Distinct" Broker Product - Adding the last piece to the puzzle to complete the picture (04/06/2008)

Cardif Pinnacle now offer Brokers the opportunity to enhance their product line up by offering them a range of bespoke creditor related insurance products.

Credit Life (Credit Protection Insurance/CPI)
Pays the outstanding balance of your vehicle finance agreement in event of:

• Death
• Total Disability

Help U Pay (HUP)
Often referred to as a mini credit life - pays up to ten months of the actual finance agreement instalments in event of:

• Death
• Total Disability
• Temporary Disability

Shortfall Protection (GAP)
Where the vehicle is a total loss (by theft or write – off) we will pay the difference between the amount still owing under the vehicle finance agreement and the claims settlement amount paid by the underlying comprehensive motor insurer (which we shall deem not to be less than market value.)

Deposit Protector (DP)
Where the vehicle is a total loss (by theft or write -off) we will pay the actual deposit paid by the insured when he/she bought the vehicle, up to a maximum of 10% of the original purchase price of the vehicle.

Instalment Protector (IP)
In the event of a total loss (by theft, hijacking or write – off) an Instalment Protector pays up to 2 monthly instalments due in terms of the insured vehicle’s finance agreement, up to a maximum benefit of R18 000.00 per month whilst the motor comprehensive insurer is investigating its total loss claims.

Excess Protector (EP)
In the event of a total loss (by theft, hijacking or write – off) an Excess Protector pays out the actual excess amount payable in terms of the underlying comprehensive motor insurance policy up to a maximum of 10% of the market value of the insured vehicle.

Waiver of Premium (WOP)
In event of a debilitating event such as temporary disability, critical illness or retrenchment, WOP will pay the monthly instalment of the domestic insurance policy not exceeding R2000.00 per month for up to 3months.

*Self employed people will get Hospitalisation cover as opposed to a Retrenchment benefit."

Return to Invoice (RTI/Depreciation Insurance)
Where the vehicle is a total loss (theft or write - off), we will pay the difference between the original invoice price of the vehicle as at date of purchase and the claims settlement amount paid by the underlying comprehensive motor insurer (which we shall deem not to be less than market value) for up to 3 years.

• We will pay up to R3000.00 of the excess payable in terms of the underlying comprehensive motor insurance policy when there is a valid RTI claim.
• RTI gives an allowance for manufacturer fitted extras to be added to the vehicle sum insured up to a maximum value of 10% over new list price (new vehicles) or retail value (second hand vehicles)