Credit Life Insurance
In the event of the death or disability of the loan holder, the remaining family members may not be in a position to continue paying the loan and enjoying the asset, be it the vehicle or the house. Taking Credit Life Insurance gives the loan holder peace of mind that should they be deceased or disabled and unable to service the loan, insurance will be in place to take care of the remaining balance on the loan. A medical examination is not required below a set minimum sum insured.
- 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 (T&C apply); the balance on the Credit Card will be settled by the insurer.