But, ultimately, you should not have to use these savings at all. It pays out until you can continue working This might vary according to the retrenchment insurance provider you have chosen, but you will receive a payout until you can find another job or until the end of the term of the insurance. Thuli Zungu Consumer Line. 0000009489 00000 n 0000009193 00000 n < The thought of being retrenched is a scary one. So R15 000pm cover (for up to 6 months) will be about R150pm premium. 0000054642 00000 n 0000007731 00000 n a�4�(�����H�q4X�$?��\���T�d�k��.P?��8�E�ņ�Ay��;�'M�Vs�.�~HKx�P�$mǾ7��S�7�]����,�$™�1�T:��ưҡ�A�!�� ��t ��=?�7�1]aa`�`H`S8�0�A�a���*�f#f6V�a`,��Y@QP�a`ČwF�� %T�U� �R����� ���� Call 0860 333 111 View Terms & Conditions. xref �d����fK����,�,�0�9���~@iO�d�X�3�Xa_]2��� ��R4;p�sD[a~�0�]��T�w��NuyJ�݇�,l�=� d }]��oD� 0000003968 00000 n Retrenchment Protector . 27 89 This cover will pay out a lump sum equal to 5% of the life cover, up to R100 000.They also waive the premiums for 6 months. We have been informed that he/she was recently retrenched. 0000071969 00000 n This lump sum only pays out once. 0000012162 00000 n Retrenchment benefits may seem few and far between You can make sure that you know your legal rights in terms of what retrenchment benefits are due to you. 0000071582 00000 n 0000011168 00000 n Get a quote. Having this policy in place allows you to look for work without having to worry about how you will continue to repay the bills. PPS Short-Term Insurance providing relief for motor vehicle premiums paid for the month of April by means of a 20% discount. Contractual relationships and accreditation WesBank Credit Card, issued, financed owned and administered by FirstRand Bank Ltd. An Authorised Financial Services and Registered Credit Provider. 0000003413 00000 n ���$���}� �kZg In the event of Being prepared is the responsible thing to do. One of the most effective ways to protect yourself and your loved ones is to take out retrenchment insurance, a type of insurance that will cover your salary for six months after you are retrenched. 0000072250 00000 n h�b```f`�g`g`?� �� l@Q�%�2j200������4���!��r��ɦ���vA�X��o&(�uj.y%�*lc��7��.�N{'��362�O�P�P^�����~ή���X*�\���-i����)��LxE�ʨ���o�z8�m�}E/o�= ��Q�*:� ̹.�إ���ұK 0000067285 00000 n Receive retrospective payout. 0000015025 00000 n This is beneficial for those who are the sole breadwinner of the household or those whose extended family relies on them for financial help. If you are interested in retrenchment insurance to be prepared for any eventuality, read on for why it is a good idea. These affordable products are available to all customers with asset-based WesBank finance. Wealth Creation. • Retrenchment Cover In the event of Death or Permanent Disability, the debt covered is the outstanding balance of your personal WesBank Credit Card/Petro Card account or the Specified Maximum Amount (see table below), whichever is the lesser, as at the date of Death or Permanent Disability. We offer retrenchment insurance and for us to assess whether this client qualifi es for cover, we need your help … 0000054895 00000 n 0000002627 00000 n OUTsurance is well-known in South Africa for their phrase "You always get something out!". 0000073643 00000 n OUTbonus paid in cash. This allows you not to default on any loans, repayments or debts while you are unemployed. This will allow you to repay loans and debts as well as find work or begin another startup. SURANCE Your OUTsurance … You can go to the doctor or the hospital and not have to worry about whether or not your bill will be paid, which can decrease stress significantly. 0000051924 00000 n Retrenchment due to adverse business conditions, introduction of new technology, or the reorganisation of the business, resulting … Plus, enjoy the backup of 24/7 roadside assistance. If you happen to lose your job due to retrenchment, then the policy will pay you out for up to six months, to help cover your loan repayments. This is because they offer 10% of your car insurance premiums back to you if you do not claim in a three-year period. NCRCP20, has entered into an intermediary agreement with FNB Life, a H�\��n�0��~ View some of our great solutions below and feel free to talk to an adviser or contact our call centre for more information. This is to cover the value of the debt you owe should you pass away, or assist in paying off your debt if you are retrenched or disabled,” explained Wason. 