19 Sep 2014

In keeping with its brand promise of ‘here for good’, Standard Chartered Bank, through its subsidiary, Standard Chartered Bank Insurance Agency has launched the distribution of seven leading products from Botswana Life Insurance Limited.

The products are in addition to existing products such as Tshidiso funeral plan and Mooki hospital cash back plan under the Standard Chartered bank assurance proposition.

The new products include Pinagare life cover, Motlhokomedi life cover, Lore funeral master plan, Motlamedi funeral plan, Bosa hospital cash plan and two group packages such as group life assurance scheme and group funeral scheme.

Launching the distribution of the products on Wednesday, the chief executive officer of Standard Chartered bank Botswana Mr Moatlhodi Lekaukau said bancassurance in Standard Chatered Bank has evolved to distribute more retail and in high value insurance products that provide clients an array of choices that touch on protection and income.

“We believe that these products will be successful and will prove immensely beneficial to our esteemed clients,” he said. He said they will help their clients plan and make provision for the inevitable, in dignity and with minimum financial stress.

For his part, the chief executive officer of Botswana Insurance Holdings Limited (BIHL) Group Mr Gaffar Hassam said for far too long, insurance in their part of the world has been inaccessible to the vast majority of people.

“Through our strong bancassurance partnership with Standard Chartered, we are able to provide useful and relevant insurance products available to banking clients,” he said.

When explaining some of the products, the relationship manager, High Value Corporate Business in Botswana Life Insurance Limited Ms Dineo Matilo said Pinagare life cover is a life cover policy with no medical underwriting and pays up to P500.000 and can also be as collateral for all lending products.

Furthermore Matilo explained that Lore funeral master plan is where one will pay a lump sum benefit in the event of non-accidental death or double lump sum benefit on accidental death of the policyholder, spouse and up to 6 nominated children.

In Bosa hospital cash plan she said is designed to assist clients with the best, yet affordable medical care on hospitalisation paying up to a maximum benefit of P2000 per day. ENDS