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, retreenched or even of your death.

Untimely death

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

Disability or dread disease

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

Retrenchment

Want monthly instalments on your loan to be paid for a period if you are retrenched or temporary 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 retrenchment.

  • Personal loans

    We cover your personal loan if you:

    • Have an Absa Personal Loan between R1 000 – R350 000
    • 18 years of age for Plan A and Plan B.
    • 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:

    • The outstanding amount on your personal loan is paid out for death, permanent disability or dread disease
    • If you become temporarily disabled or retrenched, the plan covers the monthly instalment for your loan for a limited time
    • Multiple claims are allowed for Temporary Disability and Retrenchment.

    Plan A

    • Death
    • Permanent Disability
    • Temporary Disability
    • Critical Illness 
    • Retrenchment

    Plan B

    • Death
    • Permanent Disability
    • Temporary Disability
    • Critical Illness

  • Study loans

    We cover your study loan if you:

    • Have an Absa Study Loan between R30 000 – R250 000
    • Are between the ages of 18 and 64 

    The benefits are:

    • The outstanding amount on your study loan is paid out for death, permanent disability or dread disease of the sponsor
    • If you become temporarily disabled or retrenched, the plan covers the monthly instalment for your loan for a limited time
    • If applicable, the outstanding amount on your study loan will be paid out in the event of death of the student

  • Overdraft facilities

    We cover your study loan if you:

    • Have an Absa Overdraft with a limit less than R150 000
    • Are between the ages of 18 and 64

    The benefits are:

    • An amount equal to your overdraft facility is paid out for death, permanent disability or dread disease
    • If you become temporarily disabled or retrenched, 3% of your approved overdraft facility is paid for a limited time

  • Credit card

    We cover your Credit Card Facility if you:

    • Have an Absa Credit Card with a limit less than R100 000
    • Are between the ages of 18 and 69

    The benefits are:

    • The outstanding amount on your credit card facility is paid out for death or permanent disability
    • If you become retrenched, the plan covers 10% of the average outstanding amount for a limited time

  • Revolving loan

    We cover your Credit Card Facility if you:

    • Have an Absa Revolving Loan facility less than R150 000
    • Are between the ages of 18 and 64

    The benefits are:

    • An amount equal to your loan facility is paid out for death, permanent disability or dread disease
    • If you become temporarily disabled or retrenched, 3% of your approved loan facility is paid for a limited time

  • Vehicle and Asset Finance

    We cover your Credit Card Facility if you:

    • Have approved financing of less than R1 000 000
    • Are between the ages of 18 and 59 

    The benefits are:

    • Your loan will be covered in the event of death, temporary and permanent disability, dread disease and retrenchment, depending on the plan selected.
    • The outstanding amount on your Absa Vehicle and Asset Finance (AVAF) loan is paid out for death, permanent disability or dread disease
    • If you become temporarily disabled or retrenched, 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 retrenchment
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

Need more help?

Call Absa Life on:

0860 227 253

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