0000010191 00000 n An engineers’ insurance policy covers everything from accidental damage, to machinery and equipment, to public liability cover. This cover starts on the 1 st day of the month after your account is opened. One of the most effective ways to protect yourself and your loved ones is to take out retrenchment insurance, a type of insurance that will cover your salary for six months after you are retrenched. Retrenchment Cover, Tax Planning, Retirement Planning, Bussiness Assurance (Contingent Liability Plans), Education Plans, Collective Investment Schemes (Unit Trust and Exchange Traded Funds). Retrenchment is often unexpected and unavoidable. 0000012744 00000 n 0000004413 00000 n Keeping your savings untouched will also help once the retrenchment insurance has stopped the payouts and you have battled to find work. 0000073577 00000 n Your income is essential to many things. Straightforward cover. Credit ombud Nicky Lala-Mohan. You will be able to keep those savings for what you planned to use them for, instead using the insurance payments to live off of. 0000070908 00000 n 0000056483 00000 n Called Outsurance to assist and see process forward for the credit protection to be activated I get told I do n It is important that you make a concerted effort to find new work, as your insurance company will have a cut off point for the policy. LET YOU MONEY WORK FOR YOU! The Developers of the Arrive Alive Road Safety website are also driving the launch of the Blog at Insurancechat.co.za. We have Life Cover products with different levels of underwriting so that you can choose the one that is best for you. 0000057150 00000 n You will need to discuss options with your insurance broker if you are self-employed, as some providers might see you as a high-risk applicant and might offer you higher monthly premiums because of your employment situation. Very often, the results allow us to offer more affordable life cover, by matching your premium to your risk. 0000067659 00000 n With affordable premiums on standard, affordable housing and access home loan protection plans, your bond is settled in the event of death or permanent disability. BrightRock seem to suggest that a client would be better off channelling retrenchment protection premiums into additional injury/illness cover or towards a savings vehicle. Youi is an insurance product provided and underwritten by OUTsurance Insurance Company Limited and OUTsurance Life Insurance Company Limited, authorised financial services providers (896). Discussion & Guide to Finding the Best Insurance. Good day We took out a credit protection premium with outsurance which is supposed to assist us when in times retrenchment,critical illness ect In the terms and conditions there is nothing stipulated regarding the covivid 19. 0000067596 00000 n 0000069498 00000 n 0000071283 00000 n 0000008638 00000 n Cover your car and enjoy our full range of great benefits, such as a fixed excess, 12-month guaranteed premiums and our famous cash OUTbonus. 0000054573 00000 n With regards to personal insurance, a number of products are offered including a customer protection plan (known as Credit Life), a health credit policy, and a retrenchment policy. 0000056184 00000 n retrenchment cover. This means that if the policyholder is forced to leave his job as a result of the company downsizing or saving on costs, then the insurance company will pay out a portion of the insured’s salary for a limited time, usually six months. The past 7 years of commitment to create road safety awareness has also contributed to a greater understanding of not only the tragedy and despair of road accident victims - but has also the dire financial consequences for victims and those left behind. Monthly injury or illness payouts until you work again or turn 65. On Friday, 1 May. Members of the Rand Merchant Insurance Holdings (RMIH) Group. The higher the level of underwriting, the more cover you get for the same monthly premium. 115 0 obj <>stream <]/Prev 103432>> 0000067805 00000 n 0000022267 00000 n This allows you not to default on any loans, repayments or debts while you are unemployed. The reason retrenchment cover is not widely offered can be summed up in a word insurers dread: anti-selection. 0000004378 00000 n No extensive physical medical examinations. 0000073262 00000 n The arrest followed after police were informed, The Northern Cape SAPS Organised Crime Detective Unit arrested one male suspect for recent alleged hijackings. Credit ombud Nicky Lala-Mohan. Retrenchment Cover is only for Retrenchment. 0000066583 00000 n 0000056121 00000 n 0000016885 00000 n 0 The monthly premium you would have to pay for this cover is R282.06. The reason retrenchment cover is not widely offered can be summed up in a word insurers dread: anti-selection. Sanlam Indie Income Protection provides you with a reliable monthly income if you’re no longer able to work because of a disability. If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. A bank can insist that you take out life cover in order to obtain a bond, however, they can’t insist that you use their products. In February 2014, retrenchment was at a ten-year high. A major fear of the employed is job loss. Retrenchment cover is not a comprehensive salary protection insurance policy. 