DebtSafe Blog

Credit Linked Insurance

DebtSafe has recently launched OneWay, the first all-in-one debt solution product in South Africa. The OneWay solution has unique features and benefits of which the Credit Linked Insurance (CLI) availability is one of its most outstanding advantages offered to our clients.

DebtSafe has partnered with ONE SURE, one of the most reputable and trusted underwriters in the market. The major factor in the partnership is the fact that this specific CLI option is the most affordable in the industry. Compared to other credit linked insurance options available, we can establish a 60% saving on many of the accounts we service.

None of us want to leave our debt to our loved ones when we pass away. Neither do we want to sit with a mountain of debt should you be disabled. The CLI even covers your debt when you are retrenched. The monthly instalments are embedded in the debt repayments at affordable amounts.

What makes this CLI option unique?

The CLI was built specifically to suit the needs of the DebtSafe OneWay client. It is not only cheaper, but no other product will pay your debt for up to nine months should you get retrenched during the DebtSafe Oneway process. It replaces the CLI issued by credit providers.

A unique benefit is the fact that all financial obligations can be insured. This includes outstanding medical accounts, school fees and even maintenance orders.

Debt is combined under one policy, and this means the debt review client doesn’t have to deal with up to ten call centres when a claim needs to be logged. Everything happens in one place… easy and simple.

The most valuable benefit of partnering with ONE SURE is that everything is included in the DebtSafe OneWay solution – this means that expensive insurance is replaced. No additional insurance or plans to take out and no forking out additional cash to cover the premiums.

“ONE SURE only partners with reputable companies and DebtSafe’s OneWay debt solution is in line with our criteria,” says Christopher Keuler, Divisional Manager at ONE SURE.

He says the fact that the debt review client’s policy doesn’t get cancelled if a few payments are missed is one of the CLI offering’s most beneficial factors.

A game changer

The CLI option eliminates confusion as to whether a client’s existing cover is still in place, given the fact that their accounts are in arrears. The consumer takes over the control of his insurance, as there is total transparency. The nine months’ retrenchment benefit is a winner.

“We are a Mutual & Federal partner; an AAA+ rated company; and one of the oldest insurers in the country. Our system automatically sends cancellation and replacement certificates to all the credit providers and our cover has been accepted by most credit providers bar a few who apply “bullying tactics” to protect their own interests,” says Keuler.

“Our vision is to provide consumers with a product that is suited to their personal needs; not just from a pricing and benefit point of view, but total transparency. A consumer’s right of choice is the ultimate goal,” he concludes.

To make a claim, or just to get more information, click here.