Retrenchment cover is vital in case you lose your job. 0000073759 00000 n 0000071969 00000 n LET YOU MONEY WORK FOR YOU! In February 2014, retrenchment was at a ten-year high. 0000017860 00000 n Choose cover between R150 000 and R3 million. No extensive physical medical examinations. This makes little sense as neither of these are substitutes for retrenchment protection. V�ݹ�UvG Retrenchment benefits may seem few and far between You can make sure that you know your legal rights in terms of what retrenchment benefits are due to you. One of the most effective ways to protect yourself and your loved ones is to take out retrenchment insurance, a type of insurance that will cover your salary for six months after you are retrenched. 0000073262 00000 n This allows you to continue paying your debts and obligations, and allows your family to continue living as comfortably as possible until you find new employment. 0000054968 00000 n If you have not found work within this period, it will be difficult to continue paying bills and other financial obligations without the help of your retrenchment insurance. 0000067805 00000 n 0000014910 00000 n Straightforward cover. endstream endobj 39 0 obj <>stream Good day We took out a credit protection premium with outsurance which is supposed to assist us when in times retrenchment,critical illness ect In the terms and conditions there is nothing stipulated regarding the covivid 19. This allows you not to default on any loans, repayments or debts while you are unemployed. BrightRock seem to suggest that a client would be better off channelling retrenchment protection premiums into additional injury/illness cover or towards a savings vehicle. If you happen to lose your job due to retrenchment, then the policy will pay you out for up to six months, to help cover your loan repayments. 0000066583 00000 n With affordable premiums on standard, affordable housing and access home loan protection plans, your bond is settled in the event of death or permanent disability. It pays out until you can continue working This might vary according to the retrenchment insurance provider you have chosen, but you will receive a payout until you can find another job or until the end of the term of the insurance. In the event of death, disability, dread disease or loss of income, your Bond Protector insurance will assist you with your outstanding bond so that your loved ones still have a place to call home. Receive retrospective payout. 0000071397 00000 n The Developers of the Arrive Alive Road Safety website are also driving the launch of the Blog at Insurancechat.co.za. Cover your car and enjoy our full range of great benefits, such as a fixed excess, 12-month guaranteed premiums and our famous cash OUTbonus. 1929/001225/06 NCA Reg No. endstream endobj 28 0 obj <>>>/Lang(en-US)/Metadata 25 0 R/OpenAction 29 0 R/Outlines 19 0 R/Pages 24 0 R/Type/Catalog/ViewerPreferences<>>> endobj 29 0 obj <> endobj 30 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/Tabs/W/Thumb 20 0 R/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 31 0 obj <> endobj 32 0 obj <> endobj 33 0 obj [/ICCBased 66 0 R] endobj 34 0 obj <> endobj 35 0 obj <> endobj 36 0 obj <> endobj 37 0 obj <> endobj 38 0 obj <>stream It provides optional cover for permanent disability and retrenchment. #!y�6�:Q\Ȁ(TN}n���Pn Call 0860 333 111 View Terms & Conditions. The cover protects you for the full loan term, up to a maximum of 60 months. This event can threaten your financial security. Members have the option to convert or continue their death cover. 0000004900 00000 n Plus, enjoy the backup of 24/7 roadside assistance. Additional Information. Direct application process. 0000018755 00000 n If you are leaving the Company, you may wish to preserve your fund benefit. 0000007073 00000 n 0000055810 00000 n OUTsurance life cover Our advisors certainly know what they’re talking about and they’ve got your best interests (and that of your family) at heart. Certain professionals in private practice, who select a seven-day or a one-month waiting period, can get backdated payouts from day one if you suffer from a … These affordable products are available to all customers with asset-based WesBank finance. 0000002829 00000 n Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test. If you are interested in retrenchment insurance to be prepared for any eventuality, read on for why it is a good idea. Receive retrospective payout. 0000056871 00000 n 0000069208 00000 n H�\��j�@E���^&��WuU��� x1�3 KmGKB����20�G��ut��n��}��.�9 �!�������mj�;�s�'y�ڮ�?����R�I��9\��iH�ʥ������1ILm�����l�.=���#\B?�̭׮ ����ח��e�Ӿ�׻�������}�X�s�4C�c݄���!���Y��-~�I�����q��Լ�SR�9��_dO��g�3xE^���-xGށ_ɯ�7r�J��/sr.��$�`!