Traditionally adrenaline junkies are considered too high an insurance risk to be covered and are therefore rejected after risk analysis. Absa Life @Ease Priding themselves on providing a single, comprehensive insurance policy which covers all your needs and is easy to understand, Absa’s Life @Ease includes a death benefit, accidental death benefit, functional impairment, physical impairment, critical illness benefit, and a range of others, most notable a final expenses benefit, catch all disability benefit and income … a death benefit and total and permanent disability. The requested site will open in a new window. It's a moneyback policy, so there is an amount of money due to me. Life Cover. Get cover for items such as furniture, clothing, appliances, electronics, jewellery and any other items you wish to cover. Absa Life is offering qualifying Absa Bank clients life assurance without the inconvenience of filling in a lengthy questionnaire or going for a medical check-up. Have I been charged for the Enhanced Retrenchment Benefit? Need a quote for cancer cover? Anyone between the ages of 20 and 65 can apply. If your profile defaults to Express Banking, select “Full Service” in the top right to go to Absa Online, On the Account tab select the desired credit product. Report of the ABSA Life Statutory Actuary Cancer Cover Cancer Cover provides cash in the event of a diagnosis of cancer requiring major intervention and treatment. You can choose to cover a spouse, children and extended family members (max 16 lives) Policy will pay the lump sum if you or any member you have insured dies during the period of cover ABSA Credit Life Insurance will Cover your Debts when you're Gone. Your last three months’ bank statements or latest payslip or IRP5 or employment contract, A formal letter from your employer stating the effective date from which you are unable to earn an income. Provides cash in the event of death from an accident. You can mix and match. You may no longer claim under the Enhanced Retrenchment Benefit of your Credit Protection Policy if you are unable to earn an income. The policy pays out the amount within 48 hours after the death. Absa Life will now also pay the minimum instalment on your credit agreement for three months if you become unable to earn an income between 27 March and 31 December 2020 and have a valid claim. These products are available to you whether or not you an Absa banking customer. You may not claim if you are unable to earn an income because of the expiry of a fixed-term contract or the completion of the job that you were specifically employed to do. You have the option to be paid a lump sum if you are diagnosed with a life-threatening condition. That is money in your pocket. Optional annual benefit increase of 5% to help keep pace with inflation. Accidental Death Cover. No, you cannot. If you are a contract worker and your fixed-term contract has not come to an end, you can submit a claim. It covers the immediate expenses of the policyholder’s funeral, such as catering costs, burial, coffin and transport. In this example we're selecting a Credit Card Account, On the far right select the “Insurance” tab. It is a division of Absa Bank Kenya which is a subsidiary of South Africa-based Absa Group Limited. Contract work, unpaid leave and temporary absence from work are also covered. No, you have not. It will apply automatically if you miss one or two payments. Your spouse can continue to maintain the policy in the event of your death. Having large surpluses of capital has enabled Absa (and other banks) to fund a long-term insurance division not only to provide the basic life, dread disease and disability cover, but also a special extreme living insurance policy. The final expenses benefit is essentially a funeral plan. Have a look through your bank or credit agreement statements to see if there are premium deductions for Credit Protection insurance. Absa Life has emerged as a leader in the latest South African Customer Satisfaction Index (SA-csi) for Life Insurance (2019). You can apply for both the payment relief on your credit agreement and submit a claim on your Credit Protection Policy. All rights reserved | Authorised Financial Services Provider and a registered credit provider (NCRCP7), Find it in your Gold or Premium Value Bundles. If self-employed: your business’s last three months’ bank statements and proof of business registration. Access Insurance Online Cover is to age 65. It does not matter if it is the direct or indirect result of the COVID-19, or if you are unable to earn an income for other reasons. Absa is a life insurance provider that caters to your loved one's financial need by providing for them when you no longer can. Convenient Life Cover A semi-underwritten Life Cover product that pays cash in the event of death from both natural and accidental causes. Please note that the content on this page is for informative purposes only. Self-quarantine as a precautionary measure is not. In life, we often