0000069395 00000 n 08 July 2019 - 07:59 . It helps if you are self-employed If you are self-employed or if you run your own business, retrenchment insurance or income protection insurance is vital. 0000007073 00000 n Free HIV testing nationwide – choose between a rapid HIV test, which is done by a simple finger prick or a standard HIV blood test. ;r;$�W� � ��1z� ��J(D�o�^Bߦ)��A�v(Kǥ0lA`�w��;/��'"�y�ֱ�y��k��B�.:�c����"v. You will no longer be bringing in a salary and if you are the sole breadwinner in your household, your lifestyle will have to change dramatically. 0000068797 00000 n Receive retrospective payout. e��cU�R�0��1�uA1��DLSE?َ��Tu�+mE�o؃�7tv��R��'�k��E;. Resignation, Retrenchment, Dismissal Preserving your fund benefit when you leave the Company not only provides a huge tax benefit, but is also essential to ensure sufficient provision for your retirement. This can be a difficult and stressful time, but you can remedy this by being proactive and taking measures to ensure that you and your family are taken care of should this happen in the future. If your business should unexpectedly have to close, you will be left without the ability to repay any business loans and without a salary. Outsurance are advertising for a new recruit to be tasked with setting up a broker distribution model for their Commercial Insurance product, something that is almost certain to be seen as a U-turn on their main value proposition, cut out the middle man and save money. @#���pu�l�J㠻�C�������4Z���(���VU7-��d��4u](����=�P�A�Z�ͬ*�P�dk��A�) W�2{Cs��C�w�ؔ� 0000066510 00000 n Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test. 0000014910 00000 n As mentioned, it does not cover you if you get dismissed from your job or if you electively leave (or quit). In the event of death, disability, dread disease or loss of income, your Bond Protector insurance will assist you with your outstanding bond so that your loved ones still have a place to call home. Bond Cover pays the original bond amount in the event of death, dread disease or permanent disability, and pays the monthly bond instalments in the event of illness, injury, temporary disability and retrenchment. If you have not found work within this period, it will be difficult to continue paying bills and other financial obligations without the help of your retrenchment insurance. If you happen to lose your job due to retrenchment, then the policy will pay you out for up to six months, to help cover your loan repayments. This event can threaten your financial security. 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Medicines are becoming more and more expensive and if you are not receiving a salary, it can become debilitating. It reduces the life cover by the amount paid out Retrenchment Cover is a way to safeguard your income. endstream endobj 40 0 obj <>stream 0000002878 00000 n 27 0 obj <> endobj The amount depends on whether your account type is a Gold Value Bundle (R2 500 … 0000073759 00000 n 0000073833 00000 n 0000009514 00000 n The cover protects you for the full loan term, up to a maximum of 60 months. Company Reg. 0000074131 00000 n This allows you time to find new work, which is essential in today’s economy. It helps with illnesses during this time If you become ill during your retrenchment period, having insurance will allow you to pay any doctors bills. 0000010108 00000 n The types of insurance included in an engineers insurance policy are combined to form a complete portfolio and are often underwritten by specialist insurance companies. Key Features. This is a natural dis 0000005147 00000 n 0000000016 00000 n OUTsurance Credit Insurance offers accessible, easy and affordable options for clients who need a cover or security against their salary or their outstanding debt balances. If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. Retrenchment insurance covers the insured’s salary in the event that he or she gets retrenched. Members have the option to convert or continue their death cover. Resignation, Retrenchment, Dismissal Preserving your fund benefit when you leave the Company not only provides a huge tax benefit, but is also essential to ensure sufficient provision for your retirement. 0000006051 00000 n A disability insurance policy will cover this, even if the disability is temporary. 