Sanlam Credit Life Cover

Protects you and your family against outstanding debt should something happen to you.

From as little as R100 pm
About Credit Life Cover

Security for your loan

Sanlam Credit Life Cover is designed to protect you and your family and give you peace of mind when taking out a larger loan like a home loan. It ensures that your loan is paid if you are unable to do so, helping your family to maintain the lifestyle you planned and ensuring that your loved ones are not left with debt.

Cover Explained

How it works

When you take out a loan, you’re responsible for paying it back in instalments. But what if you’re unable to pay your loan due to retrenchment or disability, or because you pass away? Sanlam Credit Life Cover acts as security for your loan and provides:

Death cover for the amount of the loan
Permanent disability cover for the amount of the loan
Temporary disability cover for loan instalments for up to 12 months
Retrenchment cover for loan instalments for up to 12 months
Benefits

Why Sanlam Credit Life Cover?

Straightforward, competitively priced cover
Option to keep the cover after your loan has been settled to potentially provide whole-life personal cover
Value of the cover will remain the same for the length of the policy
A nominated beneficiary can receive the remaining funds after your loan has been settled, should you pass away
Cover Options

What about additional cover?

all
lump sum
monthly payout
Monthly Payout
Income Protection

Sanlam Income Protection protects you and your family against temporary and permanent illness or disability with a monthly payout that helps to support your current lifestyle.

Lump Sum
Life Insurance

Sanlam Life Insurance eases the burden on your family should you die unexpectedly, by paying out a tax-free lump-sum amount that can be used to cover their expenses now and in years to come.

Lump Sum
Funeral Cover

Is your family in a position to cover the costs of a funeral? Sanlam Funeral Cover offers up to R100 000 cover for you and up to 21 beneficiaries, with most claims paid out within hours.

Lump Sum
Disability Cover

Sanlam Disability Cover helps you manage the financial implications of a permanent disability with a lump-sum payout that can be used for day-to-day and disability-related expenses.

Lump Sum
Severe Illness Cover

Would you be financially stable if you were suddenly diagnosed with a serious illness or suffered a heart attack? Sanlam Severe Illness Cover helps you cover everyday expenses as well the costs associated with a dread disease.

Lump Sum
Cancer Benefit

The Sanlam Cancer Benefit provides comprehensive cover for cancers, tumours, leukaemia and lymphomas with a cash payout that can be used for out-of-pocket medical costs and the many hidden expenses associated with this disease.

Speak to an expert

If you need help deciding what your next steps should be, speak to a Sanlam adviser who can help you make the best choices for you and your loved ones.

Product Information

Take a closer look at our cover

When your loan is paid in full
Once the loan amount is paid in full, you have the option to keep the benefit to potentially provide you with whole-life personal cover.
Claims process
Because we understand that claims are submitted under very difficult and distressing circumstances, we’ve kept the process as simple and straightforward as possible. All claims can be submitted online in a few easy steps, and we’re here to help you every step of the way.
Skipped payments and payment holidays
We understand that life can throw you curveballs from time to time, which is why we have options in place to help you maintain your cover while you get things back on track. As a Sanlam Credit Life Cover client, you may request a three-month payment holiday, during which time you’ll still benefit from limited cover.
Underwriting
It may sound complicated, but underwriting is essentially the process your insurance provider uses to determine your risk status. This in turn affects your cover amount and monthly premiums and establishes whether any terms and conditions apply to your policy. To help our underwriters calculate your status, you’ll be asked to supply information relating to your health, medical history, occupation and financial situation as well as details about where you’ve travelled or plan to travel and any potentially dangerous activities you participate in. You may also be required to complete a medical test. Our underwriting process is designed to ensure that you pay a fair premium for the full term of your cover and that your beneficiaries are able to claim confidently when the time comes. As carrying more risk for our clients forms part of our underwriting philosophy, your policy will remain unaffected should you change your occupation or smoking habits or take up risky activities after it has been issued.

Got questions about your cover?

We are here to assist with any financial advice, claims or policy related queries or concerns.

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