Income Protection

When the unforeseen happens and you can’t pay the instalments the TRAFICC Protection Plan protects you and your family and helps you meet your financial obligations.


I already have life insurance! Why do I need this?

For most South Africans credit is a way of life. The problem comes when the unforeseen happens and you can’t make the repayments. Will your family be able to keep up with monthly vehicle instalments? If you are retrenched, suffer a dread disease, become disabled or worse – will there be money to pay for your vehicle? Because life happens, the TRAFICC Protection Plan protects you and your family and helps you meet your financial obligations.

Unlike ordinary life insurance, the TRAFICC Protection Plan benefits go directly to paying off your specified outstanding financial obligations, leaving assets to your family. In addition, the TRAFICC Protection Plan pays out a lot quicker than a life policy. Life policies normally form part of the estate and will only be paid once the estate is finalised, by which time the vehicle may already have been repossessed. No matter how well you have planned, debt has the potential to cripple your loved ones. This policy makes sure this doesn’t happen. financial obligations.

Let’s look at the benefits in more detail

You and your family are protected in the event of:

  • Death – the total outstanding balance on your finance agreement will be paid.
  • Disability – if you are permanently unable to work, the total outstanding balance will be settled. If the disability is temporary, instalments will be settled for the period that you are unable to work. The disability must result in loss of income.
  • Dread Disease – the total balance outstanding will be paid on diagnosis of any of the following: heart attack, cancer, major organ transplant, coronary artery disease requiring surgery and kidney failure.
  • Retrenchment or Redundancy – we will pay the full monthly instalment for 6 months per retrenchment, with unlimited claims during the course of the policy.

Thus the TRAFICC Protection Plan offers a comprehensive package that covers all eventualities
The younger you are the more likely you are to be under-insured for loss of income resulting from events such as disability, dread disease and retrenchment. Life insurance does not always take into account all your financial obligations and your family may need your life insurance benefits to maintain their monthly financial commitments as far as their standard of living, home loans & education is concerned. The TRAFICC Protection Plan ensures that your family does not have the burden of debt.

But the TRAFICC Protection Plan covers so much more. No one is immune to an accident or serious physical or mental illness, and if you are unable to work for an extended period of time you will have added financial pressure. Every working person needs disability cover and every employed person needs retrenchment cover. In the event of your loss of income, the TRAFICC Protection Plan makes provision for these.

Very few South Africans have life assurance and even fewer have any form of dread disease cover. And if they do, most of them don’t have enough to take care of themselves or their family should an incident actually occur. As a result of better diagnostic techniques in modern medicine, many dreaded diseases are detected earlier with the reality that the outcome of a major health crisis is more likely survival than death. Yet, the reality of survival is a higher cost of living than the cost of dying, because you might have to make adaptions to your home or you might suffer a loss of potential income. The TRAFICC Protection Plan covers 9 major benefits, including the 4 biggest risks: Cancer, Heart Attack, Stroke and Coronary Artery Surgery. These 4 account for more than 80% of all dread disease claims.

No Medical Examination is required for cover, but as pre-existing conditions are excluded, any claim related to a condition prior to cover will not be covered. A pre-existing condition does not mean that you should not have a TRAFICC Protection Plan. For example your pre-existing heart related illnesses may exclude all related conditions, but the contracting of a Cancer would still be covered. Cancer accounts for more than 45% of all Dread Diseases! The disability claim could be a result of a personal accident (vehicle accident or falling off a roof) or from a fatal shooting/armed robbery. The claim could also be for retrenchment.

What makes the TRAFICC Protection Plan ideal?

  • It’s easy – you get Life, Disability, Dread Disease & Retrenchment cover up to R 1,000,000. There is no health risk premium loading for smokers and usually no medical is required, but pre-existing conditions are excluded.
  • It makes financial sense – you pay a nominal monthly premium, only while you have a debt on the vehicle.
  • It’s convenient – payments are simply added to your monthly instalments, or we can set up a separate debit order.
  • It’s accessible – it’s available to anyone between 18 and 65 years, with options for the borrower’s spouse or co-signers.

Imagine this…

Susan is at home with her family, like any other evening, relaxing after a hard day at work. Armed burglars force their way into their house and Susan is shot dead. This is not a situation we like to think about but it happens. Her family is left with a crisis to deal with – the last thing on their minds is her vehicle instalments! The TRAFICC Protection Plan will pay off her debt at this difficult time for her family.
John accidentally rides his off-road motorcycle into a newly dug trench. He takes a fall – injuring his spine. He is faced with spending the rest of his life in a wheelchair. He can no longer continue his employment – but he still has expenses to cover. The TRAFICC Protection Plan will take care of his vehicle expense, one less financial burden for him to worry about.

Importantly the TRAFICC Protection Plan offers you a comprehensive package that covers all eventualities.

Full loan covered if:

  • You die suddenly
  • You suffer permanent disability
  • You suffer a dread disease

Your instalments are paid if:

  • You suffer temporary disability
  • You are retrenched
how can we help you?

Contact us at the office nearest to you or submit a business inquiry online.

Get covered by Africa's largest underwriter.

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