If anything ever happens to you, you don’t want to have to worry about loan repayments. 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.

Peace of mind

If something should happen to you our plans will cushion you and your family from your credit commitments.

Get tailored cover

We have a credit protection plan for your specific needs.

Which Absa credit agreements can I cover?

Personal loan

We cover your personal loan if you:

  • Have an Absa Personal Loan between R3 000 - R350 000
  • Are between the ages of 18 and 64

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 repayment for your loan for a limited time.

Study loan

We cover you study loan if you:

  • Have an Absa Study Loan between R15 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 repayment 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.

Revolving loan

We cover your revolving loan 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.

Overdraft

We cover your overdraft 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 if:

  • You have an Absa Credit Card
  • You are between the ages of 18 and 69

The benefits are:

The outstanding balance on your credit card will be paid out in the event of death or total permanent disability up to a maximum of R100 000.
If you are retrenched, 10% of your outstanding balance will be paid out for a maximum of 6 months.
For MasterCard Electronic and Visa Classic credit cards, the maximum amount payable is R10 000 for death and disability and there is no retrenchment benefit.

Vehicle or asset finance

We cover your vehicle and asset finance 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.

  • 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
Contact us

For claims, queries or complaints contact Absa Life on 0860 227 253.

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

Need more help?

Let one of our consultants help you get the best insurance for your needs.

Visit your nearest branch