Gaborone: BancABC Part of Atlas Mara, has introduced a new product offering from its bouquet of insurance products, namely, Clan Cover. The funeral insurance policy offers funeral cover of up to P20,000.00.
Clan Cover is a funeral insurance policy which allows the policy holder to add twenty-nine (29) more members to the policy. A defining feature of the Clan Cover policy is that, unlike the usual policy which normally rates each additional per age and charges them on individual rates, the Clan cover only charges one premium for all added members regardless of their age as long as they are below 85 years. This cover can be used by motshelo groups, friends, extended family relatives, business colleagues and even SMEs for their employees
“We are proud to announce the introduction of Clan Cover, as it fits perfectly with our objective to continue to provide products and services that meet the needs of all our customers. This is a first in the Botswana market. It is our continuous aim to be a partner in all aspects of the lives of those with whom we touch. More than ever, in recent years, it has become apparent that family is not only those related to us. We have friends who have become family, Motshelo families, distant relatives we are close to, even neighbors who we consider family. This is the product for them”, said Acting Country Head of Marketing and Communications, Ms. Tebogo Seleka.
Clan Cover will in the unfortunate event of loss of any of the members covered by the policy, pay a specified amount to the bereaved family as well as an immediate free Merapelo benefit on submission of a valid claim.
As an African home grown bank, we truly understand the lives of Batswana, we understand that family is not only a spouse and children but your aunt that you only see once a year; we understand that in order to contribute to financial inclusion of all Batswana, we must assist the 80 year old pensioner to own her own life policy, even if it’s her first at age 80; we also understand that most Batswana without adequate funeral cover state affordability as a key concern; in light of this we created this cover by increasing the maximum entry age from 65 to 85; creating affordability by allowing for premium contribution pools through the Clans and allowing upto 29 members at one rate. Kago Mathengwane- Principal Officer – BancABC Insurance.
BancABC, part of Atlas Mara, is a Pan African bank whose foundation is based upon a people-centered approach.
BancABC, Reshaping Africa, Reshaping African Banking.
About Atlas Mara
Atlas Mara (www.atlasmara.com) was listed on the main market of the London Stock Exchange in December 2013. Atlas Mara's strategy is to create Sub-Saharan Africa's premier financial services institution through a combination of its experience, expertise and access to capital, liquidity and funding.
Its goals are to combine the best of global institutional knowledge with extensive local insights and to support economic growth and financial inclusion in the countries in which it operates.
About BancABC
BancABC Botswana is a part of the Atlas Mara Group. Our vision is to be the trusted local bank in Botswana, offering world-class solutions and building profitable, lifelong customer relationships through the provision of a wide range of innovative financial products and services to benefit all stakeholders. BancABC in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.
The group offers a diverse range of products in corporate banking, treasury services, retail & SME banking, asset management and stockbroking.