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Credit Life Cover takes care of any outstanding debt the policy holder may leave behind.
- will, in the event of your death, pay out the outstanding capital on a short or long term debt (such as on a car or home) to your loan provider;
- is a decreasing sum assured product which means that the pay out amount decreases in direct correlation to the repayment you make on your loan;
- includes occupation-based disablement cover as well as dread disease cover;
- is valid for the whole loan contract period or outstanding period (if you start the life policy after you took your loan) or until a disablement, death or dread disease claim is made and paid out;
- covers you immediately;
- will pay out up to R20 000 per month (for up to 6 months) to cover your long or short term loan instalments if you become retrenched.
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