Why protect your credit with Absa?

An Absa Credit Protection Plan will alleviate your family's financial burden if you are permanently or temporarily disabled, diagnosed with a critical illness, loss of income or at the event of your death.

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Untimely death

Have Absa credit agreements and worry about not being able to pay them if something should happen to you

Disable sign
Disability or dread disease

Want your loan to be paid in full for death, permanent disability and dread disease

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Loss of income

Want monthly instalments on your loan to be paid for a period if you are unable to earn an income or are temporarily disabled

Which credit agreements can I cover?

We provide credit protection plans that will ease the burden of your loans, credit card bills, as well as vehicle and asset financing instalments in the event that you are unable to due to death, disability, critical illness or loss of income.

  • Personal loans

    We cover your personal loan if you:

    • Have an Absa Personal Loan between R1 000 – R350 000
    • Not older than 63 years of age and in full-time employment for Plan A, otherwise Plan B will be offered if you are older than 63.

    The benefits are:

    • If you become temporarily disabled or are unable to earn an income, the plan covers the monthly instalment for your loan for a limited time
    • If you become temporarily disabled or Loss of income, the plan covers the monthly instalment for your loan for a limited time
    • Multiple claims are allowed for Temporary Disability and Loss of Income.

     

    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Critical Illness  Critical Illness
    Loss of income  

  • Study loans

    We cover your study loan if you:

    • Have an Absa Study Loan of at least R15 000. The maximum sum assured is determined by the loan amount granted (subject to maximum limits).
    • Not older than 63 years of age and in full-time employment for Plan A, otherwise Plan B will be offered if you are older than 63 and not full-time employed.

    The benefits are:

    • The outstanding amount on your Study Loan is paid out for death, permanent disability or critical illness.
    • If you become temporarily disabled or loss of income, the plan covers the monthly instalment for your loan for a limited time.
    • Multiple claims are allowed for Temporary Disability and Loss of income.
    • Both the sponsor and student can be covered. Student is eligible for the Death benefit only

     

    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Critical Illness  Critical Illness
    Loss of income  

  • Overdraft facilities

    We cover your overdraft facility if you:

    • Are aged 18 years and older. 
    • Have an Absa Overdraft with a limit of R150 000
    • Are not older than 63 years of age and in full time employment for Plan A, otherwise Plan B will be offered

    The benefits are:

    • The facility amount on your overdraft facility is paid out when you pass away, become permanent disabled or critically ill
    • If you become temporarily disabled or are unable to earn an income, the plan will pay 5% of the facility amount monthly for a limited time. 
    • Multiple claims are allowed for both temporary disability and loss of income benefits
     
     
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Critical Illness  Critical Illness
    Loss of income   

  • Credit card

    We cover your Credit Card if you:

    • Are aged 18 years and older
    • Have an Absa Personal Credit Card with a limit of R150 000
    • Not older than 63 years of age and in full time employment for Plan A, otherwise Plan B will be offered

    The benefits are:

    • The outstanding balance on your personal credit card is paid out for death, permanent disability or critical illness
    • If you become temporarily disabled or are unable to earn an income, the plan will pay 5% of outstanding balance monthly for a limited time
    • Multiple claims are allowed for both temporary disability and loss of income benefits
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Critical Illness  Critical Illness
    Loss of income   

  • Revolving Loan

    We cover your Revolving Loan if you:

    • Are aged 18 years and older
    • Have an Absa Revolving Loan with a limit of R200 000
    • Are not older than 63 years of age and in full time employment for Plan A, otherwise Plan B will be offered

    The benefits are:

    • The facility amount on your Revolving Loan is paid out when you pass away, become permanently disabled or critically ill
    • If you become temporarily disabled or are unable to earn an income, the plan will pay 5% of the facility amount monthly for a limited time.
    • Multiple claims are allowed for both temporary disability and Loss of income benefits
     
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Critical Illness  Critical Illness
    Loss of income  

  • Vehicle and Asset Finance

    We cover your Vehicle Finance Facility if you:

    • If you become temporarily disabled or are unable to earn an income, the plan covers the monthly instalment for your loan for a limited time.

    The benefits are:

    • Your loan will be covered in the event of death, temporary and permanent disability, dread disease and loss of income, depending on the plan selected.
    • If you become temporarily disabled or are unable to earn an income, the plan covers the monthly instalment for your loan for a limited time.
    • If you become temporarily disabled or loss of income, the plan covers the monthly instalment for your loan for a limited time

    Plan Options:

    • Plan A: Death
    • Plan B: Death, permanent and temporary disability
    • Plan C: Death, permanent and temporary disability and dread disease
    • Plan D: Death, permanent and temporary disability, dread disease and loss of income

Need more help?

Call Absa Life on:

0860 227 253

Visit an Absa branch to apply:

We will help you locate your nearest branch with the help of your located based services (your smart device location), we’re smart like that.

Locate nearest branch

Underwritten by Absa Life (Absa Life Limited, registration number 1992/001738/06)