CUSTOMER PROTECTION PLAN

What it's about:

Credit Life covers you and your family in the event of your death, permanent disability, temporary disability, retrenchment, or diagnosis of a dread disease. (The following are defined as dread diseases: heart attack; stroke; coronary artery surgery; cancer; kidney failure; organ transplant; paraplegia; coma; serious burns, replacement of heart valve, renal failure; and blindness.)

How you will benefit:

In the event of:

Why this product:


HEALTH CREDIT POLICY

What it's about:

The Credit Health Policy ensures that in the event of your death or permanent disability, the full outstanding amount on your finance agreement will be settled automatically.

How you will benefit:

In the event of your:

You can take advantage of a cash-back benefit: in exchange for your completion of a short health and lifestyle questionnaire, at the end of the policy term the policy will give back, in cash, 10% of the premiums you paid.

Why this product:

You will be able to rest assured that your family won't be left struggling with debt they can't pay in the event of your death or permanent disability. The Credit Health Policy's death benefit is valid up to the age of 65, while the permanent disability benefit is valid up to the age of 60.

RETRENCHMENT POLICY

What it's about:

This product has been designed with the current economic climate in mind. It will minimise loss to you and your financial institution if you are involuntarily retrenched on up to two occasions.

How you will benefit:

While you are retrenched, the policy will pay your full instalments (including insurance premiums, but specifically excluding arrear interest and arrears). The maximum time period over which you will be covered is 9 months.

Why this product:

In our current struggling market economy, the chance of being retrenched and left with no funds to pay your debt is unfortunately high.

COMPREHENSIVE INSURANCE

What it's about:

Any asset you acquire under a credit agreement has to be insured so that you and WesBank are protected in the event of damage or total loss. We can quickly source 7 competitive quotes for you from South Africa's leading insurers.

How you will benefit:

Your cover is arranged over the phone - no paperwork!

Why this product:

We arrange ideal comprehensive insurance instantly and with no fuss.

COVERPLUS

What it's about:

If your vehicle is written-off or stolen, you may find that the money your insurer pays out is not enough to cover what you still owe your finance house. The CoverPlus policy pays the shortfall for you.

How you will benefit:

Not only does this product protect your wallet - it extends to cover your vehicle if it gets minor scratches and dents. (This usually falls within the underlying policy excess). What's more, if, unintentionally, you don't comply with the underlying insurance policy conditions and the insurer repudiates your claim, CoverPlus will kick in. On top of this, the excess which is payable by you to your underlying insurer will be covered up to a maximum of R6,000.00

Why this product:

You will experience great relief knowing you won't be short of the money you owe your finance house if your vehicle is written-off or stolen.

RETURN TO INVOICE

What it's about:

The Return to Invoice Policy protects you from the effect of vehicle depreciation. If your vehicle is stolen or written-off, the policy kicks in and covers the difference between the original purchase price you paid and the insured value of your vehicle.

How you will benefit:

If your vehicle is written-off or stolen during the period of insurance, the policy will cover the difference between the original purchase price (this is the price shown on the purchase agreement/invoice) and the insured value of the vehicle, excluding any amount refundable. (Examples of refundable amounts include, but are not limited to, Credit Life or motor warranty premiums.) The maximum limit is R500,000.00.

Why this product:

New vehicles depreciate by up to 25% in their first year. In their second and third year depreciation is around 12%. That's depreciation of nearly 50% of your vehicle's value in years 1, 2 and 3. The Return to Invoice Policy protects you from significant financial loss.

DEPOSIT PROTECTOR

What it's about:

The Deposit Protector Policy protects the value of the deposit you paid, in the event of total loss.

How you will benefit:

Where your vehicle is written-off or stolen, this policy covers the original deposit that was paid, up to a maximum of R500,000.00.

Why this product:

An insurance payout is often not enough to cover the deposit that you originally put down on your credit agreement.

VEHICLE WARRANTY: STANDARD, PRESTIGE AND PRESTIGE PLUS

What it's about:

These comprehensive mechanical breakdown warranty options cover the parts and related costs of a mechanical breakdown. The Standard and Prestige options offer 1 year or 2 years of cover, while the Prestige Plus option provides cover for 2 years.

How you will benefit:


Why this product:

Repairs for mechanical failure can cost astronomical amounts.

COURTESYCAR

What it's about:

The CourtesyCar policy is a vehicle replacement insurance product: you're provided with a courtesy car if your vehicle is being serviced or is in for mechanical repairs, or if it was written-off, stolen or involved in an accident.

How you will benefit:

The unique CourtesyCar policy will provide you with the uninterrupted use of a hire vehicle with unlimited kilometre usage for 2 days while your car is being serviced; or for 7 days in the event of a mechanical breakdown; or for 21 days if your car is in an accident, written-off, hijacked or stolen.

Why this product:

This policy ensures that your lifestyle is not interrupted by a lack of wheels if any of the above circumstances occur.

SMART

What it's about:

The SMART policy brings you affordable vehicle maintenance! SMART covers the repair of minor dents, chips and scratches on your vehicle, helping you keep your pride and joy in showroom condition.

How you will benefit:

The excess payable is minimal so you save money. Mobile repairs are undertaken where possible and the mobile assessors are available for technical advice, so you save time and energy. You're able to maintain the condition of the exterior of your vehicle, meaning you also save money at trade-in stage without compromising the no-claim bonus on your motor insurance.

Why this product:

The monthly instalments are surprisingly affordable. The claims process is user-friendly. And you're able to keep your vehicle in mint condition, which increases your likelihood of receiving an excellent trade-in valuation. You have cover for 36 months.

VEHICLE TRACKING

What it's about:

This is a vehicle recovery device that operates via a comprehensive satellite and radio network. The device is endorsed by the insurance industry.

How you will benefit:

The device is used in conjunction with the South African Police Services. You could qualify for a substantial discount on your motor comprehensive insurance premium. You enjoy cost-saving and substantial peace of mind.

Why this product:

All three of the tracking device options available provide cost-effective value: