Botswana Life launches Lore Master Plan

Under the product, policyholders will be entitled to cash back the equivalent of six months' premiums every four years. Named Lore Master Plan, the product pays up to P50 000 for various expenses but not limited to funeral, education, hospital bills, mortgages and rental. It is tailor-made for all sectors of the population, from middle to high-income earners, entrepreneurs, newlyweds and breadwinners.

Explaining the product, Acting Chairperson of Botswana Life's Product Development Committee, Thomas Masifi, says the policy has four benefit options - with Option Four attracting the highest pay out of up to P50,000.  "With Option Four, policyholders receive P50,000 payout and their spouses get the same amount while beneficiaries get a monthly income of P4,000 for 12 months," says Masifi.