�>%|J%+���g �rC�D��������������=z����:v"�D؉�a'�N�E'�N�(;Qt��Dщ�E'�N�� �F�����o�7�� �F�����o�7�� �+�*��Wy9��r�D���)�z��W��4�m�����������1����M� Outsurance are advertising for a new recruit to be tasked with setting up a broker distribution model for their Commercial Insurance product, something that is almost certain to be seen as a U-turn on their main value proposition, cut out the middle man and save money. After paying premiums every month with Outsurance for credit protection should something happen and I am unable to work or pay some debts. Affordable premiums, great cover – built with your needs and pocket in mind. 0000011168 00000 n 0000018136 00000 n Youi is an insurance product provided and underwritten by OUTsurance Insurance Company Limited and OUTsurance Life Insurance Company Limited, authorised financial services providers (896). 0000056371 00000 n Monthly injury or illness payouts until you work again or turn 65. 0000056121 00000 n 0000005744 00000 n 0000022787 00000 n You will no longer be bringing in a salary and if you are the sole breadwinner in your household, your lifestyle will have to change dramatically. 0000009514 00000 n %PDF-1.7 %���� No. This is beneficial for those who are the sole breadwinner of the household or those whose extended family relies on them for financial help. Company Reg. *�@�Z6�d�[�Օ1j[H���^!L��� �[�%�?XL-m�;tU�� �]E�j��uTc�t�^11���?���ݴ�$���S����k��4!�`n�I��|��K����]@��A;�9�� p#a��*�c�n�cI1����Z��w�mD��o�a�a�ᜯ���=x�^�_�s|1p&,�)ߎ��� F�I^C�ӡVS����l�u���uPw�n5,_%vRkyT�Ѹ����Y�$�7z���3=�Pޠg�\if?UY�q���3́�����[W��gw\�����k5�����$�V�8�ߐ=y�P_]Y���h This will allow you to repay loans and debts as well as find work or begin another startup. Credit ombud Nicky Lala-Mohan. 0000002076 00000 n 0000069322 00000 n 0000012162 00000 n 0 �d����fK����,�,�0�9���~@iO�d�X�3�Xa_]2��� ��R4;p�sD[a~�0�]��T�w��NuyJ�݇�,l�=� d }]��oD� 27 89 a�4�(�����H�q4X�$?��\���T�d�k��.P?��8�E�ņ�Ay��;�'M�Vs�.�~HKx�P�$mǾ7��S�7�]����,�$™�1�T:��ưҡ�A�!�� ��t ��=?�7�1]aa`�`H`S8�0�A�a���*�f#f6V�a`,��Y@QP�a`ČwF�� %T�U� �R����� ���� The higher the level of underwriting, the more cover you get for the same monthly premium. 0000000016 00000 n 0000010191 00000 n For retrenchment Update your policy How to change debit order details ... You can get up to a maximum of three months' free interim death cover while your bond is being registered. Being ill while you are retrenched is stressful, but you can allay this stress by taking out insurance on your income. H��Vێ�6}�ẈY�2%Y�],�f�^��(�>�m��%�����;C�|�E��� ��2s��9�}J���O2����Jo�.�7OS�;o�6���~���E�ZBz�&K��>��/�݀�rH?�7Gϕ����z3����&�'X��k���������9IY���A`܏a�WYs����T{iR�I�Cw�̂n4�d�r If you take out retrenchment policy insurance or retrenchment insurance, then you will receive a limited portion of your salary for six months or a pre-set time period. Discussion & Guide to Finding the Best Insurance. Retrenchment benefit: This benefit is only applicable to credit life cover and is payable on the termination of the life assured’s employment. You get the monthly payment for two consecutive months into your account should you be retrenched. Monthly injury or illness payouts until you work again or turn 65. OUTbonus paid in cash. With affordable premiums on standard, affordable housing and access home loan protection plans, your bond is settled in the event of death or permanent disability. You can use some of your savings to supplement the retrenchment insurance if you feel that you need more to repay your debts. 0000022267 00000 n 0000056298 00000 n Direct application process. Keeping your savings untouched will also help once the retrenchment insurance has stopped the payouts and you have battled to find work. xref Key Features. 0000009489 00000 n One of the most effective ways to protect yourself and your loved ones is to take out retrenchment insurance, a type of insurance that will cover your salary for six months after you are retrenched. We offer retrenchment insurance and for us to assess whether this client qualifi es for cover, we need your help … You can go to the doctor or the hospital and not have to worry about whether or not your bill will be paid, which can decrease stress significantly. %%EOF 0000002878 00000 n This can be a difficult and stressful time, but you can remedy this by being proactive and taking measures to ensure that you and your family are taken care of should this happen in the future. 0000066510 00000 n SURANCE Your OUTsurance … 0000015025 00000 n When you lose it due to sickness, disability or physical impairment, you lose the ability to cover those daily costs of living. 