Botshelo - Personal Loan Protection
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What is Personal Loan Protection
This Cover is meant to secure your personal loan. The bank will accept the policy as collateral.
It pays cash in the event of death from both natural and accidental causes.
Personal Loan Protection will be for a specific agreed term that is equivalent to the loan term.
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Who should buy Personal Loan Protection
If you have a personal loan with the bank or any other financier you should have personal loan protection.
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What is the benefit of having Personal Loan Protection
You can't predict death but you can determine what you leave behind for your family. It will protect your assets from being taken as collateral in the event of death while still owing the bank.
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How much Personal Loan Protection should you have
The amount of cover will be equivalent to loan amount obtained from the bank.
Product Highlights
Our insurance products have the following unique features:
- Online, convenient, moneysaving insurance with complete peace of mind
- Up to P650,000 cover with no medical underwriting
- Mandatory work disability benefit
- Optional critical illness benefit as a rider
- Covers natural and accidental death
- Entry age of 18 to 63
- You the life insured, or your spouse may make the monthly payments
Our Client Benefits
Our clients have 24-7 access to the following benefits:
- Quote in under 1 minute, buy in less than 20 minutes – online!
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Access to myabsalife.co.bw , a secure and convenient online policy management service
- Change your banking and contact details easily - saving you time
- View your policy communications and policy documents
- Make changes to your levels of cover
- Update your beneficiaries
Tips
- Always have a beneficiary nominated. Without a beneficiary nomination the cash will fall within your estate and that means a delay in getting it to the people who need it most, your loved ones.
- If you are married it is always good to nominate your spouse as a beneficiary. By doing this you will save on estate duty.
- Have your will regularly updated. It is the only way to ensure that your assets go to the right people after your death.