08 July 2019 - 07:59 . SURANCE Your OUTsurance … This is because they offer 10% of your car insurance premiums back to you if you do not claim in a three-year period. Receive retrospective payout. 0000004637 00000 n Retrenchment insurance covers the insured’s salary in the event that he or she gets retrenched. This lump sum only pays out once. 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. It replaces your income If you are retrenched, you are no longer earning an income. • 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. Income protection This cover pays a monthly amount. 0000067285 00000 n Retrenchment cover is not a comprehensive salary protection insurance policy. 0000073577 00000 n Affordable premiums, great cover – built with your needs and pocket in mind. 0000002829 00000 n Credit ombud Nicky Lala-Mohan. 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. #!y�6�:Q\Ȁ(TN}n���Pn 0000018755 00000 n 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. Several other online mediums have been included in the drive to create a better understanding of the need for safety. We offer retrenchment insurance and for us to assess whether this client qualifi es for cover, we need your help … No. 27 89 The Developers of the Arrive Alive Road Safety website are also driving the launch of the Blog at Insurancechat.co.za. 0000022787 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. 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. Sanlam Indie Income Protection provides you with a reliable monthly income if you’re no longer able to work because of a disability. 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. Your income is essential to many things. 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. 0000009489 00000 n This makes little sense as neither of these are substitutes for retrenchment protection. Choose cover between R150 000 and R3 million. 0000073262 00000 n Youi is an insurance product provided and underwritten by OUTsurance Insurance Company Limited and OUTsurance Life Insurance Company Limited, authorised financial services providers (896). ;r;$�W� � ��1z� ��J(D�o�^Bߦ)��A�v(Kǥ0lA`�w��;/��'"�y�ֱ�y��k��B�.:�c����"v. a�4�(�����H�q4X�$?��\���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����� ���� No extensive physical medical examinations. FCA What’s Behind: Season 2, Episode 1 – The Engine Revolution. 0000056121 00000 n 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. Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test. 0000004378 00000 n retrenchment cover. If you are leaving the Company, you may wish to preserve your fund benefit. 0000016041 00000 n V�ݹ�UvG 0000070908 00000 n 0000067659 00000 n It starts paying for disabilities that last for more than 21 days and continues until you recover or when you turn 70. 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 0000010108 00000 n Discussion & Guide to Finding the Best Insurance. It also does not cover you in the event that you become disabled and are unable to work. 0000051924 00000 n The cover protects you for the full loan term, up to a maximum of 60 months. Called Outsurance to assist and see process forward for the credit protection to be activated I get told I do n Find the latest insurance news, tips, product information and download forms for brokers, intermediaries and financial advisers. Key Features. 0000069208 00000 n �d����fK����,�,�0�9���~@iO�d�X�3�Xa_]2��� ��R4;p�sD[a~�0�]��T�w��NuyJ�݇�,l�=� d }]��oD� 0000072429 00000 n 0000010191 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. Wealth Creation. 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. /�Eş}�H)MZ)�i���p2H@Y����'j�A>������6��n�}����E���2]C�����Q��n�?�kwng��������n. Being prepared is the responsible thing to do. 0000056371 00000 n < A disability insurance policy will cover this, even if the disability is temporary. 0000057150 00000 n 0000009193 00000 n Download the credit protection critical illness cover table - English. 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. H�\��n�0��~ 27 0 obj <> endobj A 35-year-old suspect was arrested at Idutywa and charged for a business robbery. 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 … 0000004900 00000 n Retrenchment cover is vital in case you lose your job. Call 0860 333 111 View Terms & Conditions. Receive retrospective payout. Credit ombud Nicky Lala-Mohan. 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. 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 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. If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. NCRCP20, has entered into an intermediary agreement with FNB Life, a The amount depends on whether your account type is a Gold Value Bundle (R2 500 … If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. 0000071471 00000 n 0000068106 00000 n We’ll do everything we can to make sure that your experience with OUTsurance is quick and efficient from taking out cover to settling claims. 0000054895 00000 n 0000002076 00000 n 0000067805 00000 n OUTbonus paid in cash. *�@�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 0000069395 00000 n But, ultimately, you should not have to use these savings at all. 0000072355 00000 n Retrenchment Cover is only for Retrenchment. 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