0000003968 00000 n Itprovides cover for premature death, for life. 1. on Government to prioritise rural safety in efforts to combat stock theft, on Vote of confidence in OUTsurance Pointsmen with announcement of Privatised Pointsmen Project tender, on Fiat Chrysler Automobiles expands its dealer footprint in KZN, Insurers need to move beyond risk and protection, Covid-19 shines spotlight on gaping holes in personal risk planning and responding insurance solutions, Youth Month presents opportunity for parents to talk insurance – Insurance is a critical life skill, Naked Insurance customers to benefit from CoverPause lockdown premium savings for an extra three months, Honda Quest True Adventure 2018 official opening, Government to prioritise rural safety in efforts to combat stock theft, Vote of confidence in OUTsurance Pointsmen with announcement of Privatised Pointsmen Project tender, Fiat Chrysler Automobiles expands its dealer footprint in KZN, Man arrested for supermarket robbery in the Eastern Cape, Patient airlifted and transferred from George to Pretoria, The Naked Difference: a new approach where the company, customers and causes all win, Couple to appear for possession of suspected stolen vehicles and goods, Plummeting road crash numbers and car usage to reshape car insurance sector. 0000004637 00000 n With regards to personal insurance, a number of products are offered including a customer protection plan (known as Credit Life), a health credit policy, and a retrenchment policy. OUTsurance Credit Insurance offers accessible, easy and affordable options for clients who need a cover or security against their salary or their outstanding debt balances. An engineers’ insurance policy covers everything from accidental damage, to machinery and equipment, to public liability cover. They can offer you the best cover for your unique life insurance needs and at a price that will fit your pocket perfectly. 0000069498 00000 n 0000007213 00000 n 0000006051 00000 n Other benefits they provide include: Free roadside assistance 12 Months guaranteed Load as many beneficiaries as you want. retrenchment cover. 0000072250 00000 n Several other online mediums have been included in the drive to create a better understanding of the need for safety. /�Eş}�H)MZ)�i���p2H@Y����'j�A>������6��n�}����E���2]C�����Q��n�?�kwng��������n. 0000004524 00000 n The idea is that retrenchment insurance payments over a six-month period will allow you to meet your financial commitments and find another job or start a business, as Chantal intends to do. 0000057150 00000 n You will not have to dip into your savings If you have been meticulously saving money each month and are suddenly retrenched, having retrenchment insurance in place will mean that you will not have dip into these savings in order to survive the coming months. Members have the option to convert or continue their death cover. Retrenchment cover is not a comprehensive salary protection insurance policy. The reason retrenchment cover is not widely offered can be summed up in a word insurers dread: anti-selection. If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. The best way to prepare is to ensure you limit the risk. 0000066480 00000 n @#���pu�l�J㠻�C�������4Z���(���VU7-��d��4u](����=�P�A�Z�ͬ*�P�dk��A�) W�2{Cs��C�w�ؔ� illness or retrenchment. Find out more Start a quote trailer 0000068106 00000 n 0 j� Having this policy in place allows you to look for work without having to worry about how you will continue to repay the bills. 0000074413 00000 n Bond Cover pays the original bond amount in the event of death, dread disease or permanent disability, and pays the monthly bond instalments in the event of illness, injury, temporary disability and retrenchment. It is important that you make a concerted effort to find new work, as your insurance company will have a cut off point for the policy. 0000002627 00000 n 0000008638 00000 n A disability insurance policy will cover this, even if the disability is temporary. 0000067732 00000 n 0000054642 00000 n Thuli Zungu Consumer Line. Contractual relationships and accreditation WesBank Credit Card, issued, financed owned and administered by FirstRand Bank Ltd. An Authorised Financial Services and Registered Credit Provider. The reason retrenchment cover is not widely offered can be summed up in a word insurers dread: anti-selection. A major fear of the employed is job loss. Sanlam Indie Income Protection provides you with a reliable monthly income if you’re no longer able to work because of a disability. If you are leaving the Company, you may wish to preserve your fund benefit. <]/Prev 103432>> Retrenchment Cover, Tax Planning, Retirement Planning, Bussiness Assurance (Contingent Liability Plans), Education Plans, Collective Investment Schemes (Unit Trust and Exchange Traded Funds). But, ultimately, you should not have to use these savings at all. 0000074131 00000 n 0000004378 00000 n Find the latest insurance news, tips, product information and download forms for brokers, intermediaries and financial advisers. 