African Bank | Insurance | Credit Life Insurance

Credit Life

We understand that life happens and you may encounter unexpected circumstances such as an untimely death, permanent disability or an economic setback like retrenchment. Credit Life Insurance cover is a regulatory requirement that will help you to meet your obligations in terms of your credit agreement/facility in the case of an unexpected and unfortunate circumstance.

Cover

As a Category A Consumer, you’ll be covered for the following events, either to pay instalments towards your credit agreement/facility or to settle your outstanding obligation in terms of your credit agreement/facility depending on the circumstance:

Death

Death (Settlement)

Permanent Disability

Permanent Disability (Settlement)

Temporary Disability

Temporary Disability (Instalment)

Retrenchment

Retrenchment (Instalment & Conditional Settlement)

Short Time

Short Time (Instalment)

Compulsory Unpaid Leave

Compulsory Unpaid Leave "Temporary Lay-Off" (Instalment)

Exclusions

  • If you are a Category B Consumer, you will be covered for death only. Your loan and/or credit card debt will be settled by African Bank.
  • Within 90 days from the start of the policy, you will not be covered for
    - Short Time
    - Retrenchment
    - Compulsory Unpaid Leave
  • You will not be covered for any transaction on the credit facility "Credit Card" after the insured event.

Underwritten by: Guardrisk Life Limited. Terms and conditions apply.

How to claim

To make this process quick and easy for you, all you need to do is log a claim online, choose the specific event and include your full name, South African identity number, cell phone number and email address/fax number.

Call us on 0861 888 786/011 564 6827 or fax us on (011) 207 4774 for more information on how to log a claim.

Log a claim online

Downloads

Do you need more information on how to log a claim? Simply click on the informative African Bank Credit Life Master Policy, available in three of the South African languages.

Effective from 6 June 2016

Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho

Effective from 3 April 2016

Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho

Effective from 16 January 2016

Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho

Effective from 23 August 2015

Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho

Complaint form

Insurance Complaint Form

Claim form

Insurance Claim Form