Life

At InsuranceBusters we offer our clients life and credit life insurance, for more information and a better understanding of both, read on:

What is life insurance?

Life insurance is protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.

Which life insurance products does InsuranceBusters offer?

Retirement Planning

There are many different ways to help an individual plan for retirement. These may sometimes require a financial instrument like unit trust retirement annuities, but many other investment options are available. These are tailored to your risk profile and personal preferences.

Investments

This area has certain common denominators with your retirement planning. The difference is the differentiation between your short, medium and long term goals, wants and needs.

Risk Cover

We have contracts with various risk companies and can cover your requirements for disability cover, income protection and life cover including buy and sell agreements. We are committed to being competitive in this market to ensure you pay as little as possible for the best cover available. The fact that we do not charge commission usually has a very positive impact on the premiums for these products, and therefore long-term benefits on your budgetary planning

Budgeting

Preparing, revising and keeping to a budget is something that most people applaud and few people accomplish. We provide assistance in this process as it is the foundation of the financial planning process.

Read more

What is credit life?

Credit life is a FSB approved insurance product designed specifically for Debtbusters (our partner company). It protects agreed commitments made in the debt review plan against unforseen events

The product pays benefits in the event of

• Death
• Disability
• Retrenchment (not for self employed clients)
• Hospitalisation (for self employed clients only)

Why should you take out credit life insurance?

• It will offer you the peace of mind that should anything happen to you, your debt obligations will be taken care of
• Previously we were all underinsured where credit is concerned
• Traditional insurance covers death and disability benefits only - and are not concerned with events that hinder regular payment agreements

What are the benefits of credit life insurance?

• Benefit based on original debt recorded in the agreement (up to a maximum of R750,000)
• Fixed benefits:
  • Death = 100% of original debt recorded in agreement
  • Temp Disability = 2% of original debt max 12 payments
  • Retrenchment = 2% of original debt max 3 payments
  • Hospitalisation = 2% of original for max 3 payments
• Offered to customer as an integral part of debt review plan
• Death Benefit:
  • Benefit = total debt amount under review / agreement (up to R750,000)
  • Benefit reduces by 10% p.a at each anniversary
• Disability - in the event that the client is unable to work:
  • 2% of original debt paid after 30 days
  • Benefits continue for 12 months or until client resumes work
  • Can make more than one claim on policy
• Retrenchment - in the event that the client is retrenched (not for self employed clients):
  • 2% of original debt paid after 30 days
  • Benefits continue for 3 months
  • Can make more than one claim on policy
• Hospitalisation - provided for self employed clients only:
  • 2% of original debt paid after 14 days continuous hospitalisation
  • Second benefit of 2% paid after 28 days continuous hospitalisation
  • Third benefit of 2% paid after further 30 days continuous hospitalisation
  • Can make more than one claim on policy

Get the best out of insurance today - with InsuranceBusters!