A: When entering Debt Review, and any credit agreement, it is important to make sure you have sufficient debt cover. This is called Credit Linked or Credit Life Insurance.
Depending on what Credit Linked/Life Insurance you have there should be some form of protection for your debt in the event of retrenchment.
With DebtSafe’s Income Rescue Plan your monthly debt repayments will be covered for a period of 12 months when you get retrenched. Over and above the retrenchment cover the Income Rescue plan also offers Temporary and Permanent Disability cover; cover in the case of death, ID theft and cover when on maternity leave.
Please speak to your Relationship Manager about the benefits of the DebtSafe Income Rescue Plan as well as the process on how to log a claim.