Dear Debtline Family
We know that this is an incredibly stressful and frightening time for many of you. Thousands of South Africans are facing salary cuts, complete income loss, and even retrenchment. Worst of all, I see so many people in desperate financial situations, with no idea of how to support themselves and their families.
There has been a lot of talk about payment holidays and other temporary solutions for COVID-related financial distress, but virtually no discussion around what I believe to be one of the best ways to ensure financial security – going under debt review, and getting covered by the insurance that this includes.
As explained in the National Credit Act 34 of 2005, credit life insurance is an insurance policy that covers the repayment of your debt if you are unable to make payments due to death, disability or, most pertinently, loss of income due to forced unpaid leave or retrenchment. It is a mandatory part of the Debtline debt review process and an invaluable way of securing your finances.
One of the biggest challenges faced by South Africans is the navigation of the insurance process. You have to factor in your budget, credit score, dependents, debt status, and many more variables that can make the process incredibly overwhelming and confusing. This is yet another way we are able to help, as we can advise you on how to simplify the insurance process as part of your debt review journey.
Our team of expert, NCR-certified debt counsellors are ready and waiting to assist and guide you to a place of peace, safety and financial security.
We are here for you, and we will do all that we can to protect you in these uncertain and frightening times.
Primary Debt Counsellor for Debtline