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Auto Settlement


When the worst happens and you suffer a traumatic setback, the last thing you need to worry about is your vehicle payments. Luckily, with Auto Settlement from Bidvest Life, you can rest assured that circumstances such as accident, illness, retrenchment, sequestration/liquidation and death do not result in you, or your loved ones, losing the use of your vehicle.

Simply give us a call and we will calculate a premium (paid upfront or on a monthly basis) that allows you to protect you and your family in the event of the following:

  • Accident or Illness Resulting in Temporary Disability
    Temporary disability through an accident or illness often results in a loss of income. It’s this loss of income which might not only change your lifestyle but could result in you not being able to meet your monthly vehicle instalments. Auto Settlement provides the solution by paying your vehicle instalments on your behalf for up to 6 months.
  • Retrenchment – In the event of retrenchment the policy pays your vehicle instalments for up to 4 months while you make provision to resume employment.
  • Sequestration/Liquidation
    Auto Settlement protects you in the event of your business being liquidated, or you being sequestrated, and will pay your vehicle instalments for up to 4 months.
  • Dread Disease
    Auto Settlement will settle the outstanding amount on your credit agreement in the event of you suffering from one of the listed 27 Dread Disease conditions. Some of the dread diseases include Cancer, Heart Attack, Stroke, Paralysis, Blindness, and Alzheimers.
  • Permanent Disability
    Permanent Disability carries with it a tremendous financial burden and in such an event Auto Settlement settles your outstanding debt with the finance company.
  • Death Benefit
    Auto Settlement will settle your outstanding debt with the finance company in the event of your death. This payment does not form part of your estate and is paid without any unnecessary delay.

Policy Highlights

  • Cover against temporary disability, retrenchment, sequestration/liquidation, dread disease, permanent disability and death
  • No medical required (provided you are in good health)
  • If you have not reached the age of 61, you are eligible for the dread disease benefit
  • Between the ages of 61–71 you qualify for life cover only
  • No premium loading
  • Your premiums remain the same for the duration of your contract

What our clients are saying

Underwritten by Bidvest Life Limited. Please refer to the policy wording for full details on this product.