Provides life cover for the immediate and extended family.

Details

  • This is a stand-alone policy.
  • Provides life cover for the immediate and extended family.
  • Minimum age at entry:
    • Life Assured 18 years
    • Spouse 18 years
    • parents 22 years
  • Maximum age at entry:
    • Life Assured 55 years
    • Spouse 55 years
    • parents 85 years
    • Children 21 years
    • Extended Family 85 years
  • It covers the following persons:
    • Main Life Assured
    • Spouse
    • Max of 6 children
    • Max of 4 parents
    • Max of 15 extended family members

Features

  • There is no investment portion
  • Minimum total premium of P80.
  • Minimum cover of P10 000 for main life.
  • The maximum cover available is BWP 100 000.
  • Covers up to 27 family members.
  • Automatic premium update of 5% OR optional 10% update.
  • No medical underwriting.
  • Immediate cover after birth of a child - children must be nominated within 3 months from birth.
  • Benefits/cover escalation of 60% of premium update.
  • Policy ceases at age 65 if not transferred.

Benefits

  • Value of benefit can be updated thus keeping up with inflation - update at 60% of premium update.
  • 10% cash back benefit every 5 years if policy is in force at the time.
  • Transferable to a covered adult member is allowed after age 50 but before age 65.
  • Cover continues even after death of main life.
  • In-built premium waiver on death or disability of main life.
  • No waiting period on accidental death.
  • Waived benefits are payable to the date at which the main life assured would have reached the age of 65.

Limitations

  • 6 months waiting period on natural deaths and lapsed policy.
  • 24 months waiting period on waiver of premium on natural death and disability benefit.
  • The waiver of premium on death and disability benefit applies to the main life only.
  • Claims must be submitted within 6 months of the insured event.
  • No loans or encashment.
  • Minimum 2 units for Life Assured.
  • The nominated Beneficiaries cannot have more units of cover than the main life assured.

Exclusions

  • Suicides
  • Death resulting from hazardous pursuits
  • Act of War
  • Death at hands of justice
  • Death whilst involved in illegal conduct

Premium Rates & Cover Levels:

Rate per unit in BWP
Age: 0 to 15 16- 21 22-35 36-45 46-55 56-65 66-75 76-85
Policy owner 10 13 14 20 25
Spouse 10 13 14 20 25
Child 4 4
Parent 8 10 15 15 23 38
Extended family 3 3 10 12 18 24 35 55
Cover Levels:
UNITS MAIN & SPOUSE CHILD PARENTS & EXTENDED
1 P5 000 P4 000 P2 500
2 P10 000 P8 000 P5 000
3 P15 000 P12 000 P7 500
4 P20 000 P16 000 P10 000
5 P25 000 P20 000 P12 500

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