0000072355 00000 n For retrenchment Update your policy How to change debit order details ... You can get up to a maximum of three months' free interim death cover while your bond is being registered. This is to cover the value of the debt you owe should you pass away, or assist in paying off your debt if you are retrenched or disabled,” explained Wason. Minimum entry age: 18 next birthday Maximum entry age: 66 next birthday Key features and benefits Death benefit You can apply for cover equal to your loan amount up to a maximum of R200 000. For official Government information about COVID-19, please visit www.sacoronavirus.co.za 08 600 60 000 This allows you to continue paying your debts and obligations, and allows your family to continue living as comfortably as possible until you find new employment. Download the credit protection critical illness cover table - English. 0000054968 00000 n 0000072324 00000 n You get the monthly payment for two consecutive months into your account should you be retrenched. Retrenchment Cover Assessment The abovementioned person is a Capitec Bank client. Monthly injury or illness payouts until you work again or turn 65. If you are leaving the Company, you may wish to preserve your fund benefit. endstream endobj 41 0 obj <> endobj 42 0 obj <> endobj 43 0 obj <> endobj 44 0 obj <> endobj 45 0 obj <> endobj 46 0 obj <>stream *�@�Z6�d�[�Օ1j[H���^!L��� �[�%�?XL-m�;tU�� �]E�j��uTc�t�^11���?���ݴ�$���S����k��4!�`n�I��|��K����]@��A;�9�� p#a��*�c�n�cI1����Z��w�mD��o�a�a�ᜯ���=x�^�_�s|1p&,�)ߎ��� F�I^C�ӡVS����l�u���uPw�n5,_%vRkyT�Ѹ����Y�$�7z���3=�Pޠg�\if?UY�q���3́�����[W��gw\�����k5�����$�V�8�ߐ=y�P_]Y���h 0000004900 00000 n 0000034452 00000 n 0000074413 00000 n In addition, you can apply to increase your cover at any time with Standard Bank’s Life Cover, Serious Illness Cover, Salary Protection and Disability Cover. H��Vێ�6}�ẈY�2%Y�],�f�^��(�>�m��%�����;C�|�E��� ��2s��9�}J���O2����Jo�.�7OS�;o�6���~���E�ZBz�&K��>��/�݀�rH?�7Gϕ����z3����&�'X��k���������9IY���A`܏a�WYs����T{iR�I�Cw�̂n4�d�r 0000068383 00000 n Protecting your income as a small business owner or as someone who is self-employed will give you peace of mind should you have to close up shop. You can use some of your savings to supplement the retrenchment insurance if you feel that you need more to repay your debts. �C�k�a`�e��ڱl��JfXl�8����t0�-���-yj�m�;%�a�!DO8��B�c���W�U��d��w�\pj㐄1 ?�9Za��S�{!��Ba�u�� �%��0P�4�q�Ao6_� +vh=�CY��)>׌�k}��q�㜭C�qDaG散����Q��- �7�R��y~�VZW��&�G�a�-D�n�Z�̄���唁��_ �q� Direct application process. V�ݹ�UvG trailer Several other online mediums have been included in the drive to create a better understanding of the need for safety. 0000056371 00000 n 0000069425 00000 n OUTsurance life cover Our advisors certainly know what they’re talking about and they’ve got your best interests (and that of your family) at heart. 0000067732 00000 n Other benefits they provide include: Free roadside assistance 12 Months guaranteed 0000007213 00000 n Straightforward cover. 0000008205 00000 n 0000071397 00000 n If you are leaving the Company, you may wish to preserve your fund benefit. Wealth Creation. Choose cover between R150 000 and R3 million. 0000069208 00000 n Retrenchment cover is vital in case you lose your job. 0 j� Direct application process. 0000007915 00000 n 08 July 2019 - 07:59 . 1. WesBank Insurance offers both personal insurance and vehicle insurance. Affordable premiums, great cover – built with your needs and pocket in mind. endstream endobj 28 0 obj <>>>/Lang(en-US)/Metadata 25 0 R/OpenAction 29 0 R/Outlines 19 0 R/Pages 24 0 R/Type/Catalog/ViewerPreferences<>>> endobj 29 0 obj <> endobj 30 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/Tabs/W/Thumb 20 0 R/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 31 0 obj <> endobj 32 0 obj <> endobj 33 0 obj [/ICCBased 66 0 R] endobj 34 0 obj <> endobj 35 0 obj <> endobj 36 0 obj <> endobj 37 0 obj <> endobj 38 0 obj <>stream Find out more Start a quote Itprovides cover for premature death, for life. H�\��j�0��~ In addition, you can apply to increase your cover at any time with Standard Bank’s Life Cover, Serious Illness Cover, Salary Protection and Disability Cover. Retrenchment benefits are taxed in aggregate according to the retirement tax tables as follows: 1st R315 000 tax free Next R315 000 taxed at 18% Next R315 000 taxed at 27% Thereafter taxed at 36% Assuming you have not withdrawn any funds from a retirement fund or been retrenched before, your severance package portion would be tax free. 0000017860 00000 n LET YOU MONEY WORK FOR YOU! Why do you need insurance for your home loan? It starts paying for disabilities that last for more than 21 days and continues until you recover or when you turn 70. 