It is often a great option to have debt protection. In some instances like with FNB, debt protection is automated and is abbreviated at ADP (Automatic Debt Protection). Owning an FNB Credit Card qualifies you instantly for debt protection – there is no need to apply for debt protection as it is automatic.
Debt protection is very important as it will pay off your outstanding credit in an unfortunate event of death or permanent disability.
There are no premiums paid for the credit cover, and each credit card product has a specified maximum cover amount.
For the FNB Petrol Card (Standalone) you will be covered for up to R1000, you will be covered for up to R2 000 if you own an FNB Classic Credit Card or you can opt for an FNB Gold Credit Card with a maximum debt protection cover of R5000.
Other Credit Cards offering a maximum cover of R12 000 for each credit card allocated, include FNB Premier Credit Card, FNB Private Clients Credit Card, and FNB Private Wealth Credit Card.
Get a credit card with FNB and access cash when you need it most 24/7. Get covered from R1000 to R12000 when you use the Petrol, Classic, Gold, Private Client and Private Wealth credit card depending on the type of FNB credit card.
“You will be protected against legal action for a specified amount on your credit card debt, or the full amount owing should it be less than the amount specified by the bank in the event of death or permanent disability.” –FNB
“The Top-up Debt Protection Plan is designed to cover any debt on your credit card. This cover is over and above your free embedded cover for FNB Petro Card (standalone only), Classic, and Gold, Premier, Private Clients, and Private Wealth Credit Cardholders. Top-up Debt Protection offers cover for the FULL outstanding balance on your credit card in the event of death or permanent disability, and cover for your minimum FNB Credit Card installments for up to 12 months in the event of temporary disability and unemployment/ inability to earn an income.”
FOR MORE INFORMATION call 087 575 1111
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