Death Benefit

The balance owing on the debt would be paid, less any arrears or additional debts.

Temporary Disability Benefit

The monthly instalment agreed upon under the Finance Agreement will be paid until recovery. This applies after you have been unable to work for longer than 30 days and proof of loss of earnings.

Permanent Disability Benefit

On becoming total and permanent disabled and you are unable to continue your own or a similar occupation, the balance owning on the debt would be paid, less any arrears or additional debits.

Personal Catastrophe Benefit

Should you be diagnosed as having contracted any of the 15 dread diseases listed below, the balance owing on the debt less any arrears or additional debits would be paid even in the event of recovery. – Heart Attack I I Surgery for Disease of the Aorta – Surgery for Coronary Heart Disease Paraplegia – Replacement of the Heart Valve Blindness – Coma (72 hours) HIV through Blood Transfusion – Major Burns Loss of Speech – Stroke Renal Failure – Loss of Limb An Organ Transplant – Cancer (Excluding all skin and Cancer in sito)

Installment Indemnity Benefit

Shall be payable on a monthly basis for such time as a life insured suffers a loss of employment subject to a maximum benefit period of 3 months. No benefit is payable within three months of the inception date of the policy and this benefit only applies if you have been unable to find work for longer than 30 days.

Specific Restriction on Liability

  • Extend beyond the specified ages under the benefit section herein.
  • Extend beyond the earlier termination or the settlement date of the Credit Settlement
  • Benefit Agreement.
  • Extend beyond the term of insurance stated on the proposal and policy schedule.

The Insurer shall not be obliged to make any payment in respect of any condition or event arising directly or indirectly from:

  • Self-inflicted injury, suicide / suicide attempt, within the first 2 years of the signing of the proposal; or
  • Any physical defect or infirmity of which the life insured was aware and which has its origin prior to the issue of the policy.
  • Poison, radio activity or nuclear explosion.
  • Participation in speed tests or races.
  • Refusing medical treatment as recommended by his own medical practitioner or the insurer’s chief medical officer.
  • The life insured being affected by alcohol or drugs other than as prescribed by a medical practitioner.
  • Committing any criminal offence

In respect of lump sum total and permanent disability and/or temporary total disability, the insurer shall not be obliged to make any payment in respect of any condition or event.

  • The insured being affected by alcohol or drugs, other than prescribed by a medical practitioner.
  • Committing any criminal offence.
  • War, armed conflict, terrorist activities, rebellion, civil commotion, sabotage or any associated activity.

In respect off Loss of Employment

  • Ill health or incapacity of the life insured due to accident, injury, childbirth, abortion, pregnancy, miscarriage, disease or illness, or the mental disorder of the insured.
  • A strike, labour dispute or industrial action participating or not.
  • Resignation, voluntary retrenchment, redundancy or in terms of the employers disciplinary procedures.
  • Civil commotion, war, hostile action, participating or not.
  • Dismissal in terms of employment conditions.
  • Becoming self employed, going on normal or early retirement or becoming a Partner in a partnership, member of a close corporation or a director of a company.
  • If the assets of the employer of the life insured is lawfully confiscated.

Liability in terms of the policy shall cease in the event of a claim settlement Being made for:

  • Death.
  • Lump sum total and permanent disability.
  • Personal catastrophe.
  • B & C shall be subject to the limitation of the LOA

Terms and Conditions

  1. Minimum entry age is 19 next birthday.
  2. Maximum entry age is 60 next birthday.
  3. Disability Benefit ceases at age 65.
  4. Installment and Personal Catastrophe Benefits cease at age 60.
  5. Second life insured is 70% discount of the first life insured.
  6. Rates are expressed per R1000 of cover.
  7. Maximum sum insured R500 000,00.LIFE ASSURER DETAILS AS PER SCHEDULE