly Premium Rates in BWP - Member, Spouse & Children:
Entry Age Option 1 Option 2 Option 3 Option 4
18 - 25 185 240 295 350
26 - 35 200 265 330 395
36 - 45 215 290 365 440
46 - 50 230 315 400 485
51 - 55 245 340 435 530
Monthly Premium Rates in BWP - Parents:
Entry Age Option 1 Option 2 Option 3 Option 4
22 - 35 16 24 32 40
36 - 45 20 30 40 50
46 - 55 30 45 60 75
56 - 65 30 45 60 75
66 - 75 46 69 92 115
76 - 85 76 114 152 190
Monthly Premium Rates in BWP - Extended Family:
Entry Age Option 1 Option 2 Option 3 Option 4
0 - 15 6 9 12 15
16 - 21 6 9 12 15
22 - 35 20 30 40 50
36 - 45 24 36 48 60
46 - 55 36 54 72 90
56 - 65 48 72 96 120
66 - 75 70 105 140 175
76 - 85 110 165 220 275

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