An overdraft is a good safety net to have in place to cover those unforeseen expenses that might occur. The Overdraft Debt Protection Plan offers you financial security should something happen to you. The Overdraft Debt Protection Plan covers up to R150 000 in the event of death or permanent disability and your minimum installments for 6 months in the event of retrenchment or temporary disability.
The advantage of a revolving loan is that credit is available to you when you need it without having to re-apply for the credit every time. You also have the benefit of using as little or as much of the facility as you require. The Revolving Loan Debt Protection Plan covers up to R150 000 in the event of death or permanent disability and your installments for 6 months in the event of retrenchment or temporary disability.
The Revolving Loan Debt Protection Plan covers the outstanding balance on your revolving loan for up to R150 000 in the event of death or permanent disability and your minimum monthly installments for up to 6 months in the event of retrenchment, or the minimum instalments due for up to 12 months in the event of your temporary disability.
For sales and servicing enquiries on any Debt Protection Plans, please call 087 736 7775.
With flexible premium structures, you can either choose premiums that increase with the same increasing cover amounts or you can choose premiums that remain the same with a lump sum death beneft that also remains the same. You also have the flexibility to choose a premium payment date that suits your cash fow.
Where you choose Increasing Premiums and Increasing Cover amounts, you may specify a fixed percentage amount by which the premiums and benefit increase each year.
You can choose up until what age you want the policy to be in place, what we call the term of your policy, or you can elect to take out Life Cover that has a whole of life term where you stop paying premiums after your 90th birthday, but your insurance cover stays in place until your death.
South African citizens with a valid SA Identity Document and an FNB bank account
You have the option of combining a Life Cover policy with either Disability or Critical Illness cover:
Not being able to care for yourself means that your cannot carry out what we call 'activities of daily living', such as washing yourself, feeding, dressing or getting in and out of bed.
There are no waiting periods for Disability Cover
If you do take out Disability cover you need to tell us if you change your occupation as this may result in an adjustment to your policy.
Premiums Cover period Cover amounts Who can apply
Unless you choose otherwise, you pay a monthly premium which remains the same for the duration of the cover. You might wish to choose Increasing Premiums and Increasing Cover amounts, where you specify a fixed percentage by which the premiums and cover increases each year.
You can choose how long you want the policy to be in place, what we call the term of your policy, or you can elect to take out Disability Cover until the age of 65 years
The minimum level of cover you can get is R200 000, while the maximum is R10 000 000. The actual cover amount will depend on your income and age.
South African citizens with a valid SA Identity Document and an FNB bank account
There are no waiting periods, so you are covered as soon as the policy comes into effect. Your premiums will be waived for 6 months if you make a claim.
Critical Illnesses that are covered Cover period Cover amounts Who can apply
You can choose how long you want the policy to be in place, what we call the specified term of your policy, or you can elect to take out cover that has what is called a whole of life term. You stop paying premiums after your 90th birthday, but your insurance cover stays in place.
Critical Illness Benefit amounts offer minimum cover of R200 000, and a maximum cover of R5 000 000. Your income and your age will influence the level of cover you qualify for.
South African citizens with a valid SA Identity Document and an FNB bank account
