Streamline Level Term Life Insurance

Streamline Level
Term Life Insurance

An opportunity to insure your Bizcash Credit Facility.

Giving you peace of mind ensuring your debt is covered.

The Stangen Streamline Level Term Life Insurance Policy is in keeping with the wholistic facility and support services approach of Bizcash, designed specifically to give you piece of mind, especially through these trying times, making sure your debt is covered.

Bizcash has partnered with The Standard General Insurance Company “Stangen” and General Risk Administrators SA “GRSA” as a leads provider. Stangen, a niche life insurer committed to meeting the true modern life protection needs of customers. GRSA is a specialist Underwriting Agent and Insurance Administrator.

This is insurance which has a level sum insured, i.e. one where the sum insured  does not reduce over the period of the policy. The policy term is up to 6 years. It is ideal for securing debt and provides for amounts in excess of what is owing in terms of your Bizcash debt to be paid to your estate.

 

Having the security of the Insurance Policy is important. It allows you to rest easy knowing your debt will be taken care of when you are unable to look after it. Peace of mind comes from knowing your loved ones are protected.

Unfortunately, no, the Streamline Level Term Life Insurance is only applicable for approved Bizcash clients as an Add-On benefit to your approved facility.

You can apply during your registration. Should you choose not to, you can also apply through your Bizcash profile once your facility has been approved and activated.

Yes. The Stangen Streamline Level Term life Insurance Policy is available to all directors / members and key individuals. From a review of your business, you should be able to determine who should seek to apply for the cover and gain peace of mind.

The Streamline Term Life Insurance is designed specifically to provide peace of mind. It allows for the payment of benefits which firstly repay your Bizcash debt and thereafter provides for payment to your estate or payments to yourself where chronic illness strikes.

The product is competitively priced. The premiums reward healthy lifestyles and preferable risk profiles. Additionally, the remaining funds (after settling your outstanding Bizcash debt) may be paid to your estate or your company.

This off-the-shelf product provides benefits for upto a six-year period. Beyond the period of your initial Bizcash facility obligation, the policy may be used to ensure peace of mind for the family or to secure a future facility at Bizcash.

Your Streamline Level Term Life Insurance Policy can provide a sum insured up to a maximum of R1,000,000.

 

Bizcash has partnered with The Standard General Insurance Company “Stangen” and General Risk Administrators SA “GRSA” as a leads provider. Stangen, a niche life insurer committed to meeting the true modern life protection needs of customers. GRSA is a specialist Underwriting Agent and Insurance Administrator.

The remaining funds, after settling the current Bizcash obligation, will be paid to your estate.

You need to determine whether this product suits your needs, be between the age of 18 and 60 and reside permanently in South Africa.

You most certainly can. The policy has up to a 6-year term.  The sum insured does not reduce. It is designed to extend beyond most short-term loan periods. The cover continues irrespective of the fact that your Bizcash facility may have been repaid.

Bizcash will issue you with a insurance policy document which will contain all pertinent information including the Claims Procedure with all the relevant contact details to process your claim.

Your Stangen Streamline Term Life Insurance Policy may cancelled at any time. You need to merely advise the Administrators in writing and they will, subject to the Terms and Conditions of the Policy, attend to the cancellation. You can submit your request directly to General Risk Administrators SA “GRSA” to cancel by contacting GRSA on 0861 222 871 or admin@grsa.co.za. 

Alternatively speak to your Bizcash consultant for assistance as to who you should contact.

However, before proceeding with a cancelation, we would urge you to consider whether the action of cancelling is the best for you and your particular circumstances.

We operate as a leads provider on this policy as it is designed specifically to give you piece of mind knowing your debt is covered.

Having the security of the Stangen Streamline Term Life Insurance policy is important. In the event of death or specified chronic illness your Bizcash facility will, subject to the policy terms and conditions, be settled, and any surplus amount will be paid to your Estate

risk-assesment
No medicals up to R1,000,000.
cash-flow.png
Competitively priced.
estate-payment
Remaining funds after your outstanding debt has been settled will be paid to your estate.
off-the-shelf
A simple off-the-shelf product.
paid in full
Can be kept after the facility amount has been paid in full.

Important points to note:

  • The Stangen Streamline Level Term Life Insurance is only applicable for approved Bizcash clients as an Add-On benefit to your approved facility.
  • This is life cover and your Bizcash facility exposure will be settled to the sum insured only upon your death or critical illness as defined in the Streamline Term Life Insurance policy as well as any and all exclusions.
  • To qualify for this benefit, you must be under the age of 60 and you must be an official resident of South Africa.
  • The Streamline 6 Year Level Term Life Insurance Policy is only a 6-year term policy and cover lapses after 6 years.
  • Please refer to the full Streamline 6 Year Level Term Life Insurance Policy Document for a full understanding of what the policy covers, the terms and conditions applicable, what the exclusions are and whether this is a policy suited to your requirements.
  • Payment of excess to the estate or beneficiary of the life assured may be subject to tax; please speak to your tax advisor in this regard.
Policy underwritten by The Standard General Insurance Company Limited “Stangen” is a licensed insurer in terms of the Insurance Act, 2017.
Registration Number 1948/029011/06 (Authorised FSP: No 47235). General Risk Administrators SA (Pty) Ltd “GRSA” / “General Risk SA” is a licensed intermediary in terms of the Insurance Act, 2017. Registration Number 2005/019825/07 (Authorised FSP: No 43257).  

Alternative Finance Solutions (Pty) Ltd t/a Bizcash is not an insurer, underwriter, binder holder or intermediary in respect of any insurance product, is not party to any insurance policy contract or bound by any terms and conditions applicable to any insurance product and is not liable for any claims under any insurance policy.

We do not dispense financial advice and we do not undertake a needs analysis of your specific financial situation or -requirements. We only provide relevant product information to enable you to make an informed decision. We are therefore also not in a position to customise the product or to consider any exceptions in this regard.