Credit Life Cover
Protect you and your loved ones from debt repayments when the unexpected happens
Secure Your Finances & Future
If there's one crucial lesson the Covid-19 pandemic has taught us, it's the fragility of job security. Our primary income is like a table with a single leg — when that leg breaks, the entire structure collapses. So, what happens to your debt if you suddenly face retrenchment?
Enter credit life cover. With retrenchment cover and a comprehensive salary protection plan, you can have peace of mind knowing that if the unexpected happens, your loan insurance will support you. This allows you to continue caring for your loved ones, even in challenging times.
Credit insurance is always a good investment, no matter how secure you might think your career is. The Meerkat credit life insurance plan goes above and beyond with comprehensive cover in the event of death, temporary and permanent disability, and retrenchment.
You probably already have credit life insurance on your loans. Why not get a FREE online comparative quote and SAVE money?
Our insurance policy is underwritten by Old Mutual Alternative Risk Transfer Limited, part of the Old Mutual Group.
Why Choose the Meerkat Credit Life Insurance Plan?
Save Money
One affordable payment to cover multiple different credit life policies.
Cost-Effective
Competitive premiums that allow you to get more credit life insurance for less.
Effortless
Sign up and make claims all in one place with our quick and easy digital process.
FAQ
Free resources to help you understand the importance of credit life insurance.
What is credit life insurance?
CLI is cover that is added to your unsecured loans at time of application. (We do not cover secured loans i.e vehicles and bonds). This cover protects you in the event of death, disability, or retrenchment. Your debt continues to be paid when you have no income.
Who can get cover?
An applicant will be eligible for cover under this Policy if he/she is aged 18 (eighteen) at commencement, and his/her final credit agreement repayment date is at least 2 (two) months before he/she reaches the age of 65 (sixty five) years.
How do I claim?
Contact insurance@meerkat.co.za or call 021 003 4534.
OMART will only pay valid claims directly to the bank accounts of the credit providers on record at the time of receipt of the claim.
A claim must be made within 3 (three) months of the Claim Event. If the claim is only submitted after the aforementioned 3 (three) months, an affidavit which explains the reason for the delay and which supports the claim documentation will be required.
When can I claim 10% premium cash back?
When the policyholder has settled one of the covered loans, has not missed any premiums, has not ended the credit facility due to refinancing and has not claimed.
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