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[Accessed February 7, 2023]
Nedbank is known to many as a leading financial institution in South Africa.
When it comes to insurance, Nedbank understands the importance of taking care of the things that one works hard to have in life. With Nedbank’s range of insurance products available, there are endless options to secure assets, even when things get tough. Nedbank offers insurance solutions for long-term, short-term, credit protection including home, credit, car, funeral, business and travel insurance needs. With an income protection plan, one is covered for all expenses that relate to the functioning of one’s daily life, in order to make sure that monthly repayments are covered, should anything happen such as retrenchment or disability.
Income protection plan
Get income protection insurance with Nedbank for unforeseen circumstances when your life changes but the financial obligations remain the same.
Nedbank’s income protection insurance covers categories of:
- Car Finance Insurance
- Credit Card Insurance
- Personal Loan Insurance
Income protection insurance for vehicles
A car is a vital component of one’s day when it comes to getting around and getting things done. Without being able to drop the kids off at school or attend that job interview, stress levels can get one down. What is an even more stressful situation, is that of not being able to afford the monthly repayment on a car.
With Nedbank income protection insurance, car insurance will ensure that all monthly repayments are covered in the case of death, retrenchment, disability or diagnosis of a dread disease, resulting in no ability to earn an income. Furthermore, with income protection insurance for vehicles, there is the benefit that one could get up to R1 million to assist in paying off the outstanding vehicle finance if anything should happen to the insured member.
There are times when everyone needs a little extra help, which makes having a credit card a real advantage.
What would be a disadvantage, is not being able to afford the monthly instalments on said credit card, placing the financial burden on family members. With Nedbank income protection insurance for credit cards, the cover will be offered by ensuring that all monthly repayments will be paid in the event of death, retrenchment, disability, or diagnosis of a dread disease, where one is unable to repay the outstanding balance of the credit card.
Benefits of income protection insurance
- Nedbank will ensure that all credit card debt is taken care of, in order to avoid added stress and financial responsibility for any family members.
- The application process is quick and easy.
- No medical tests are required when applying.
- There are multiple cover options to select from.
Income protection insurance for bonds
There are different dynamics in every family and household, which at times can mean that one person is solely responsible for the monthly repayment of a bond/home loan. Without this monthly repayment, the result would mean the loss of a home. Nedbank income protection insurance for bonds will ensure that the home loan instalments are paid should one not be able to do so themselves.
Benefits of income protection insurance for bonds include:
- In the case of death, the home loan balance will be covered up to R2 million.
- Insured members will get up to three months of free accidental death cover, before the transfer of the property is finalised.
Nedbank – Income Protection Insurance
- Product Income Protection Insurance
They have income protection cover that pays out immediately when you claim for disability, they understand that you need to live a comfortable life so they don't let you wait for the money you need to survive with your disability.
Benefits of Nedbank
- Full-service banking - Nedbank offers you a wide variety of insurance products as well as comprehensive banking solutions. These products are all backed up by well-trained staff that have the knowledge to understand exactly what you need.
- They mean business - They offer business owners personalised insurance premiums on anything they need to be covered from assets to employee benefits.
Get Income protection now
Similar to that of a credit card, an overdraft facility can accommodate times when cash flow is problematic.
The facility of an overdraft, however, must be used responsibly and paid back in full. In times when one cannot meet these demands and placing the burden on family members is something that one wants to avoid, Nedbank income protection insurance for overdrafts will take care of any debt.
Benefits of income protection insurance for overdrafts include:
- In the case of death or becoming permanently disabled, the full insured overdraft amount will be paid out, whether the overdraft facility has been used or not.
- In the case, that one becomes temporarily disabled, up to six monthly instalments will be paid into the insured member's account.
- In the case that one is retrenched, up to 10% of one’s outstanding overdraft balance will be paid. This is limited to R30 000.
- Anyone between the ages of 18 and 64 can get overdraft insurance.
Income protection insurance for personal loans
With Nedbank income protection insurance for personal loans, help will be provided in the case of death, retrenchment or disability when one cannot pay back the income protection of a personal loan.
Benefits offered with Income Protection Insurance for a personal loan include:
- In the event of death, an amount of up to R300 000 will be paid to help cover the personal loan.
- If one becomes disabled and no longer has the ability to earn an income, monthly instalments will be covered.
- In the event that one is retrenched, up to 12 monthly instalments will be covered.
Income protection insurance claims
To submit a claim, one can visit nedbank.co.za and complete an insurance claim by selecting “Submit claim” and completing the necessary fields of information. Alternatively, one can make use of the convenient on-the-go option by submitting claims via the Nedbank App which can be downloaded from Google Play Store, or call 0860 333 111.
Get Income protection insurance
To get Nedbank income protection insurance, one can visit nedbank.co.za and select “Quote me”. From here, one can complete the necessary fields of information and await a call back from a Nedbank agent who will guide one through the quote and application process to get Nedbank Income Protection Insurance.
Customer Reviews & Testimonials
Nedbank gives you the best cover and the most benefits when it comes to income protection cover.
— Tembisa —
Nedbank is an unbeatable name when it comes to insurance premiums they have great specials and best benefits with friendly and efficient staff.
— Stellenbosch —
I bank with Nedbank and only Nedbank they make your life easier and convenient with coverage for any and everything.
— Centurion —