Automatic Debt Protection. 30.1.1. You will receive Automatic Debt Protection cover, as an embedded value added service and a credit life insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser amount, on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve (12) months of the event; • We will not waive any amount owing to us that is greater than five thousand Rand (R5 000) for Aspire cardholders, twelve thousand Rand (R12 000) for Premier cardholders, one thousand Rand (R1 000) for “Standalone Petro Card” holders, twelve thousand Rand (R12 000) for "Private Clients" cardholders and twelve thousand Rand (R12 000) for “Private Wealth”cardholders.
30.1.2. The Automatic Debt Protection Plan starts on approval of your credit card facility and ends: • When the Insurer pays a claim in the event of your death or permanent disability; • If you are under special arrangement and default twice, whether consecutively or at any time during a sixty (60) month period, the Plan will automatically terminate, and you will lose your cover and have no claim under this Plan.
30.1.3. We will not waive any amount: • Willful self-inflicted injury or suicide for a period of twelve (12) months from the Start Date of this Plan; • Active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion revolution, civil commotion or uprisings, military power; • Any pre-existing condition/s that you were aware of and that affected you in the twelve (12) months prior to the Start Date of this Plan will be excluded for a period of twelve (12) months after the Start Date of this Plan; • Disability that arose within three (3) months of the Start Date of this Plan; • The covered event arose from participation in criminal activities; • If your account is not in good standing because it has an unacceptable arrears status as at the date of your death or the event causing permanent disability, i.e. if you have not paid two or more monthly premiums owing on your credit card that became due and payable; • If this agreement and/or your right to use the credit card and/ or your credit card facility ends; • If at the date of your death or the event causing permanent disability, you are seventy (70) years ol...
Automatic Debt Protection. 31.1.1 You will receive Automatic Debt Protection cover, as an embedded value added service and a credit life insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser amount, on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve (12) months of the event; • We will not waive any amount owing to us that is greater than five thousand Rand (R 5 000) for Aspire cardholders, twelve thousand Rand (R 12 000) for “Platinum” cardholders and one thousand Rand (R 1 000) for “Standalone Premier Petro Card” holders. Twelve thousand Rand (R 12 000) for “Private Clients” cardholders. Twelve thousand Rand (R 12 000) for “Private Wealth” cardholders.
31.1.2 The Automatic Debt Protection Plan starts on approval of your credit card facility and ends: • When the Insurer pays a claim in the event of your death or permanent disability; • If you are under special arrangement and default twice, whether consecutively or at any time during a sixty (60) month period, the Plan will automatically terminate, and you will lose your cover and have no claim under this Plan.
31.1.3 We will not waive any amount:
