Simple to get. Easy to understand
Meerkat’s credit life insurance, protects you and your dependents from having to continue payments on your debt in the event of death or loss of income due to permanent disability and/or severe illness or are retrenched.
What does it cover?
- In the event, you die we will settle the full outstanding debt
- In the event, you become permanently and totally disabled we will settle the full outstanding debt
- In the event of temporary disability, we will cover up to 12 monthly repayments and then settle the outstanding debt if no recovery
- Should you suffer from a we will settle the full outstanding debt upon diagnosis
- Should you be retrenched we will cover your debt for up to 12 monthly repayments.
What does it cost?
We have different levels of cover available but our default product will cost R4.50 per every R 1 000 debt you have. So, if you owe R 50 000 your cover will cost R225 per month. On average we can help save our customers an extra R200 per month.
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Who qualifies for Meerkat’s Credit Life Cover?
Customers aged from 18 to age 65 two months before the final instalment is due. You need to be in permanent employment to qualify for any employment related benefits, such as disability or retrenchment.
What if I already have insurance on my loans?
Meerkat’s credit life insurance has been designed to replace the multitude of individual credit life policies you have in a single comprehensive more affordable policy. Better cover at a lower premium.
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