Credit Life Insurance Quotes

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Credit life insurance quotes. In the event of the principal member s death permanent disability or retrenchment african unity life s credit life benefit settles the outstanding credit or loan amount with the relevant finance provider which will relieve the. We re proud to announce a first of its kind for sanlam. However there are typically four main types of credit insurance. Credit life insurance is a specialized type of life insurance policy intended to pay off specific outstanding debts in case the borrower dies before the debt is fully repaid.

Credit life insurance pays off all or some of your loan if you die. There are many different variations of credit insurance and not every insurance or finance company offers the same type of coverage. Credit life insurance is a single need assurance product that you take out when you buy goods on credit. Credit life insurance settles any outstanding debt owed on a loan or credit account so your family is not left to deal with this.

The premiums for credit life insurance are usually collected on a monthly basis and their amount depends on the balance of the loan amount. Should you die or become disabled before you have totally repaid the amount owed this insurance will pay the outstanding amount on your behalf. If you have vehicle finance credit cards loans or retail credit we are able to reduce your monthly instalments by 5 every month we do this by reducing the premium payable on your credit life insurance which you take out with us directly. Most lenders insist that you have this insurance on your accounts.

Credit life insurance is a good option so that your debt is eliminated and doesn t have to be paid by your family in the event of your death. That s where miway s credit life cover comes in covering you and your family in the event that you are no longer able to pay your vehicle finance paying it on your behalf so that your family can keep the wheels turning. Loss of life loss of health loss of income while we hope for the best it s smart to be prepared for the worst. Credit life insurance can also include dread disease cover.

Credit life cover applying for credit protection couldn t be easier. The only way you re going to figure out if this is the right option for you is to compare policies and quotes for life insurance. Hippo co za instantly sources multiple quotes from a range of sa brands so you can compare prices and benefits side by side and find the right deal for you. Sanlam credit life cover designed to protect you and your family and give you peace of mind when taking out larger loans such as a home loan.