feel like we have everything in control. We will pay all valid claims on Absa Cash Plans (previously known as Absa Hospital Cash Plans) for hospital stays that are longer than a day, including  hospitalisation due to COVID-19. It was established in 2008 to address a growing market for pure-risk life … Our enanced life protection and education policies will keep your family’s future covered. Optional annual benefit increase of 5% to help keep pace with inflation. They told me it would be settled within 7-10 working days. Can I claim under my Credit Protection Policy’s Retrenchment Benefit? To claim, email creditlifeclaims@absa.co.za before 31 January 2021, and be sure to submit the following documents: All policies where premiums are paid via debit order qualify for this relief. During this period, our customers who become unable to earn an income may be able to submit a claim on their Credit Protection Plan. While the functional impairment covers only total disability and physical impairments covers only corporeal damage (such as the loss of a limb or ability to walk), the “catch all” disability benefit covers both total and partial disability. A formal letter from your employer stating the effective date from which you were unable to earn an income. Can I claim if my income has been reduced? Get cover in your corner with our life insurance We all have dreams for our and our families’ future and a sudden change doesn’t have to change everything. I am unable to earn an income. If you are struggling to pay the monthly premiums on your funeral, life, disability, critical illness or hospitalisation products, you may get premium payment relief for two additional months and still keep your cover. We also want to assure you that COVID-19 is not an exclusion on any of our life policies, so you are covered for COVID-19-related claims. In response to the COVID-19 pandemic we have already provided our customers with a payment relief plan for their credit products. You are about to leave the Absa website. If you have a valid claim under the Enhanced Retrenchment Benefit, Absa Life will pay the minimum instalment on your credit agreement for three months. For a full list of Life @Ease benefits, visit the Absa website. We recommend that you read the privacy policies and terms of the other website. Absa Life will now also pay the minimum instalment on your credit agreement for three months if you become unable to earn an income between 27 March and 31 December 2020 and have a valid claim. If you also have a Credit Protection Plan and are unable to earn an income or are retrenched, you may be able to claim for the minimum instalment on your credit agreement, pay down your loan and pay less interest. For example, if you are permanently employed and are not receiving an income, or if you are forced to take unpaid leave indefinitely, or if you are unable to earn an income because you are unable to fulfil your duties, you can submit a claim. The ABSA Instant Life Cover offer 30% less in premiums to it affordable to ABSA clients. The option is available to those who want to buy a new life policy or add to an existing one. The missed premiums will be recovered from any future claim, surrender value, maturity value or cash-back payment. Alternatively, for some products, you can view your policy details online or on the Banking App. To get an Absa life quote please complete and submit the form on this page. ABSA is one of the banks that offer funeral cover in South Africa.Through ABSA Insurance, the bank offers a comprehensive suite of funeral insurance products suitable for many South Africans, and possibly including you and the rest of your extended family. You may claim if you are unable to earn an income. Your last three months’ bank statements, latest payslip, IRP5 or employment contract; A formal letter from your employer stating the effective date from which you are unable to earn an income; and. We will send you an SMS to confirm the relief. Provides cash in the event that you become disabled and can no longer work. Below is the information on the ABSA Bank Life Cover. Entry age 20 to 59. You may only claim if you are unable to earn an income for at least 30 days from any work, occupation, job or business for any reason other than disability. If you can claim, you should. However, if you qualify for the Standard Retrenchment Benefit, it will be more beneficial to claim under this benefit as it is more comprehensive than the Enhanced Retrenchment Benefit. Priding themselves on providing a single, comprehensive insurance policy which covers all your needs and is easy to understand, Absa’s Life @Ease includes a death benefit, accidental death benefit, functional impairment, physical impairment, critical illness benefit, and a range of others, most notable a final expenses benefit, catch all disability benefit and income protection. Will premiums for which the premium payment relief was applied, be recovered? * While Insurance.co.za does not have any