Botswana Telecommunications Corporation Limited (BTC) in partnership with Hollard Life have launched Karabo Funeral Plan, a funeral cover product that focuses on providing funeral assurance cover that entitles a promised amount and or benefit determined by the policy package to be paid out in the event of the death of the holder or the death of a loved one.
Speaking at the media launch of Karabo Funeral Plan, the BTC Managing Director, Mr Anthony Masunga stated that BTC Smega and Hollard Botswana are the first to go to market with such a product, that is aimed at bringing affordable funeral cover to everyone, adding that the cover is open to both citizens and non-citizens. Mr Masunga stated that BTC continues to establish strategic partnerships to its Smega platform to bring financial inclusion and bring digital solutions closer to every Motswana.
“We have onboarded key services and suppliers such as Water Utilities for payment of water bills, Botswana Power Corporation for purchasing electricity, FSG Botswana for payment of funeral premiums, Botswana Life for payment of Mosako premiums etc”. He stated that BTC’s expansive network coverage ensures inclusivity and that everyone, regardless of their location may onboard into the Karabo Funeral Plan, which rides on the platform for self-service onboarding.
Hollard Life Managing Director, Ms Tabuya Tau stated that the launch marked the introduction of a monumental product that is Karabo Funeral Plan, adding that it holds the potential to transform the lives of millions. “This product has been a long time coming. It is one that sits at the core of all that we aim to achieve as Hollard, to ensure that everyone is given the equal and fair opportunity to access financial stability for themselves and their loved ones” she said.
Ms Tau added that “Karabo Funeral Plan redefines compassion by offering dignified funeral coverage for all”, stating that both BTC and Hollard Life came up with a product that is simple, convenient and designed to suit everyone’s pocket”. She emphasised this point by highlighting that through the use of Smega for payment of the low funeral premiums, the unbanked market which is often overlooked by the financial industry, will give individuals and families who do not have access to traditional banking services, a chance to secure their futures through insurance.
About Karabo Funeral Plan
A Smega (BTC mobile wallet) subscriber may join individually via mobile phone or as dependant person on family cover. The premium is paid per head and is the same irrespective of age. The plan covers anyone from the ages of 0 to 69 years. To register for Karabo Funeral Cover, one must have a mobile number with an active BTC SIM Card and registered on Smega.
To be onboarded on the cover, customers may use the BTC Smega self-service number *173# and follow the steps. The cover is open to citizens and non-citizens. The funeral cover premium payment starts at P10.00 for the Karabo Lite and Diaspora package for payment of P10,000; P15.00 for Karabo Standard which carries a pay out of P15,000; P25,00 for Karabo Basic which pays out P20,000 while users may pay P25.00 under the Karabo Premium and Karabo Diaspora package pays a benefit cover of P25,000. Terms and conditions apply.
