Credit Life Insurance

YOU ARE COVERED! If you have been retrenched, put on short time or compulsory unpaid leave during this difficult time, we will cover your monthly loan instalments.

When will your instalments or outstanding debt be covered?

icon-creditlife-retrenchment
RETRENCHMENT

Your repayments are covered for up to 12 months if you lose your job.

icon-creditlife-shorttime
SHORT TIME

Your repayments are covered for up to 12 months if your work hours are reduced.

icon-creditlife-compulsory
COMPULSORY UNPAID LEAVE

Your repayments are covered for up to 12 months if you are forced to take leave without pay.

icon-notice-deposit-easynotice
TEMPORARY DISABILITY

Your repayments are covered for up to 12 months if you are disabled temporarily and can’t work.

icon-notice-deposit-easynotice
PERMANENT DISABILITY

Your outstanding debt is settled in full if you are permanently disabled and can’t return to work.

icon-consolidation-easy-app
DEATH

Your outstanding debt is settled in full should you die.

Submit your claim.

Not covered

Those who are self-employed or pensioners are only covered for death and disability on Loan and Credit Card debt. Any Credit Card transactions made after the date of an insurable event are not covered.

Retrenchment, short time and compulsory unpaid leave are not covered for the first 90 days after your Policy has been opened, or in cases where:

  • You were aware of your retrenchment before you opened the Policy
  • You take voluntary retrenchment
  • You resign or retire
  • You are involved in strikes or lock-outs
  • You voluntarily forfeit your salary
  • You are dismissed because of misconduct, dishonesty or fraud

We don’t cover death or disability resulting from:

  • Pre-existing medical conditions that you knew about 12 months before you opened your Policy
  • Willful, self-inflicted injury or suicide
  • Use of nuclear, biological or chemical weapons
  • Participation in crime
  • Hazardous activities like warlike operations, rebellion or revolution

Terms and Conditions

Credit Life insurance is underwritten by Guardrisk Life Limited.

What our customers are saying