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.

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