0000034452 00000 n Credit ombud Nicky Lala-Mohan. 08 July 2019 - 07:59 . On Friday, 1 May. 0000056483 00000 n Retrenchment insurance covers the insured’s salary in the event that he or she gets retrenched. Certain professionals in private practice, who select a seven-day or a one-month waiting period, can get backdated payouts from day one if you suffer from a … H�\��n�0��~ Be sure to structure your final severance package optimally in terms of income tax and also ongoing personal issues such as life cover … �C�k�a`�e��ڱl��JfXl�8����t0�-���-yj�m�;%�a�!DO8��B�c���W�U��d��w�\pj㐄1 ?�9Za��S�{!��Ba�u�� �%��0P�4�q�Ao6_� +vh=�CY��)>׌�k}��q�㜭C�qDaG散����Q��- �7�R��y~�VZW��&�G�a�-D�n�Z�̄���唁��_ �q� 0000054865 00000 n 0000010108 00000 n 0000071283 00000 n • Retrenchment Cover In the event of Death or Permanent Disability, the debt covered is the outstanding balance of your personal WesBank Credit Card/Petro Card account or the Specified Maximum Amount (see table below), whichever is the lesser, as at the date of Death or Permanent Disability. NCRCP20, has entered into an intermediary agreement with FNB Life, a This cover starts on the 1 st day of the month after your account is opened. 0000005147 00000 n This is the tendency for people … The thought of being retrenched is a scary one. Being prepared is the responsible thing to do. Your income is essential to many things. OUTsurance is well-known in South Africa for their phrase "You always get something out!". But the bills will not stop coming in regardless of this fact. 115 0 obj <>stream < This is to cover the value of the debt you owe should you pass away, or assist in paying off your debt if you are retrenched or disabled,” explained Wason. Cover costs about R10 for every R1000 covered, in my case. 0000069425 00000 n 0000070908 00000 n 0000072429 00000 n h�b```f`�g`g`?� �� l@Q�%�2j200������4���!��r��ɦ���vA�X��o&(�uj.y%�*lc��7��.�N{'��362�O�P�P^�����~ή���X*�\���-i����)��LxE�ʨ���o�z8�m�}E/o�= ��Q�*:� ̹.�إ���ұK Increase your cover by 20% without additional underwriting every three years, subject to a negative HIV test. ���$���}� �kZg Retrenchment cover is vital in case you lose your job. A 35-year-old suspect was arrested at Idutywa and charged for a business robbery. The past 7 years of commitment to create road safety awareness has also contributed to a greater understanding of not only the tragedy and despair of road accident victims - but has also the dire financial consequences for victims and those left behind. It helps if you are self-employed If you are self-employed or if you run your own business, retrenchment insurance or income protection insurance is vital. 0000068383 00000 n 0000008205 00000 n 0000016885 00000 n This means that if the policyholder is forced to leave his job as a result of the company downsizing or saving on costs, then the insurance company will pay out a portion of the insured’s salary for a limited time, usually six months. 0000007915 00000 n PPS Short-Term Insurance providing relief for motor vehicle premiums paid for the month of April by means of a 20% discount. The amount depends on whether your account type is a Gold Value Bundle (R2 500 … 0000072324 00000 n It replaces your income If you are retrenched, you are no longer earning an income. H�\��j�0��~ This is because they offer 10% of your car insurance premiums back to you if you do not claim in a three-year period. 0000003413 00000 n If something happens and you can’t keep paying your bond, you can still protect your home and family with the right cover. The Retrenchment Cover Sum OUTsured will be paid monthly while you are retrenched for a maximum of 3 months per event and 9 months over the period of cover. 0000069395 00000 n Resignation, Retrenchment, Dismissal Preserving your fund benefit when you leave the Company not only provides a huge tax benefit, but is also essential to ensure sufficient provision for your retirement. 0000073577 00000 n 0000016041 00000 n 0000051924 00000 n Why do you need insurance for your home loan? Retrenchment Cover Assessment The abovementioned person is a Capitec Bank client. Thuli Zungu Consumer Line. Here a dated article about the subject: This is a natural dis It starts paying for disabilities that last for more than 21 days and continues until you recover or when you turn 70. The arrest followed after police were informed, The Northern Cape SAPS Organised Crime Detective Unit arrested one male suspect for recent alleged hijackings. View some of our great solutions below and feel free to talk to an adviser or contact our call centre for more information. 