Mortgage Protector

The primary purpose of this product is to provide protection for individuals who have purchased or are in the process of purchasing property through a bank or other financial institution. The product can also be used to cover any other type of loan. A mortgage or loan is not a prerequisite to take this policy.

The sum assured reduces commensurately with the loan (equal to the sum assured) and which is being repaid over the term of the policy.

This product is a single premium decreasing term assurance; (which means that the sum assured decreases over time).

The mortgage protector, as the name suggests, is there to ensure that the Life Assureds dependants are not burdened with mortgage payments, in the event of his/her death.

For a single premium, Botswana Life Insurance Limited provides protection for the dependents; against the burden of the mortgage, in the event of the death of the Life Assured.