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 applyUnless 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 applyYou 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
Debt in some form is almost unavoidable in modern life. There are good and necessary types of debt which allow you to generate income and increase your net worth. However, even these can instantly turn from a positive into a negative if you suffer a setback which affects your ability to earn a living. In those circumstances, even 'good' debt could quickly become a burden to you or your family if you found yourself unable to manage your obligations
That's where debt protection comes in - providing peace of mind with the knowledge that your outstanding debt will be covered in the event of death, disability or retrenchment.
Life insurance is never an easy conversation to have, yet if you understand the benefits and you deal with a trusted brand and financial advisor, you can avoid a situation where you end up wondering 'if only I had...'
To explore your options and take up Life Cover from Firstrand Life:
Whether your needs are to:
FirstRand Life has designed cover that matches your needs, with cover amounts that are based on your life stage, your health, your affordability and your occupation.
This is complemented with our straight forward claims process where we'll be on-hand to guide you through the process step-by-step.
You may be interested purely in Life Cover, which includes some automatic and optional benefits, or you can elect to combine Life Cover with Disability and/or Critical Illness cover. The Life Cover beneft provides a lump sum payment to either your beneficiaries or Estate after your death.
To explore your options and take up Life Cover from FirstRand Life:
Disability Cover is designed to help you financially if something happens that prevents you from being able to ever again do your occupation, or if you cannot care for yourself anymore.
There are two types of Disability benefits you can combine with Life Cover:
Allows you to claim once, and in the event of a claim, your Life Cover lump sum amount reduces by the amount claimed for Critical Illness. Your premiums and lump sum benefit amount will be recalculated for the remaining duration of your Life Cover
Insurance
Taking on debt shouldn't mean taking on a burden for your family. Insure against this eventuality.
What this means for you
Debt in some form is almost unavoidable in modern life.
Life Insurance
Life insurance is never an easy conversation to have, yet if you understand the benefts and you
deal with a trusted brand and financial advisor, you can avoid a situation where you end up wondering 'if only I had...'
Life cover
You may be interested purely in Life Cover, which includes some automatic and optional benefts, or you can elect to combine Life Cover with Disability and/or Critical Illness cover.
Disability cover
Disability Cover is designed to help you financially if something happens that prevents you from being able to ever again do your occupation, or if you cannot care for yourself anymore.
Critical illness cover
Critical Illness Cover is optional and can be combined with Life Cover.
Applying made easy
