You can choose your own Credit Life policy

Yes — under Section 106(4)(b) of the National Credit Act you may substitute the credit life policy we offer with your own, provided it covers the same events (death, permanent and temporary disability, retrenchment), its cover at least equals your outstanding balance, its premium does not exceed the legal cap, and it is from a licensed long-term insurer.

You can choose your own Credit Life policy

Section 106(4)(b) of the National Credit Act gives you the right to substitute the credit life policy we offer with a policy of your own choice — provided your policy meets the minimum requirements:

• It covers at least the same events (death, permanent disability, temporary disability, retrenchment).
• Its cover amount equals or exceeds your outstanding loan balance.
• Its premium does not exceed the legal cap.
• It is issued by a licensed long-term insurer.

If you already have life insurance through your employer, a pension fund, a funeral cover, or a personal policy, you may be able to use that policy to cover this loan. To do so, send us:

1. A copy of the policy schedule.
2. A letter from the insurer confirming the cover amount and that the credit provider (eKasi Pay Credit) can be added as the loss payee.
3. Proof that premiums are up to date.

We'll review the policy and confirm whether it's acceptable. There's no penalty for using your own cover — you simply won't be charged our credit life premium for this loan.

To understand the cover and cost first, read What does Credit Life Insurance cover? and How is my premium calculated?