The first of its kind by an insurance company in the country, the card is underwritten by BancABC and supported by Visa. It can be loaded with a minimum of P50 up to a maximum of P50,000. It allows for a minimum balance of P10. Botswana Life clients would be able to receive their claims and benefits directly into the card. They would then be able to transact with it as with any debit card anywhere in the world.
Delivering a keynote address at the launch, Assistant Minister of Finance and Development Planning Vincent Seretse hailed Botswana Life for bringing yet another product that fuses insurance and banking services to its clients.He emphasised that as insurance companies worldwide change the view of insurance as conservative and boring, the card will bring Botswana to par with developed financial markets. He explained that the partnership between Botswana Life and BancABC brings opportunities for Batswana who were not able to participate in financial service markets, particularly banking, due to socio-economic constraints.
