Botswana Life, Access Bank collaborate
The prominent life insurer, Botswana Life has launched the Estate Liquidity Life Cover in collaboration with Access Bank Botswana. This 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. It is a financial tool that ensures seamless distribution of the estate upon death of the client. Clients will be able to access this product through the Botswana Life Fiduciary Services subsidiary.
Said Botswana Life Chief Executive Officer, Ronald Samuels: “We care about the long-term financial security of Batswana. This forms the core principles and values that we at Botswana Life uphold. That is why we are proud to collaborate with organisations such as Access Bank, that embraces and upholds the same values and principles of caring for the people of Botswana. Our partnership with Access Bank Botswana was established over 10 years ago through developing the Life Rewards Cards. 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.”
Managing Director at Access Bank Botswana, with over 15 years in the financial sector, Kgotso Bannalotlhe, stated that, “at Access Bank Botswana, we pride ourselves in offering affordable solutions to Batswana and we want everyone to have easier access to their funds. We believe that we all must be financially healthy at all points in our financial journeys. We aim to bring as many much-needed financial services to as many customers as possible, offering them ease of access to their investments as quickly and as effortlessly as possible.
We also believe in strategic partnerships to fulfil this vision. 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. “
The Botswana Insurance Holdings Group Executive Head of Business Development and Stakeholder management, Thomas Masifhi also explained the use of the Visa Card.
“We are the first life insurance company, outside of South Africa, within Sub-Saharan Africa to have our own Visa card, underwritten by Access Bank that enables Botswana Life clients to be paid their claims and benefits into the card, then transact with it in the same way as a debit card. Botswana Life, we take pride in being able to accomplish some of our goals towards helping Batswana achieve long-term financial success and stability and to demonstrate that we have been consistent in paying of claims averaging P1.5billion a year while the same increased to P2.4billion in 2021. We are happy that the sums paid are circulating in the local economy and making huge differences in the lives of our clients. This solution that we have come together to launch today, is a result of our combined commitment, as Botswana Life and Access Bank,” said Botswana Insurance Holdings Group Executive Head of Business Development and Stakeholder Management, Thomas Masifhi,