CREDIT LIFE INSURANCE

1Life Credit:

• will, in the event of your death, pay out the outstanding capital on a short or long term debt (such as on a car or home) to your loan provider;
  
  
• is a decreasing sum assured product which means that the pay out amount decreases in direct correlation to the repayment you make on your loan;
  
  
• includes occupation-based disablement cover as well as dread disease cover;
  
  
• is valid for the whole loan contract period or outstanding period (if you start the life policy after you took your loan) or until a disablement, death or dread disease claim is made and paid out;
  
  
• covers you immediately;
  
  
• will pay out up to R20 000 per month (for up to 6 months) to cover your long or short term loan instalments if you become retrenched.

With 1Life Credit, a 3rd value-adding product is available to assist you if you lose your job due to adverse business conditions, the introduction of new technology or restructuring in the organisation you work for:

1LIFE RETRENCHMENT

• will pay out up to R20 000 per month to cover your long or short term loan instalments if you become retrenched
  
  
• allows you to select the numbers of months for which instalments will be paid on your behalf
  
  
• remains active either until a disablement, death/dread disease claim is made and paid out or until your loan expires (you can take it for the whole loan contract period or outstanding period if your loan is older than your credit life policy)
  
  

Section:Life Insurance

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