Loan Protection Plan

Have a personal loan, overdraft, revolving credit plan or student loan? Insure your outstanding balance with a loan protection plan.

Some of the benefits

Minimum benefit

Get minimum cover of R20 000 when you claim regardless of your outstanding balance in the event of death, permanent disability or dread disease

Full settlement

Settle your outstanding balance in the event of death, dread disease or permanent disability

Financial support

Insure you outstanding balance for up to R 300 000

Reducing premiums

Pay less every month as your outstanding balance reduces

What’s covered

Up to 12 months’ instalments if you’re retrenched or temporarily disabled.
Your outstanding balance is settled in full in the event of death, dread disease or permanent disability.
A minimum cover of R20 000 in the event of death, permanent disability or dread disease.

Underwritten by Liberty Group.

Personal loan protection plan terms and conditions
Debt protection plan terms and conditions

^{Terms and conditions apply. Standard Bank Insurance Brokers (Pty) Ltd (Reg. No. 1978/002640/07) is an authorised financial services provider (FSP 224) and part of the Standard Bank Group.}

Exclusions

There’s a 12 month waiting period for retrenchment cover
Cover for retrenchment, dread disease, temporary disability and permanent disability ends at age 65
Death cover ends at age 75
Suicide is excluded for the first 24 months of the policy
Pre-existing medical conditions from the last 12 months aren’t covered for the first 12 months

What it costs

Minimum premium of R4 per policy
Premiums are calculated monthly on your outstanding balance
Your premium decreases as the balance of what you owe decreases
40% discount applies to the rate for the younger person insured in joint life policies

How to claim

Call us on 0860 123 999
Or speak to us at your nearest branch

What’s covered
Exclusions
What it costs
How to claim

Up to 12 months’ instalments if you’re retrenched or temporarily disabled.
Your outstanding balance is settled in full in the event of death, dread disease or permanent disability.
A minimum cover of R20 000 in the event of death, permanent disability or dread disease.

Underwritten by Liberty Group.

Personal loan protection plan terms and conditions
Debt protection plan terms and conditions

^{Terms and conditions apply. Standard Bank Insurance Brokers (Pty) Ltd (Reg. No. 1978/002640/07) is an authorised financial services provider (FSP 224) and part of the Standard Bank Group.}

There’s a 12 month waiting period for retrenchment cover
Cover for retrenchment, dread disease, temporary disability and permanent disability ends at age 65
Death cover ends at age 75
Suicide is excluded for the first 24 months of the policy
Pre-existing medical conditions from the last 12 months aren’t covered for the first 12 months

Minimum premium of R4 per policy
Premiums are calculated monthly on your outstanding balance
Your premium decreases as the balance of what you owe decreases
40% discount applies to the rate for the younger person insured in joint life policies

Call us on 0860 123 999
Or speak to us at your nearest branch

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