Credit Life

We understand that life happens and you may encounter unexpected circumstances such as an untimely death, permanent disability or an economic setback like retrenchment. Credit Life Insurance cover is a regulatory requirement that will help you to meet your obligations in terms of your credit agreement/facility in the case of an unexpected and unfortunate circumstance.

Cover

As a Category a Consumer, you’ll be covered for the following events, either to pay installments towards your credit agreement/facility or to settle your outstanding obligation in terms of your credit agreement/facility depending on the circumstance:

Death
Death

Death (Settlement)

Permanent Disability
Permanent Disability

Permanent Disability (Settlement)

Temporary Disability
Temporary Disability

Temporary Disability (Instalment)

Retrenchment
Retrenchment

Retrenchment (Instalment)

Short Time
Short Time

Short Time (Instalment)

Compulsory Unpaid Leave
Compulsory Unpaid Leave

Compulsory Unpaid Leave "Temporary Lay-Off" (Instalment)

Exclusions

  • If you are a Category B Consumer, you will be covered for Death only. Your loan and/ or credit card debt will be settled by African Bank.
  • You will not be covered for any transaction on the credit facility "Credit Card" after the insured event.
  • Within 90 days from the start of the policy, you will not be covered for 
    - Short Time 
    - Retrenchment 
    - Compulsory Unpaid Leave
  • The customer will not be covered for Retrenchment, Short-Time and Compulsory Unpaid Leave, if
  • the Insured loses his/her job because of: Fraud, dishonesty, misconduct, strikes, lock-outs by Employer,
  • voluntary forfeiture of salary,
  • voluntary retrenchment,
  • resignation,
  • retirement, or
  • retrenchment of which the customer was aware or received notice of during the 3 months preceding the date on which the Credit Life Cover commenced.
  • The customer will not be covered for Death or Disability resulting from
  • willful, self-inflicted injury or suicide,
  • active participation in warlike operations, rebellion, revolution, criminal activities, hazardous activities
  • use of nuclear, biological or chemical weapons, any pre-existing condition the customer was aware of that affected the customer in the 12 months preceding the date on which the Credit Life Cover commenced.

Underwritten by: Guardrisk Life Limited. Terms and conditions apply.

How to claim

To make this process quick and easy for you, all you need to do is log a claim online, choose the specific event and include your full name, South African identity number, cell phone number and email address/fax number.

 

Call us on 0861 888 786 /(011) 564 6827 or fax us on (011) 207 4774 for more information on how to log a claim.

Log a claim online

Please provide a valid email address

Downloads

Do you need more information on how to log a claim? Simply click on the informative African Bank Credit Life Master Policy, available in three of the South African languages.

Effective from 09 Aug 2017
Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho
Effective from 06 Jun 2016
Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho
Effective from 03 Apr 2016
Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho
Effective from 16 Jan 2016
Credit Life Master Policy – English
Credit Life Master Policy – Zulu
Credit Life Master Policy – Sotho

Complaint form

Insurance Complaint Form

Claim form

Insurance Claim Form