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Credit Life Insurance

Credit Life Insurance-Product Image

Relieve your family from Financial obligations in the event of your death or permanent disability. This life insurance policy is designed to pay off the borrower's debt (mortgage, unsecured, credit card, motor vehicle) if that borrower dies, is disabled or has a critical illness.

 

 

 

Some of the Benefits

Quick turnaround

Your premium and cover amount will be confirmed immediately, and your policy documents issued within days

Flexible

You can change or add beneficiaries on your life insurance policy at any time

Convenience

Apply for fully underwritten life cover of up to R 5m

Peace of mind

Provides relief and peace-of-mind to you and your family knowing that your financial obligations will be settled at the time of death or disability.
What’s Covered
  • Home Loan Protection Plan – provides cover on the life of the bond/loan holder (and a spouse) so that the bond is settled in the event of death or total and permanent disability of the insured.  

  • Vehicle Loan Protection Plan – ensures a loan holder deal is settled in the event of death or total and permanent disability, whereby decreasing the burden on the remaining family from paying for the vehicle.   

  • Personal Loan Protection Plan – this protection plan will ensure that the amount owning on the loan is settled in the event of death and total or permanent disability of the loan holder, thus your family is not burdened with paying your loans. This insurance is also applicable to Business loans where there is a key insurable person, maximum of two insurable.  

  • Credit Card Protection Plan – should any of these insurable events occur being Death, Permanent Disability or Retrenchment; the balance on the Credit Card will be settled by the insurer.  

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.  

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance. 

What do I get
  • The pay-out is equivalent to the loan balance at the time of death/disability.

What it costs?

  • Premium is charged on loan balance per month, as it decreases the premium also decreases and vice versa.
How To Get It
  • Contact the Insurance team on +268 78086710  or email us on [email protected] to get a  quote.

 

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.  

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance. 

How to claim
  • Completed Claim Form
  • Statement of loan account
  • Deceased’s ID
  • Death Certificate
  • Police Reports (For Accidental death or permanent disability)
  • Medical Reports
  • Employers Reports / letters
  • What’s Covered
  • What do I get
  • How To Get It
  • How to claim
  • Home Loan Protection Plan – provides cover on the life of the bond/loan holder (and a spouse) so that the bond is settled in the event of death or total and permanent disability of the insured.  

  • Vehicle Loan Protection Plan – ensures a loan holder deal is settled in the event of death or total and permanent disability, whereby decreasing the burden on the remaining family from paying for the vehicle.   

  • Personal Loan Protection Plan – this protection plan will ensure that the amount owning on the loan is settled in the event of death and total or permanent disability of the loan holder, thus your family is not burdened with paying your loans. This insurance is also applicable to Business loans where there is a key insurable person, maximum of two insurable.  

  • Credit Card Protection Plan – should any of these insurable events occur being Death, Permanent Disability or Retrenchment; the balance on the Credit Card will be settled by the insurer.  

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.  

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance. 

  • The pay-out is equivalent to the loan balance at the time of death/disability.

What it costs?

  • Premium is charged on loan balance per month, as it decreases the premium also decreases and vice versa.
  • Contact the Insurance team on +268 78086710  or email us on [email protected] to get a  quote.

 

*Bancassurance is a division in the Bank that offers insurance products to the Bank’s customers. This division is licensed by the Financial Services Regulatory Authority as a Corporate Agent.  

We are a Corporate Agent of Swaziland Royal Insurance Corporation for the Short-term insurance and Liberty Life Swaziland for our Long-term insurance. 

  • Completed Claim Form
  • Statement of loan account
  • Deceased’s ID
  • Death Certificate
  • Police Reports (For Accidental death or permanent disability)
  • Medical Reports
  • Employers Reports / letters