Conditions: Know exactly which conditions – which fall under disability, critical illness, retrenchment, loss of income and death – are covered by your credit life insurance cover.

Debt covered: Make sure that you are aware of exactly how much of your debt is covered, whether it is partially or fully covered and for how many installments your debts are covered.

Different policies have different waiting periods. For example, some policies may have a 60 day retrenchment waiting period. This means that you cannot claim any benefits if you are retrenched within the first 60 days after the start date of the policy.

Pre-existing health conditions such as heart disease, may also be subject to a waiting period.  Always ask about waiting periods on your credit life insurance policy so you know when claims will and will not be paid.

Most policies are available to people aged 18 to 65. It is always a good idea to check what happens when you reach this age and to see whether your cover changes or falls away.

There are certain instances when your credit life insurance policy will not pay out at all – make sure you know when this is.

Make sure that you are covered under your type of employment Also ensure that your credit life insurance cover is applicable if you are self-employed.