affiliation with the company mentioned on this page, we’ll send you comparative quotes from our partner brands (listed here). These include funeral, life, disability, critical illness and hospitalisation products. Cover for your specific business requirements, For information about the SARS-CoV-2 virus and the disease it causes, plus statistics on its spread in SA and related government press releases go to https://sacoronavirus.co.za/, I can sleep soundly now, knowing that my family will be taken care of when I'm not around anymore. The transaction will give Absa a 75% stake in the business. The requested site will open in a new window. This … What if something were to happen to you, who would take care of the financial aspects of the life you are living, who would cover outstanding debts, how will your family survive … 20% Cash Back every 10 years. Ordinarily, you would only be able to claim if you had been retrenched due to the operational requirements of your employer and had been employed full-time. She then indicated that it will be forwarded to the underwriters and will get back to me. Life Cover. Our customers that have either a Gold or Premium Value Bundle Account will be able to use their Retrenchment or Disability Cover to further improve their financial resilience. If you subsequently have a valid claim on the Retrenchment Benefit in line with your policy’s terms and conditions, the maximum benefit payment of that policy will be reduced by the three instalments paid under the Enhanced Retrenchment Benefit. What you get. Critical Illness Absa Life offers funeral cover and Absa from Absa Funeral Cover. Services – Absa. Among these facilities, you will discover you have the option to select the area of coverage you need. How much will you pay if I have a valid claim? ABSA IDirect household contents and portable possessions insurance. As long as you become unable to earn an income from 27 March 2020 to 31 December 2020. The ABSA InstantLife cancer cover product has the following benefits: Up to R3 million cover with no medical exams required. The life … In fact, all our services are so simple to apply for, our clients are continuously commenting on how simple our solutions are. Your last three months’ bank statements, latest payslip, IRP5 or employment contract. Cover for retrenc hment and dread disease benefits ceases at age 60. Income protection is a great addition to a disability insurance policy. If self-employed, your business’s last three months’ bank statements and proof of business registration. Log in to internet banking. Each ABSA Life Insurance Policy Explained. Can policyholders opt out of the premium payment relief? This includes insurance for your life, possessions, vehicle, health and also gap coverage. It is automatically applied for up to two missed premiums during the relief period. To claim, contact Absa Life on 0860 227 253 or creditlifeclaims@absa.co.za and submit the following documents before 31 January 2021. COVID-19 and possible complications are covered. I wasted about 20 minutes of my time divulging all my personal details to her. Absa Life Cover offers you digital solutions to help you get a quote, buy and amend your Life cover policy. Absa Life Assurance, formerly Barclays Life Assurance, is one of the 56 licensed insurance companies in Kenya by the Insurance Regulatory Authority. However, during these extraordinary times, we have enhanced our Retrenchment Benefit to include the inability to earn an income and cover customers who are part-time employed, self-employed, contract workers or employed in a family-owned business. What you can expect. We use cookies to optimise the user experience. * Your details will be sent to one of the brands that we have partnered with, as can be seen on this page. So we pass our substantial cost savings on to you through low monthly payments and a unique cash back benefit. ABSA IDirect life insurance Pays out in the event of death from both natural and accidental causes. If you were unable to earn an income from 27 March 2020 to 31 December 2020, you may submit a claim for the benefit until 31 January 2021. Extreme, right? Contract work, unpaid leave and temporary absence from work are also covered. Mr Hamusonde said since 2012, Absa Life Zambia had provided cover to over 300,000 lives under various insurance products. The results of the annual research, which is … The client can cover whatever he or she wants to. You have the option for the policy to refund you 120% of your premiums after 15 years. … Work Disability. Poor and pathetic service by the consultant from Absa instant life. FitLife Cover Do policyholders have to opt in to receive the premium payment relief? The relief will apply to all debit orders from 27 March 2020. The terms and conditions of your Credit Protection Policy, and any subsequent amendments thereto, will continue to apply. My life insurance provider that caters to your loved ones can be seen.! 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