Credit Life Insurance
Credit Life Insurance serves as a safeguard for your loan book in the unfortunate event of your clients’ Death, Disability, or Retrenchment. With this coverage, the consumer pays the premium alongside their loan installment, ensuring your company’s protection as the beneficiary in the event of a claim.
The credit life premium is calculated at 0.45% on the deferred amount (Capital + Initiation Fee). Notably, interest and service fees are encompassed within the coverage in the event of a claim.
We seamlessly integrate Credit Life Insurance into your loan management system, streamlining the entire process for enhanced efficiency.
Consumer coverage commences immediately upon signing the loan agreement and remains effective until the due date of the loan or the date of an early settlement. In the event of a claim, your company receives settlement for the outstanding amount as of the claim date, excluding any unearned charges.
Integrated Voluntary Funeral Plan
Tailored specifically for Micro Lenders, this product integrates into your loan management system with one deduction on the consumer’s bank account. It is percentage-based product with variety of options available to suit your unique business. This funeral benefit is paid directly to the consumer’s nominated beneficiary in the case of their death.
Stand-Alone Funeral Plan
Our Stand-Alone Funeral Plan caters to individuals, families, and extended family members, not limited to clients with microloans. Implemented on a separate system, it ensures accessibility and streamlined service delivery for all.
Bronze
- ✔ 1 x Total Repayment Cover
- ✔ R250 Airtime Voucher
Silver
- ✔ 2 x Total Repayment Cover
- ✔ R250 Airtime Voucher
- ✔ R250 Grocery Benefit
Gold
- ✔ 3 x Total Repayment Cover
- ✔ R250 Airtime Voucher
- ✔ R250 Grocery Benefit
- ✔ R250 Tombstone Benefit
Platinum
- ✔ 4 x Total Repayment Cover
- ✔ R250 Airtime Voucher
- ✔ R250 Grocery Benefit
- ✔ R250 Tombstone Benefit
- ✔ R250 Funeral Administration Benefit
