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, 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.
โWe 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 etcโ. He stated that BTCโs 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, 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. โThis 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 onesโ she said. Ms Tau added that โKarabo Funeral Plan redefines compassion by offering dignified funeral coverage for allโ, stating that both BTC and Hollard Life came up with a product that is simple, convenient and designed to suit everyoneโs pocketโ. 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.
