Assetlife Credit Protection Insurance

How does Assetlife Credit Protection Work?

1. It settles your credit card balance on death, retrenchment or disability
2. Assetlife provides cover for the full original balance of credit agreement
3. They ensure that your creditworthiness is upheld
4. Assetlife comes from an authorised financial services provider – Zestlife
5. With Assetlife, premium reductions can be up to 70%

This credit insurance product preserves your credit health and ensure your peace of mind. If you die or are retrenched or incapacitated, credit protection pays your outstanding credit card balance and other debts.

Ensuring Good Credit Health with Credit Protection

Credit protection preserves your credit health and protects you from practices that could harm you as a consumer.

Not all credit protection insurance is the same and it’s precisely the reason you have to do research and discover where you can get a better deal. Conventional credit protection, as you’d get from the bank for instance, provides cover for the outstanding balance of the credit agreement settled directly with the bank.

Assetlife’s cover is a cut above as they provide cover for the full original balance of the amount with the bank. The balance is payable to the policyholder or their beneficiary.

Why Assetlife Credit Protection is Cheaper

Of course, the first thing people want to know about Assetlife is how can they manage to offer such low monthly premiums when the banks aren’t able to, and we give you a couple of reasons –

• Conventional credit protection policies cover a single credit agreement. However, Assetlife can cover multiple credit agreements. So you don’t only get credit card protection, but you’re able to cover your car contract, home loan as well as personal loans. Gone are all those huge administration costs you get with multiple policies – now you just have one.
• Conventional credit protection doesn’t customise their protection – they charge the same premiums regardless of what or who you are. Assetlife, on the other hand, makes sure that their premiums match to your unique circumstances.
• Assetlife charges reasonable premiums, reflecting the risks covered whereas convention credit protection has premiums which allow for unreasonable profit margins.

 

Make sure Your Family Doesn’t Inherit your Debt

This is particularly important for when you want to apply for credit in the future. Your credit score will determine whether you are creditworthy. Not only that, credit protection insurance makes sure that nobody else is going to inherit all your debt. Imagine your spouse or children having to face this! It would leave them with feelings of bitterness for sure.

Today, banks insist on customers taking credit protection insurance when they get credit. It can be expensive though. But not if you do research and get your credit protection from a reliable and affordable source – from Zestlife.

Zestlife is a reputable, authorised financial service provider who ensure that you have credit protection with the lowest premiums. Their policies have been got together to protect you and your family from all the financial consequences that death can bring about as well as disability, injury or illness.

Zestlife’s policies will provide funding for your medical- and daily living expenses and also see to the settlement of outstanding debt such as credit cards, car finance and a home loan.

People rightly want to know what is precisely covered by the Assetlife policy, and it covers the policyholder for –

• Death and Permanent Disability
• Dread Disease
• Retrenchment
• Family cover for road accident injury and road accident claims

Premium Reductions of up to 70%

You can benefit from Assetlife and enjoy credit protection for less than charged by banks and other companies. In fact Zestlife will tell you that switching from bank credit protection for instance and moving over to Assetlife can mean premium reductions of up to 70%. That is certainly worth anyone’s consideration.

The policy doesn’t have a savings component as this is a risk only insurance and the benefits are only payable in the event of death, critical illness, permanent disability or retrenchment. This is to ensure premiums are as low as possible.

The policy provides automatic access to double the original amount insured. The benefit of this too is that there won’t be the need for insurance applications or medicals when you’re looking for additional credit protection for other finance agreements. You simply make use of the same policy as often as you need.

The Assetlife Policyholder has Options

There are other aspects about Zestlife’s Assetlife that make this cover better than from another credit protection provider. For instance, when the finance agreement which is being covered by Assetlife has been repaid, the policyholder is provided with options.

The policyholder can either choose to use the policy to cover future finance agreement or they can choose to continue with the cover whereby it will switch automatically to a normal life insurance policy. This will then cover both  death and disability. The policy will pay the policyholder or their elected beneficiary.

Assetlife has a cover limit of R10m. For cover of up to R1m there is no medical examination. Assetlife has a pre-existing conditions clause and you’ll see it excludes claims that come about because of conditions that the policyholder was aware of 12 months before taking out the policy.
The policy also has some general exclusions such as claims from suicide or participation in crime. These sorts of events or actions will ensure you don’t qualify for the policy benefit.

In general,  conventional life cover ensures your surviving family has enough to cover their living expenses when you die or suffer a permanent disability. Assetlife caters for the settlement of creditors should you die or become permanently disabled.

Call them – it’s all so Easy

Zestlife makes sure that everything about them is easy, convenient and affordable. Zestlife offers products which are seriously worth your consideration. You can request Assetlife cover telephonically and it will start from the first day of the month in which the first premium is due. You can call Zestlife on 021 180 4220 or e-mail info@zestlife.co.za

* Zestlife is a financial service provider FSP 37487 and that the information on the page does not constitute advice but is factual information only.