0000071582 00000 n It helps with illnesses during this time If you become ill during your retrenchment period, having insurance will allow you to pay any doctors bills. Minimum entry age: 18 next birthday Maximum entry age: 66 next birthday Key features and benefits Death benefit You can apply for cover equal to your loan amount up to a maximum of R200 000. This allows you not to default on any loans, repayments or debts while you are unemployed. A bank can insist that you take out life cover in order to obtain a bond, however, they can’t insist that you use their products. You will be able to keep those savings for what you planned to use them for, instead using the insurance payments to live off of. 0000067285 00000 n If your business should unexpectedly have to close, you will be left without the ability to repay any business loans and without a salary. In addition, you can apply to increase your cover at any time with Standard Bank’s Life Cover, Serious Illness Cover, Salary Protection and Disability Cover. 0000012744 00000 n Retrenchment Protector . This is to cover the value of the debt you owe should you pass away, or assist in paying off your debt if you are retrenched or disabled,” explained Wason. 0000004413 00000 n Comprehensive car insurance means more than just cover for all that life throws your way, it’s about giving our clients awesome service. This allows you time to find new work, which is essential in today’s economy. Retrenchment Cover, Tax Planning, Retirement Planning, Bussiness Assurance (Contingent Liability Plans), Education Plans, Collective Investment Schemes (Unit Trust and Exchange Traded Funds). Wealth Creation. We have been informed that he/she was recently retrenched. Medicines are becoming more and more expensive and if you are not receiving a salary, it can become debilitating. 0000073833 00000 n It also does not cover you in the event that you become disabled and are unable to work. The types of insurance included in an engineers insurance policy are combined to form a complete portfolio and are often underwritten by specialist insurance companies. Why OUTsurance is better than insurance. ;r;$�W� � ��1z� ��J(D�o�^Bߦ)��A�v(Kǥ0lA`�w��;/��'"�y�ֱ�y��k��B�.:�c����"v. 08 July 2019 - 07:59 . These include the Road Safety Blog, the Accidents Blog and the Car Insurance Blog. Retrenchment benefits are taxed in aggregate according to the retirement tax tables as follows: 1st R315 000 tax free Next R315 000 taxed at 18% Next R315 000 taxed at 27% Thereafter taxed at 36% Assuming you have not withdrawn any funds from a retirement fund or been retrenched before, your severance package portion would be tax free. endstream endobj 41 0 obj <> endobj 42 0 obj <> endobj 43 0 obj <> endobj 44 0 obj <> endobj 45 0 obj <> endobj 46 0 obj <>stream 0000073643 00000 n We have Life Cover products with different levels of underwriting so that you can choose the one that is best for you. Get a quote. 0000068797 00000 n Called Outsurance to assist and see process forward for the credit protection to be activated I get told I do n 0000067596 00000 n You cannot afford not to work and your bills will still be coming in, which is where retrenchment insurance will come in handy. 0000071471 00000 n startxref What Does Retrenchment Insurance Cover? 0000054895 00000 n endstream endobj 40 0 obj <>stream You will need to discuss options with your insurance broker if you are self-employed, as some providers might see you as a high-risk applicant and might offer you higher monthly premiums because of your employment situation. Resignation, Retrenchment, Dismissal Preserving your fund benefit when you leave the Company not only provides a huge tax benefit, but is also essential to ensure sufficient provision for your retirement. Income protection This cover pays a monthly amount. 0000054573 00000 n WesBank Insurance offers both personal insurance and vehicle insurance. FCA What’s Behind: Season 2, Episode 1 – The Engine Revolution. 0000007731 00000 n This cover will pay out a lump sum equal to 5% of the life cover, up to R100 000.They also waive the premiums for 6 months. Retrenchment Cover is a way to safeguard your income. LET YOU MONEY WORK FOR YOU! Members of the Rand Merchant Insurance Holdings (RMIH) Group. Retrenchment due to adverse business conditions, introduction of new technology, or the reorganisation of the business, resulting … Wealth Creation. 0000054792 00000 n Retrenchment is often unexpected and unavoidable. Straightforward cover. 0000009193 00000 n Retrenchment Cover is only for Retrenchment. Protecting your income as a small business owner or as someone who is self-employed will give you peace of mind should you have to close up shop. This way you will still be able to make medical aid contributions, so if you or a family member needs to go to the doctor or has to be rushed to hospital, you will still be covered. 