- Pre-existing conditions for the past 12 months are excluded for the first 12 months
- Suicide within the first 24 months of the commencement of the policy
No medical examination is required and you are covered in the event of the following:
The outstanding balance on your credit card, including the budget account will be settled in full up to a maximum of R120 000. Death cover ceases at age 75, except for accidental death which ceases at age 65.
- Double Accident
In the event of accidental death, double benefits will be paid up to a maximum of R120 000. One amount will be used to settle the outstanding balance on the account and an equivalent amount will be paid to your estate. This benefit does not apply to the secondary cardholder.
Settlement of the outstanding balance on your Standard Bank credit card, including your budget account at the time of becoming permanently disabled, up to a maximum of R120 000. Cover ceases at age 65. This benefit does not apply to the secondary cardholder.
The minimum monthly repayment of the amount owing on your Standard Bank credit card will be paid for up to six months. In addition, the Credit Card Insurance premium will be waived for six months. There is a six-month waiting period for retrenchment cover. Cover ceases at age 65. This benefit does not apply to the secondary cardholder.
The secondary cardholder receives free death cover.
The premium is based on a rate of R3.68 for each R1 000 of your monthly outstanding balance which is debited directly from your credit card. A policy fee of R4 will be applicable.
The policy covers the debt on your Standard Bank credit card in the event of your death, disability and retrenchment.