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Credit Life Insurance
 

​​​​​​​​​​LAND BANK LIFE​ INSURANCE COMPANY (SOC) LIMITED – LBLIC

With our 60 years’ experience in life insurance the Land Bank Life Insurance Company SOC Limited has tailor made offerings for farmers. With 27 financial centres and satellite offices around South Africa the Land and Agricultural Bank of South Africa’s nationwide footprint and resources enable provision of insurance services to the whole country. 

LBLIC offers credit life products that secures the wellbeing of your family and offers you financial peace of mind when taking out large loans for farming operations. We truly understand your credit life insurance needs and make it our objective to meet them.

The LBLIC Credit Life Insurance covers you in a case of death, permanent disability, temporary disability and terminal illness – the product is in line with the Credit Life Insurance Regulations of 2017. Credit Life Insurance is one of the best ways of ensuring that your farm/asset gets retained by nominated members of your estate without being burdened financially. 

Although it is a subject most people choose to avoid, it is inevitable that some members of your family will outlive you and what better legacy to leave them than a debt free inheritance. LBLIC can offer you a level term or a declining term credit life insurance policy. 

FSP: 45148 an Authorised Financial Services Provider. LBLIC in a licenced life insurer.
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Land Bank Life Insurance Company (SOC) Limited​ 

LBLIC

Provides Life Insurance Products​

Land Bank Life Insurance SOC Limited offers Credit Life products that secures the wellbeing of family and offers financial peace of mind when a farmer takes out large loans for farming operations. We truly understand the needs of the farmer and make it our objective to meet them.

Credit Life Insurance is one of the best ways of ensuring that in the event of death, disability and terminal illness a farmer is covered. This is a type of Life insurance product designed to settle the borrower’s outstanding agricultural credit loan in the event of a claim.

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Indivi​dual Cre​dit Life​​​​

​Provided directly to farmers, who have an active agricultural related loan, the policy covers the insured’s debt with a financier.​​​​

Cover Includes:​​​ DEATH & DISABILITY

  • Level-Term: Covers the initial total loan amount until it is paid off. In the event of a claim the outstanding amount of the loan is paid to the financier and the remainder paid to any nominated beneficiary the customer has selected or the estate (mortis causa trust).
  • Declining-Term: Covers the month to month outstanding loan amount of the customer. When the outstanding amount reduces so does the insurance premium and cover amount. In the event of a claim, the only beneficiary is the financier of the loan and the outstanding amount is paid to them directly.
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Group Cr​​edit Life​​​
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​Provided to a Credit Provider/ Financier (Co-ops), who requires its debtor’s lives to be insured.​​​​​​​

Cover Includes:​​​ DEATH & DISABILITY​​

  • Level-Term: Covers the initial total loan amount until it is paid off. In the event of a claim the outstanding amount of the loan is paid to the financier and the remainder paid to any nominated beneficiary the customer has selected or the estate (mortis causa trust).
  • Declining-Term: Covers the month to month outstanding loan amount of the customer. When the outstanding amount reduces so does the insurance premium and cover amount. In the event of a claim, the only beneficiary is the financier of the loan and the outstanding amount is paid to them directly.​
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