Agreement entails special schemes for members of BDU
A first-of-its-kind working partnership between the Botswana Doctor’ Union (BDU) and First Sun Alliance (FSA), an insurance broker, has been formulated in which members of BDU will benefit from financial advice offered by FSA.
“First Sun Alliance Insurance Brokers is delighted and wish to express heartfelt gratitude to the Executive Committee of the Botswana Doctors` Union (BDU) for this opportunity to provide a proposal for insurance broking services business engagement,” said founder and CEO of First Sun Alliance, Paul Chitate, at a press conference after the signing of a Memorandum of Agreement sealing the deal.
The two agreed to work together after discovering their common purpose of improving the wellbeing of people financially and medically. “In pursuit of the above agreement, the FSA’s mandate is to identify and propose relevant insurance covers to be packaged and identified as BDU umbrella schemes, (and) benefits may only be enjoyed where one is a member of the union,” the two said in a statement. “With numbers, discounted premiums, terms and conditions can be achieved.”
The president of BDU, Dr Shingirai Muzondiwa, said it was the overall objective of the BDU executive to come up with relevant support incentives and benefits for its members. “A well-structured insurance programme, with reasonable group premiums and best service can add value towards this objective,” Dr Muzundiwa noted.
The BDU was formed to advance the interests of medical practitioners, including improved employment conditions and benefits. Under the MoU, First Sun Alliance will devise insurance packages for members of BDU with special best terms and services. On the other hand, BDU aimed to secure a well-structured insurance programme with reasonable group premiums and the insurance best service for its members.
An FSA technocrat, Gofaone Tsimanyana, explained the terms obtained under the MoU. Group Life with has ancillary benefits for dread disease, occupational disability, income protection, temporary and permanent disability; Group Funeral Insurance has special group mortgage schemes with a disability cover; Group Credit Life with disability, Group Personal Insurances that include motor insurance, personal accident, householders and house owners.
For medical practitioners not formally employed by the government, FSA will design and propose an umbrella pension scheme to cover BDU members, a special provident fund where members prefer easier withdrawal options, and special investment schemes. FSA manages various investment options through unit trusts, the stock exchange, offshore insurance companies and local fund managers. “The FSA will also offer short-term insurances and provide dedicated insurance broking services to union members on all their insurance business in consideration of their strict and busy work schedules,” said Tsimanyana.
“FSA has in place qualified financial planners and will avail (to) BDU members special personal services on aspects that include debt management, rescheduling and counselling, personal financial planning training, needs analysis and estate planning. The services will also cater for retirement planning and alternative scheme options, wills drafting and hosting, as well as all fiduciary services, including executorships.”
The Botswana Doctors Union which was established in January 2019. Its executive committee comprises Dr Shingirai Muzondiwa as president, Dr Charles Muyela as secretary general, and Dr Febby Seleka-Charles as public relations manager. (Anthill News Agency)