What is DigiLife Loan Protection?
Our loan protection is the first life insurance product in Botswana to be purchased through WhatsApp. In the event of a valid claim arising, Old Mutual Life will pay the lender and not the customer.
How do I access DigiLife loan protection
Use your WhatsApp and Send the word ‘Hi’ to +267 78554550 and follow the easy prompts. You can choose to Apply for a loan protection policy, amend your policy details or request a call back all conveniently via WhatsApp.
- It covers you against death and disability
- Cover terminates at the age of 65years
- It will be available to customers who seek to take out loans with lending institutions (banks, building society, credit unions etc.) This loan protection is also available for your preexisting loans.
- It can be used as security for a loan such as a home loan or vehicle loan and provide cover for the outstanding loan in the event of death or disability
- It gives you an option to choose a cash back feature that will be activated after a claim free period of 3 years.
- Minimum entry age - 18 years
- Maximum entry age - 64 years
- Cover amounts - range from P1000 to P1 million
- Cashback option - optional Cashback benefit equal to 15% of all premiums paid after 3 years. Ts & Cs apply
- Policy term - flexible policy term with a maximum of 30 years
- Premium payment frequency - you can pay your premiums monthly or once off as a single lump sum paid at the policy start date (single upfront)
- Beneficiaries - the bank/ lending institution. The loan cover is transferred to the Bank as proof of your loan protection with the bank having first right to claim under the policy
- What premium payment flexibility exists? - Where premiums have not been received but the life assured is still covered. The life assured is given a grace period of 45 days to pay arrears.
- Are there any medical requirements? - no medical tests required
- Renewal Option - policy is tied to loan, there is no renewal available on the policy once cover has been terminated or lapsed.
- Convenient as you can purchase cover from anywhere in Botswana on WhatsApp
- Instructions are easy and help you at every stage of your purchase
- It will provide you with peace of mind knowing that your family will not lose their assets in the event of death or disability
- It will save the policyholders from falling into debt as a result of the unexpected financial loss
- No medical tests required
- Cashback of 15% available as an optional extra.
- Request for Personal Details amendment
- Request for Financial Details amendment
- Request for Policy Termination
Please also read our full DigiLife product terms and conditions and privacy notice.
Want to know more about Old Mutual DigiLife loan protection?
For more information, or to purchase DigiLife loan protection, please contact us on our WhatsApp line on +267 78554550.
- In event of natural/accidental death - no waiting period
- In event of death by suicide - 24-month waiting period
- In event of disability - 6-month waiting period
Mortgage, vehicle and personal loan payments, in the event of a death or disability.
First save this number, “78554550” and text “Hi” to start the registration and purchase process.
You will be covered for an unlimited period provided you travel to countries that are part of the Global travel list. (Australia, Botswana, Canada, France, Germany Ireland, Italy, Lesotho, Mozambique, Namibia, Netherlands, New Zealand, Poland, Portugal, South Africa, Spain, Swaziland, Switzerland the United Kingdom and the United States of America).
If you reside in countries outside the Global Travel list, post purchasing the loan protection cover then we will extend to a maximum of 3 months.
64 years
65 years
This product has a optional cashback benefit of 15% of premiums which will be activated after a claim free period of 3 years.
Active policy (These are policies where premiums are up-to-date at the time of death or disability) and premiums are guaranteed for 12 months from inception.
No medical tests are required.