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Why do you need the Bona Life Mortgage Protection Plan?

Ownership is of great importance to everyone. Be it of ideas or material possessions like cars. Botswana’s rich history has engrained in us that land ownership is paramount. Bona Life introduces the Bona Life Mortgage Protection Plan to assist in your quest to own a piece of land, a piece of Botswana, a piece of home.

How does the Bona Life Mortgage ProtectionPlan fulfil your needs? 

Bona Life Mortgage Protector covers you against your mortgage loan. Investing in property is costly and it is required to have life insurance against a mortgage. With Bona Life, there will be no need to worry about your dependents having to cover the mortgage in the event of your passing. 

How does the Bona Life Bona Life MortgageProtection Plan work? 

Bona Life Mortgage Protection Plan serves to cover a reducing debt under your mortgage loan with capital and interest repayment the premium remains level while the insurance cover reduces in line with the reducing mortgage loan.

5 Good Reasons to Invest in This Product

  • Your property is protected for your loved ones in the event of your passing. 
  • Bona Life Mortgage Protection Plan assists in realising your dream of owning your own home. 
  • You can invest in this product from as little as 18 years old
  • Your mortgage may be paid off in the event that you are disabled.
  • Your premiums may be waived if you are unable to work due to disability. 

When can I take this product? 

You can take up this policy from the age of 18 years up to 65 years. The termination age is 70 years. 

How long do I have to take this policy for? 

You can take the policy for a minimum of 5 years and a maximum of 30 years.

Main Benefits
  • Available on a joint life 
  • The minimum sum assured is P100,000
  •  Flexibility in premium payment 
Optional Benefits
  • Total and Permanent Disability
  • Waiver of Premium on total and permanent disability (including loss of 2 limbs) 
  • Policy Assignments are available


How do I make amendments to my policy?

Fill out an amendment form supplied by Bona Life, and attach relevant supporting documents based on the nature of the amendment. For example:

  • Addition of a child to policy – birth certificate
  • Change of name- marriage, divorce decree or affidavit
  • Change of bank- new banking details 
How do I get my statement for my investment or savings policy?

Send a request to client service team via the various touchpoints (walk-ins, email, Whatsapp, Facebook, telephone) to prepare a policy valuation. Policy valuation will be shared via your preferred medium.

How do I cede my policy for a loan?

Send a request to cede policy to Bona Life and on confirmation of policy status, you will complete a cession form. Attach the KYC forms and policy documents will be prepared showing the cession. This is what you will take to the bank to complete the cession.

How do I surrender my investment or savings policy?

Submit KYC documents, Complete surrender form, write surrender letter & attach bank statement for account that the money will be deposited to.