The Gold and Platinum Value Bundle offerings include a lump sum Takaful benefit, which means that a lump sum will be credited to your account and go towards settling any overdraft on your account at that time, if you pass away before your 75th birthday. Any part of the lump sum benefit that is left will be paid to your estate.

Benefits of lump sum offering

  • The following lump sum benefits will be paid, depending on the Value Bundle

    The following lump sum benefits will be paid, depending on the Value Bundle:
    • Gold Value Bundle pricing option: R20 000
    • Platinum Value Bundle pricing option: R25 000

    This benefit is available from the first day of the month following the date on which the account is opened.

  • A brief summary of the terms and conditions

    A brief summary of the terms and conditions:
    1. Your account must remain active at all times.
    2. The benefit will not be paid if
      1. You commit or attempt to commit suicide within the first 12 months and this results in your death
      2. You were involved or suspected to have been involved in an intentional crime that caused your death
      3. The person submitting the claim on your behalf submits incorrect or incomplete information

    The benefit will be cancelled forthwith if any fraud is committed in relation to a claim. You should inform your next of kin of the benefit and any person authorised to claim it on behalf of your estate should contact an Absa branch.