Credit Life provides a safety net for you and your loved ones.
M-Sure will pay the outstanding debt on your car finance agreement when you become seriously ill, are unable to work, or pass away.
How do you benefit from
Credit Life Cover?
- If something happens to you and you can no longer pay:
- Your financed car will be paid off or your instalments will be covered
- Your family may get the same amount of money to use as they wish (Gold Plan)
- You get 10% cashback on premiums paid (Gold Plan)
- You can finance your car without risk.
You can purchase the Credit Life Plan through our national call-centre.
Case in point –
How does Credit Life Cover benefit Thato?
Thato buys his dream double cab. It is big enough to take his wife and three teenage daughters on holiday. The bakkie costs R530 000 which Thato finances through his bank. Thato is in good health for his age, but he worries about his family should something happen to him. M-Sure’s Credit Life Cover that provides for diseases, disabilities and unforeseen life events gives him some peace of mind.
Two years later, Thato suffers from a stroke that leaves him paralysed on his left side. He can no longer work and worries about the financial burden of his remaining car instalments. Thato’s Credit Life policy kicks in and pays the outstanding vehicle amount owed to the bank. Fortunately, Thato had purchased the Gold Plan and the same amount is also paid to his family and Thato’s wife uses it to pay for physical therapy to help him on his road to recovery.
Credit Life Plan options
|Plan Options available||Gold||Silver||Bronze Option 1||Bronze Option 2|
|Entry age group specifics|
|Permanent total disability||*||*|
|Temporary total disability||**||**|
Hospitalisation or Retrenchment
* We will look after the outstanding amount due to the bank
** We will pay your monthly premiums due to the bank
^ Paying the following additional amounts:
^ Same amount that we pay to the bank, to your family
^ A percentage of all premiums paid [excluding fees], provided that the policy expires after month 36.
Expertly crafted solutions
for cars and their people.
Credit Life FAQs
What unforeseen life events does Credit Life cover?
- Serious illness: cancer, stroke, heart attack, heart bypass surgery
- Becoming totally and permanently disabled
- Becoming temporarily totally disabled
- Prolonged hospitalisation or retrenchment