Credit Life Insurance
Credit Life Insurance takes care of outstanding debt in the event of the death of a policy holder.
- Credit Life Insurance will pay out the outstanding capital on a short or long term debt (such as on a car, home or general loan) to the loan provider.
- The amount payable is calculated based on the value of the remaining loan balance and decreases in direct correlation to the repayments made on the loan.
- The insurance includes occupation-based disablement cover as well as dread disease cover;
- Credit Life is valid for the whole loan contract period or outstanding period.
- Credit Life offers immediate cover.
- Credit Life Insurance will pay out up to R20 000 per month (for up to 6 months) to cover your long or short term loan installments in case of a retrenched.