Botswana Life launches Access Bank partnership

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Botswana Life launches Access Bank partnership
Botswana Life launches Access Bank partnership

Africa-Press – Botswana. Botswana Life has launched the Estate Liquidity Life Cover in collaboration with Access Bank Botswana, to ensure the seamless distribution of estates upon the death of a client.

According to officials, the new product ensures that a deceased’s estate has enough cash available to pay for expenses that become due and payable upon death, such as taxes, legal fees, and executor fees.

Botswana Life CEO Ronald Samuels said clients would be able to access the product through the Botswana Life Fiduciary Services subsidiary.

“Coupled with the Fiduciary Services offering of drafting wills and trusts, the Estate Liquidity Cover product seeks to close the estate liquidity gap. “This Life policy includes benefits such as a waiver on disability and Thuso 992, which allows policyholders and their families to have access to emergency services within the SADC region,” he said.

Botswana Life’s partnership with Access Bank Botswana was established over 10 years ago through the development of the Life Rewards Card.

“Our partnership has since allowed us to achieve more and offer Batswana greater value in insurance and financial services. Ensuring that our loved ones’ security remains stable means leaving a legacy that lasts beyond our lifetime,” he said.

For his part, Access Bank Botswana Managing Director, Kgotso Bannalotlhe said they aim to bring many eagerly sought-after financial services to as many customers as possible, offering them ease of access to their investments as quickly and as effortlessly as possible.

“We pride ourselves in offering affordable solutions to Batswana and we want everyone to have easier access to their funds. “With our partner Botswana Life, we created the Life Rewards card, which was a first in our market, through our mutual understanding of the importance of inclusive financial services. “We look forward to many more opportunities to grow in this offering,” Bannalotlhe said.

Botswana Insurance Holdings Group Executive Head of Business Development and Stakeholder Management, Thomas Masifhi, said within Sub-Saharan Africa, Botswana Life is the first life insurance company outside of South Africa to have its own Visa card underwritten by Access Bank. The card enables Botswana Life clients to be paid their claims and benefits into the card, and then transact with it in the same way as a debit card.

“We have been consistent in paying claims averaging P1.5 billion a year while the same increased to P2.4 billion in 2021,” he said.

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