Strengthening Your Workforce through Comprehensive Group Life Insurance

A Message from?the Botswana?Insurance?Holdings?LimitedGroup Executive: Corporate Distribution & Stakeholder Management – Mr Thomas S Masifhi

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In today's dynamic business landscape, attracting and retaining top talent is crucial for?sustained?organisational success. As the Group Executive overseeing Employee Benefits at Botswana Life Insurance Limited, I am dedicated to helping employers enhance their employee value proposition through robust group life insurance offerings. Recently, we hosted our annual employee benefits convention, bringing together Human Resources executives and CFOs from various companies across the country.?

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This event underscored the importance of having the right group life insurance?solutions that meet the unique and every changing needs of?employees. When thoughtfully selected, group insurance can ensure the?financial well-being and peace of?mind of?both employees and employers.

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Employers play a pivotal role in developing compelling employee value proposition?with?competitive benefits packages. Group life insurance forms a cornerstone of these benefits, offering financial protection to employees and their families in times of need. It is imperative for employers to consider a comprehensive suite of group life insurance products to cater to diverse employee needs and circumstances.

When crafting your organisation's employee benefits package, consider including the following key group life insurance products:

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1.?Group Life Assurance (GLA): Provides a lump sum payment to the beneficiaries of an insured employee in the event of their death.

2.?Disability Benefits: Offers income protection for employees who become disabled and are unable to work.

3.?Temporary Disability: Covers employees who are temporarily unable to work due to illness or injury.

4.?Permanent Disability: Provides financial support to employees who experience permanent disabilities that prevent them from working.

5.?Critical Illness/Dread Disease: Offers a lump sum payment upon diagnosing specified critical illnesses, providing financial support during challenging times.

6.?Permanent Health Insurance:?Provides a reduced monthly salary/income(75%) protection up to the retirement age of the employee.

7.?Hospital Cash Plan: Provides daily cash benefits to employees during hospitalisation, helping offset additional expenses.?

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Life Underwriter selection:

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In addition to selecting the right group life insurance products, employers should partner with a reputable life insurance provider that possesses the technical expertise and financial stability to deliver on their promises. Look for a partner with:

1.?Demonstrated technical skills in designing and managing group life insurance programs.

2.?Solid?capital?reserves to ensure claims can be met in a timely manner.

3.?A strong balance sheet that reflects financial stability and?business?sustainability.

4.?A proven track record of honouring claims and providing exceptional customer service.

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At Botswana Life Insurance Limited, we are committed to working with employers to tailor group life insurance solutions that meet the specific needs of their workforce. By choosing the right life insurance partner and offering comprehensive group life insurance products, employers can demonstrate their commitment to the well-being of their employees and strengthen their value proposition in the?increasingly competitive marketplace.

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I urge employers across Botswana to prioritize employee benefits, including group life insurance, as part of their overall talent?recruitment,?retention,?and engagement strategy. Investing in the financial security and well-being of your employees not only enhances loyalty and engagement but also fosters a positive workplace culture that can drive organisational success.

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Together, let us ensure that every employee is covered, protected, and valued through robust group life insurance offerings. Your employees are your most valuable asset – safeguard their future today for a brighter tomorrow.

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Sincerely,

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Thomas Masifhi

BIHL?Group Executive - Group Risk/Employee Benefits

Botswana

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