Nedbank Insurance

Nedbank is a South African financial services provider and insurer that offers a range of insurance solutions to suit your specific needs. The insurer is committed to providing quality and affordable insurance products that protect you from financial risks.

A brief history of Nedbank

Nedbank's history dates back to the establishment of the Cape of Good Hope Bank in 1831. Through several rebranding and structural changes, it evolved into the Nedcor Group in the 1980s before eventually becoming Nedbank Group in 2003.

Today, the bank has strategic alliances worldwide and is considered one of the most transformed banks in South Africa. In recent years, it has achieved a number of notable milestones, such as acquiring Banco Único in Mozambique and becoming the first African bank to achieve carbon neutrality.

Insurance solutions offered by Nedbank

• Life insurance
• Disability insurance
• Funeral cover
• Credit life insurance
• Homeowners insurance
• Motor vehicle insurance
• Business insurance
• Travel insurance

Nedbank's commitment to customer service

They’re committed to providing you with exceptional customer service. The insurer has a team of experienced and knowledgeable insurance professionals who are always on hand to offer expert advice and assistance. They have a user-friendly website that allows you to manage your insurance policies online, including making claims and updating your personal details.

Awards and recognition

They’ve received numerous awards and recognitions for their commitment to excellence and innovation in the insurance industry.

Nedbank won several awards in 2020 and 2021, including The Banker Deals of the Year 2021 for Africa and the Global Finance magazine award for Best Investment Bank and Best Debt Bank in Africa.

They also won awards in various categories, such as Fixed Income Trading, Diversified Industrials, and Offshore Management, as well as for their innovative banking technology and commitment to social impact investing and philanthropic advice.

Credit life insurance is an essential insurance product if you’ve taken out a loan or credit facility.

This type of insurance provides coverage for the outstanding debt in the event of your death, disability, or retrenchment. Nedbank's credit life insurance products offer a range of features and benefits and include:

• Death cover
• Disability cover
• Retrenchment cover
• Premium waiver benefit
• Accidental death benefit

A range of credit life insurance plans to suit your needs

• Basic insurance – This plan provides coverage for the outstanding debt in the event of your death, disability, or retrenchment.
• Comprehensive insurance – This plan provides the same coverage as the basic plan but also includes a range of additional benefits, such as a premium waiver, accidental death benefit, and funeral cover.
• Home loan insurance – This plan provides coverage for the outstanding balance on a home loan in the event of your death, disability, or retrenchment.
• Vehicle and asset finance insurance – This plan provides coverage for the outstanding balance on a vehicle or asset finance agreement in the event of your death, disability, or retrenchment.

How much coverage do you need?

Nedbank's credit life insurance plans provide coverage for the outstanding debt on your loan or credit facility. The amount of coverage you need will depend on the size of your loan or credit facility.

Their plans provide coverage for up to R10 million, depending on the plan you choose. They also provide coverage for funeral expenses, with the comprehensive plan offering up to R20 000 in funeral cover.

Benefits of choosing Nedbank

• Comprehensive coverage that provides peace of mind
• Competitive premiums that suit your budget
• Flexible payment options that allow you to pay your premiums monthly or annually
• Fast and efficient claims processing
• Expert advice from experienced insurance professionals
• Access to a range of value-added services that enhance your insurance experience

The T’s and C’s of credit life cover with Nedbank

These insurance plans are available if you’re between 18 and 65 years old and have taken out a loan or credit facility. The premium for the insurance product is calculated based on the outstanding debt, your age, and the type of plan chosen.

The insurance plans have a waiting period of between one and six months, depending on the plan chosen. During this waiting period, you’re not covered for death, disability, or retrenchment.