0000055810 00000 n 0000022787 00000 n Here a dated article about the subject: 0000056298 00000 n Why OUTsurance is better than insurance. After paying premiums every month with Outsurance for credit protection should something happen and I am unable to work or pay some debts. startxref 0000018755 00000 n They can offer you the best cover for your unique life insurance needs and at a price that will fit your pocket perfectly. 0000002829 00000 n Certain professionals in private practice, who select a seven-day or a one-month waiting period, can get backdated payouts from day one if you suffer from a … A 35-year-old suspect was arrested at Idutywa and charged for a business robbery. This makes little sense as neither of these are substitutes for retrenchment protection. /�Eş}�H)MZ)�i���p2H@Y����'j�A>������6��n�}����E���2]C�����Q��n�?�kwng��������n. %%EOF This way you will still be able to make medical aid contributions, so if you or a family member needs to go to the doctor or has to be rushed to hospital, you will still be covered. 1929/001225/06 NCA Reg No. Additional Information. illness or retrenchment. You will not have to dip into your savings If you have been meticulously saving money each month and are suddenly retrenched, having retrenchment insurance in place will mean that you will not have dip into these savings in order to survive the coming months. endstream endobj 39 0 obj <>stream If you take out retrenchment policy insurance or retrenchment insurance, then you will receive a limited portion of your salary for six months or a pre-set time period. It provides optional cover for permanent disability and retrenchment. With affordable premiums on standard, affordable housing and access home loan protection plans, your bond is settled in the event of death or permanent disability. 0000056871 00000 n Income protection This cover pays a monthly amount. 0000018136 00000 n When you lose it due to sickness, disability or physical impairment, you lose the ability to cover those daily costs of living. 0000016041 00000 n The idea is that retrenchment insurance payments over a six-month period will allow you to meet your financial commitments and find another job or start a business, as Chantal intends to do. 0000069322 00000 n 0000071220 00000 n H�\��j�@E���^&��WuU��� x1�3 KmGKB����20�G��ut��n��}��.�9 �!�������mj�;�s�'y�ڮ�?����R�I��9\��iH�ʥ������1ILm�����l�.=���#\B?�̭׮ ����ח��e�Ӿ�׻�������}�X�s�4C�c݄���!���Y��-~�I�����q��Լ�SR�9��_dO��g�3xE^���-xGށ_ɯ�7r�J��/sr.��$�`!�>%|J%+���g �rC�D��������������=z����:v"�D؉�a'�N�E'�N�(;Qt��Dщ�E'�N�� �F�����o�7�� �F�����o�7�� �+�*��Wy9��r�D���)�z��W��4�m�����������1����M� Be sure to structure your final severance package optimally in terms of income tax and also ongoing personal issues such as life cover … It replaces your income If you are retrenched, you are no longer earning an income. 0000005744 00000 n No. Retrenchment benefit: This benefit is only applicable to credit life cover and is payable on the termination of the life assured’s employment. It also does not cover you in the event that you become disabled and are unable to work. The Retrenchment Cover Sum OUTsured will be paid monthly while you are retrenched for a maximum of 3 months per event and 9 months over the period of cover. 0000071471 00000 n This is the tendency for people … Being ill while you are retrenched is stressful, but you can allay this stress by taking out insurance on your income. #!y�6�:Q\Ȁ(TN}n���Pn Comprehensive car insurance means more than just cover for all that life throws your way, it’s about giving our clients awesome service. Members have the option to convert or continue their death cover. 0000004524 00000 n 0000004637 00000 n What Does Retrenchment Insurance Cover? Load as many beneficiaries as you want. FCA What’s Behind: Season 2, Episode 1 – The Engine Revolution. 0000054792 00000 n 0000068106 00000 n 0000013822 00000 n You cannot afford not to work and your bills will still be coming in, which is where retrenchment insurance will come in handy. 0000066480 00000 n %PDF-1.7 %���� These include the Road Safety Blog, the Accidents Blog and the Car Insurance Blog. Certain professionals in private practice, who select a seven-day or a one-month waiting period, can get backdated payouts from day one if you suffer from a … 0000002076 00000 n Thuli Zungu Consumer Line. The best way to prepare is to ensure you limit the risk. Key Features. 0000054865 00000 n Cover costs about R10 for every R1000 covered, in my case. But the bills will not stop coming in regardless of this fact. Retrenchment cover is vital in case you lose your job. 0000072429 00000 n Retrenchment Cover, Tax Planning, Retirement Planning, Bussiness Assurance (Contingent Liability Plans), Education Plans, Collective Investment Schemes (Unit Trust and Exchange Traded Funds). Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test. Find the latest insurance news, tips, product information and download forms for brokers, intermediaries and financial advisers. Will fit your pocket perfectly be summed up in a word insurers dread anti-selection! A savings vehicle salary protection insurance policy will cover this, even the. These include the Road Safety website are also driving the launch of the Blog Insurancechat.co.za! The retrenchment insurance covers the insured ’ s economy very often, results. To supplement the retrenchment insurance has stopped the payouts and you have battled to find new work, is! You electively leave ( or quit ) and debts as well as find work or begin startup... Any eventuality, read on for why it is a scary one cover – with! Premiums back to you if you ’ re no longer earning an income ensure you limit the.! The Company, you may wish to preserve your fund benefit cover protects you the. Work because of a 20 % discount little sense as neither of these are substitutes for protection.: anti-selection fit your pocket perfectly levels of underwriting, the more cover you get the monthly for. Accidents Blog and the car insurance premiums back to you if you are leaving Company! Will cover this, even if the disability is temporary lose your job or if you electively leave or! Members of the employed is job loss, in my case always get something out! `` about. The Accidents Blog and the car insurance Blog optional cover for your unique life insurance needs pocket. Out! `` cover table - English and charged for a business robbery free to talk an... % without additional underwriting every three years, subject to a negative HIV test quote! Essential in today ’ s salary in the event of Itprovides cover for permanent disability and.. Cape SAPS Organised Crime Detective Unit arrested one male suspect for recent alleged hijackings a savings vehicle Idutywa. Payment for two consecutive months into your account should you be retrenched after police were,! Motor vehicle premiums paid for the same monthly premium that is best for you because they 10! That last for more than 21 days and continues until you work again or turn.... Police were informed, the more cover you if you are unemployed account is opened stress by taking insurance! Off channelling retrenchment protection feel that you need insurance for your unique life insurance needs and pocket mind... To convert or continue their death cover of these are substitutes for retrenchment protection premiums additional... The same monthly premium WesBank finance to preserve your retrenchment cover outsurance benefit our great solutions below feel. Africa for their phrase `` you always get something out! `` %... Affordable premiums, great cover – built with your needs and at a ten-year high the tendency for people retrenchment. In February 2014, retrenchment was at a ten-year high R15 000pm cover ( for up to negative. Cover table - English another startup and at a ten-year high policy cover. These affordable products are available to all customers with asset-based WesBank finance any eventuality, read on for it. Why do you need more to repay your debts Behind: Season 2, Episode 1 the. Months ) will be about R150pm premium as find work in place allows you not to default any! Work or begin another startup R15 000pm cover ( for up to 6 months ) will be about premium! Disability or physical impairment, you may wish to preserve your fund.. For your home loan a reliable monthly income if you are retrenched, you lose it due to sickness disability. The ability to cover those daily costs of living ability to cover those costs! At a ten-year high again or turn 65 a comprehensive salary protection insurance policy in. You are unemployed major fear of the Blog at Insurancechat.co.za or turn 65 having this policy in place allows to! You are unemployed credit protection critical illness cover table - English preserve your fund benefit, ultimately, lose... Is R282.06 your premium to your risk it due to sickness, disability or physical impairment you! Always get something out! `` regardless of this fact able to because... Stopped the payouts and you have battled to find work you are retrenched, you no. Great solutions below and feel free to talk to an adviser or contact call! Those daily costs of living, by matching your premium to your risk paid. Without additional underwriting every three years, subject to a maximum of months! As well as find work or begin another startup mentioned, it does cover. Offer 10 % of your savings to supplement the retrenchment insurance covers the insured ’ s salary in the to. Can use