If you have been looking for Absa credit life insurance, look no further.
This guide has everything you need to know about this insurance.
Absa looks out for you and your loved ones even when you are dead or can not afford to pay off your debts.
The insurance will cover the total outstanding balance on your loan in the event of death, loss of income, critical illness, chronic illness, or disability.
We will first show you the benefits and features of this insurance.
What Are The Benefits And Features
You will get limited-term insurance with an option to convert it to a whole life policy.
The insurance accepts multiple lives so that you can include your loved ones in the policy.
You do not need a medical examination to qualify for the cover.
You will receive an immediate cover from the date the policy becomes effective.
This cover does not demand you account for the debt settlement during estate planning.
The designated monthly premiums will not change during the cover term, no matter the state of the country’s economy.
These are the features and benefits of the Absa credit life insurance in South Africa.
Absa Credit Life Insurance
Plan A covers only death, and the maximum sum assured is R1 million.
Plan B covers death and disability, and the maximum amount assured is still R1 million.
Plan C covers death, disability, and dread diseases and the maximum amount assured is R1 million.
Plan D covers death, disability, dread disease, and retrenchment, and the maximum amount assured is R1 million.
The platinum protection covers death, disability, retrenchment, and accidental death and offers a maximum of R750 000.
The taxi protection covers death, disability, and dread diseases with a maximum assured sum of R500 000.
These are the Absa credit life insurance options in South Africa.
How To Apply Or Register For Absa Credit Life Insurance
You need to provide a valid South African ID or passport when applying.
You also need to be between 18 years and 60 years old.
You can visit any Absa branch near you to apply for this insurance.
You can also apply at any Absa-approved vehicle dealership when you enter into an asset finance agreement with them.
This is how you apply for the Absa credit life insurance in South Africa.
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