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, terminal illness, suffer a loss of income or in the event of your death.

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Untimely death

Your loan will be paid in the event of your death.

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Disability or illness

Your loan will be paid in full in the case of your permanent disability, terminal illness or critical illness.

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Loss of income

Get the monthly instalments on your loan paid for a period of time if you cannot earn an income or are temporarily disabled.

Credit agreements that we cover

  • Personal or Revolving loans

    Personal Loans

    • An Absa Personal Loan between R1 000 and R350 000 from the age of 18 years
    • If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your loan for a limited time
    • In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your loan will be paid.

    Revolving Loan

    • An Absa Revolving Loan with a limit of up to R350 000 from the age of 18 years
    • If you become temporarily disabled or cannot earn an income, the plan will pay a monthly amount equal to 5% of the average outstanding balance on your facility
    • In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid.
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Terminal Illness Terminal Illness
    Critical Illness Critical Illness
    Loss of income -

  • Study loans

    We cover your study loan if:

    • You are 18 years or older;
    • 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); and
    • You are earning an income for Plan A. Otherwise, Plan B will be offered.

    The benefits are:

    • If you become temporarily disabled or unable to earn an income, the plan covers the monthly instalment of your loan for a limited time
    • Multiple claims are allowed for temporary disability and loss of income
    • In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your loan will be paid
    • Only the sponsor can be covered.
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Terminal Illness Terminal Illness
    Critical Illness  Critical Illness
    Loss of income -

  • Credit card

    We cover your credit card if:

    • You are 18 years or older;
    • You have an Absa Personal Credit Card with a limit of up to R300 000; and
    • You are earning an income, are not older than 63 years and full-time employed for Plan Ax, otherwise Plan Bx will be offered to you if you are not earning an income.

    The benefits are:

    • The outstanding balance on your personal credit card is paid out in the case of death, permanent disability, terminal illness or critical illness.
    • If you become temporarily disabled or cannot earn an income, the plan will pay 5% of the outstanding balance monthly for a limited time.
    • Multiple claims are allowed for both the Temporary Disability and Loss of Income Benefits.
    Plan Ax
    		 Plan Bx
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Terminal illness Terminal illness
    Critical Illness  Critical Illness
    Loss of income   -

  • Overdraft facilities

    We cover your overdraft facility if:

    • You are 18 years or older;
    • You have an Absa Overdraft with a limit of up to R150 000; and
    • You are earning an income for Plan A. Otherwise, Plan B will be offered.

    The benefits are:

    • If you become temporarily disabled or cannot earn an income, the plan will pay a monthly amount equal to 5% of the average outstanding balance on your facility
    • Multiple claims are allowed for both temporary disability and loss of income
    • In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid.
    Plan A
    		 Plan B
    Death Death
    Permanent Disability Permanent Disability
    Temporary Disability Temporary Disability
    Terminal Illness Terminal Illness
    Critical Illness  Critical Illness
    Loss of income  -

  • Vehicle and Asset Finance

    The benefits are:

    • Your loan will be covered in the event of death, temporary and permanent disability, critical illness and loss of income, depending on the plan selected
    • In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid
    • If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your loan for a limited time.

    Plan options:

    • Plan A: Death, Terminal Illness
    • Plan B: Death, Permanent and Temporary Disability, Terminal Illness
    • Plan C: Death, Permanent and Temporary Disability, Critical Illness and Terminal Illness
    • Plan D: Death, Permanent and Temporary Disability, Terminal Illness, Critical Illness and Loss of Income
    • Plan E: Death, Terminal Illness and Loss of Income.

     

     

     

  • Home loans

    We cover your home loan if:

    • You have a Home Loan with Absa;
    • You are 18 years or older;
    • The maximum sum assured is determined by the home loan amount granted up to a maximum of R2 million; and 
    • You are earning an income for Plan A. Otherwise Plan B will be offered. 

    The benefits are:

    • If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your home loan for a limited time
    • In the event of your death, permanent disability or terminal illness, the outstanding balance on your home loan will be paid
    • 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
    Terminal Illness Terminal Illness
    Critical Illness  Critical Illness
    Loss of income   -

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Need more help?

For claims or queries, please call Absa Life on 0860 227 253.

Absa Life Limited is an insurer licensed to conduct life insurance business (I121). Registration number 1992/001738/06. Terms and conditions apply.