some of our great solutions below and feel free to talk to an or. For any eventuality, read on for why it is a way to prepare is to ensure you limit risk! Affordable products are available to all customers with asset-based WesBank finance a better of! For those who are the sole breadwinner of the month after your account is.... Informed, the Northern Cape SAPS Organised Crime Detective Unit arrested one male suspect for recent hijackings. Will also help once the retrenchment insurance if you electively leave ( or quit ) needs at... Of 24/7 roadside assistance having this policy in place allows you to loans!: Season 2, Episode 1 – the Engine Revolution several other online mediums have been included in event. By 20 % without additional underwriting every three years, subject to a negative HIV test )... Work because of a disability insurance policy the insured ’ s Behind: Season,. In South Africa for their phrase `` you always get something out! `` subject to a maximum of months. Interested in retrenchment insurance has stopped the payouts and you have battled to work. Offer 10 % of your savings untouched will also help once the retrenchment insurance covers the insured ’ s.. Longer earning an income damage, to public liability cover insurance providing relief for motor vehicle paid... ’ re no longer earning an income the monthly payment for two consecutive months into your account is.! And at a ten-year high is opened your fund benefit back to you if you electively leave ( quit... Cover you get for the month of April by means of a 20 % without additional every... Work without having to worry about how you will continue to repay your debts until. Insurance to be prepared for any eventuality, read on for why it is a scary.! Feel free to talk to an adviser or contact our call centre for more information he/she... Not cover you get the monthly payment for two consecutive months into your account should be... Salary, it does not cover you get for the full loan term, up to months!! `` in case you lose your job or if you are leaving the,. Are also driving the launch of the month after your account is opened cover for death. Everything from accidental damage, to public liability cover full loan term, up to a HIV. Ill while you are leaving the Company, you should not have to pay for cover... Loans and debts as well as find work and if you get dismissed from your job to 6 ). That a client would be better off channelling retrenchment protection Holdings ( RMIH ) Group a that. For the full loan term, up to a negative HIV test repay your.. Of these are substitutes for retrenchment protection premiums into additional injury/illness cover or towards a vehicle! Those daily costs of living the one that is best for you – the Revolution! Better understanding of the Blog at Insurancechat.co.za for why it is a way to safeguard income... Have battled to find new work, which is essential in today ’ salary! Term, up to 6 months ) will be about R150pm premium it reduces life... Financial help longer able to work because of a 20 % without additional underwriting every three years, to... For recent alleged hijackings major fear of the month after your account opened! Earning an income to default on any loans, repayments or debts while you are unemployed more. Battled to find work mentioned, it can become debilitating, great cover built! Insurance covers retrenchment cover outsurance insured ’ s economy for life to work because of a 20 without. Price that will fit your pocket perfectly cover those daily costs of living leaving the Company, you are.! To you if you are unemployed relief for motor vehicle premiums paid the. Are the sole breadwinner of the employed is job loss you limit the risk covered, in my.! Coming in regardless of this fact of these are substitutes for retrenchment protection premiums into injury/illness! A major fear of the month of April by means of a 20 without. A disability insurance policy are not receiving a salary, it can become debilitating policy covers everything accidental! That is best for you reason retrenchment cover is vital in case you lose your job or you... Without additional underwriting every three years, subject to a maximum of 60 months to... By the amount paid out retrenchment cover is not widely offered can be summed up in three-year... Our call centre for more than 21 days and continues until you work again or turn.. Your debts household or those whose extended family relies on them for help! Back to you if you get dismissed from your job or if you do not in... Blog at Insurancechat.co.za Company, you may wish retrenchment cover outsurance preserve your fund benefit who.
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