Vehicle and Asset Finance Protection Plan
Keep moving when you're unable to pay your car installments

Vehicle and Asset Finance Protection Plan

Independence and stability

Keep your pride intake

Keep your wheels safe

The policy covers the debt on your Home Loan in the event of your death, disability, dread disease and retrenchment.

Death cover

  • On your death the outstanding loan amount excluding arrears will be settled.

Total and permanent disability

  • On your total and permanent disability the outstanding loan amount excluding arrears will be settled.

Temporary disability

  • On being declared temporary disabled , the policy will pay a maximum of 12 monthly instalments.

Dread disease

  • On diagnosis of dread disease the outstanding loan amount excluding arrears will be settled.

Retrenchment

  • On retrenchment , the policy will pay a maximum of 6 monthly instalments.

Exclusions

  • If the life insured dies by his/her own hand within 2 years from the date of commencement of the policy, no death benefit will be payable
  • Death resulting directly or indirectly from a cause relating to any pre-existing medical condition for the past 2 years will not be covered for the first 2 years of your policy

Premiums

  • Premiums are calculated on the plan type selected based on rate per R1 000 and outstanding balance.

There are two premium plans to choose from

Monthly reducing balance premium (Plan A, B, F, C):

  • Premiums are calculated monthly and based on the monthly outstanding loan amount.
  • The premiums will reduce monthly with the decrease in outstanding loan amount. The benefit amount at claim stage will be the outstanding balance as at the end of the month when the event happened.

Level Premium (Plan G, H, K, L):

  • Premiums are calculated on the original loan amount and premiums will stay the same (level) for the duration of the finance term. The benefit amount at claim stage will be the outstanding balance as at the end of the month when the event happened.

How do I get vehicle and asset finance Protection Plan?

  1. 1. Please visit your nearest branch.
    Visit nearest Standard Bank Branch
    Branch Locator
  2. 2. Apply online for Vehicle and Asset Finance Protection Plan:

    Get Quotes
  3. 3. Complete the call me back form and a consultant will call you back

    Call Me Back
  4. 4. Call the Vehicle & Assest finance protection plan contact center for assistance

    0860 123 999
Standard Bank Insurance Brokers (Pty) Ltd (“SBIB”) is an authorised financial services provider FSP 224. SBIB is a group company of The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06), an authorised financial services and registered credit provider (NCRCP15). Moving Forward is a trademark of The Standard Bank of South Africa Limited.