One of the key ways in which financial services institutions have come to the aid of South Africans facing financial challenges, has been to encourage those with valid credit insurance policies to claim their benefits. This means that their monthly debt repayments could be covered by their policy for a period of up to 12 months, depending on the circumstances.
Unfortunately, no two credit insurance agreements are the same, and the type and level of cover available to customers differs from one credit product to another. This fact has created a lot of confusion amongst credit insurance holders, many of whom are becoming frustrated when trying to claim against their policies, only to find that they are not able to do so, or that their cover amount is not what they had hoped it would be. As is always the case with any financial product, when it comes to credit insurance, knowledge is power; so, whether you are thinking of claiming against this type of policy now, or you’re considering taking out insurance on future credit agreements, it’s worth arming yourself with the correct information first.
To start with, it’s useful to understand that the name “Credit Insurance” is a catch-all phrase that is used to describe any type of insurance cover on a credit arrangement. These arrangements can range from unsecured credit like a personal loan, credit card, overdraft, or store card, to secured credit like a home loan or vehicle finance agreement.
この記事は Your Business の June/July 2020 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Your Business の June/July 2020 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
61% of South African SMMEs Planning For Growth
Mastercard SME Index
Selecting A Collections Partner
Key considerations and insights...
Recipe For Success
Key ingredients for a successful partnership between e-tailers and their software developers.
Our Success. Your Success.
The need for business training to improve bottom-line results in businesses across the country has never been greater.
How Small Businesses Improve Revenues In Tough Times
While many small businesses were able to adapt to lockdown in the short term, new challenges emerged when it came to returning to physical workplaces. Modern workforces, for example, are fragmented, while exposures, health and safety concerns frequently disrupt operations. How do we cope with these and many other related difficulties?
Making An Impact
Every year in August we take the time to celebrate women and reflect on the tremendous efforts they make to shape our society.
The Hidden Value Of Outsourced IT Resources
The IT needs of today's businesses are constantly evolving, making outsourcing a very attractive option that can offer a number of compelling benefits for businesses, small or large.
Networking At Virtual Events
Just because you can't shake hands and pass around business cards, doesn't mean you can't network at a digital event.
7 Questions To Ask A Prospective Digital Media Partner
If you are looking to outsource your digital marketing function to an agency, here are some question to ask before signing on the dotted line.
Riches And Beyond
Empowering the next generation of entrepreneurs