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Credit Protection Plan

This is an insurance cover that personally protects an individual or directors of company against a facility that they are acquiring.


The benefits of this product include


■  Death Cover and Permanent Disability Cover

■  Temporary Disability

■  Suicide

■  Retrenchment



A. Death Cover and Permanent Disability


If the customer dies or suffer permanent disability during the period of insurance; a payment will be made on the amount owing under the agreement at the date the insured event occurred, less

Any monthly installments more than 3 months in arrears

Any amount owing in excess of the maximum benefit payable under the policy.

Any rebate that you would have been entitled to have you settled the agreement on the day the insured event occurred.




What is not covered under Death Cover and Permanent Disability?


A self injected injury or suicide or suicide within 2 years of the transacting date.

Any condition you had at the start and not disclosed

War, riots nuclear and similar risks

Participation in criminal act

Participation in hazardous pursuits

Alcohol or drug abuse


A disability arising while you are working outside Zambia

Any condition which the life cover benefit will not be paid.

Unreasonable failure to obtain or follow medical advise


B. Temporary Disability


To receive this benefit you must

Must have been working when the disability occurred

Be prevented from working as a result of the disability

Provide prove or evidence to ensure that your claim is valid

Medical prove that you are disabled and unable to attend work

When you are no longer disabled you must return to work for at least 6 continuous months before a claim can be made


C. Suicide


Will be payable only after two years of transacting with the bank.

When the cover ends


D. Retrenchment


If during a period of insurance you are retrenched and remain unemployed for more than 30 continuous days the benefit equal to you monthly installment will be paid

Thereafter, a payment will be made for your monthly installment for each 30 continuous days you remain unemployed until a maximum of 6 months.

You must return to work for at least 12 months before you can lodge a claim again

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