27 0 obj <> endobj 0000072355 00000 n So R15 000pm cover (for up to 6 months) will be about R150pm premium. This lump sum only pays out once. 0000071220 00000 n As mentioned, it does not cover you if you get dismissed from your job or if you electively leave (or quit). In addition, you can apply to increase your cover at any time with Standard Bank’s Life Cover, Serious Illness Cover, Salary Protection and Disability Cover. Key Features. For official Government information about COVID-19, please visit www.sacoronavirus.co.za 08 600 60 000 0000013822 00000 n In the event of If you happen to lose your job due to retrenchment, then the policy will pay you out for up to six months, to help cover your loan repayments. Will allow you to repay loans and debts as well as find work or another... That will fit your pocket perfectly use some of your savings untouched will also help once the insurance! Does not cover you in the event that you can use some of our great solutions below and feel to. Quote retrenchment cover is not a comprehensive salary protection insurance policy covers everything from accidental damage, to public cover! Download the credit protection critical illness cover table - English been informed that he/she was retrenched. Additional injury/illness cover or towards a savings vehicle bills will not stop coming in of! Three-Year period is vital in case you lose your job or if you are interested in insurance! Suggest that a client would be better off channelling retrenchment protection premiums into additional injury/illness cover or towards savings. Cover ( for up to 6 months ) will be about R150pm premium wish to preserve fund. R10 for every R1000 covered, in my case to a maximum 60! R15 000pm cover ( for up to a negative HIV test it does not cover get. Get dismissed from your job insurance has stopped the payouts and you have battled to find or... Blog at Insurancechat.co.za or continue their death cover motor vehicle premiums paid for the loan. After police were informed, the more cover you in the drive to create a better understanding of employed! R1000 retrenchment cover outsurance, in my case the 1 st day of the Blog at Insurancechat.co.za 2014, retrenchment at... One male suspect for recent alleged hijackings ultimately, you should not have to pay for this cover is in. Detective Unit arrested one male suspect for recent alleged hijackings full loan term, up 6! That a client would be better off channelling retrenchment protection premiums into additional injury/illness cover or towards a savings.. Your premium to your risk are becoming more and more expensive and if you do not in... 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Essential in today ’ s economy the Company, you may wish to preserve your fund.! And charged for a business robbery disabilities that last for more than 21 days and continues until you or. Without having to worry about how you will continue to repay the bills will not stop in. Tendency for people … retrenchment cover is not a comprehensive salary protection insurance policy optional cover for permanent and... Additional underwriting every three years, subject to a negative HIV test Episode 1 – the Revolution. The payouts and you have battled to find new work, which essential. Roadside assistance up in a word insurers dread: anti-selection client would be better off channelling retrenchment.! Account should you be retrenched April by means of a 20 % discount retrenchment protection premiums into injury/illness. Dismissed from your job or if you are retrenched is a way to safeguard your income monthly income if are... To repay loans and debts as well as find work or begin another startup phrase... Is opened for why it is a scary one limit the risk you be retrenched phrase `` you always something... On any loans, repayments or debts while you are unemployed about how you will continue repay! Should not have to use these savings at all so R15 000pm cover ( for to. While you are leaving the Company, you are interested in retrenchment insurance to be prepared any. Out more Start a quote retrenchment cover is not widely offered can summed... Safety Blog, the more cover you in the drive to create a better understanding of the is! Than 21 days and continues until you recover or when you turn 70 is.. Is a Capitec Bank client a business robbery those who are the sole breadwinner the! Out! `` your debts higher the level of underwriting, the results allow us offer! Or towards a savings vehicle or she gets retrenched or those whose extended family relies on for. 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