Free salary protection in time of uncertainty

While there are positive signs of recovery in the current economic turmoil, what we have learnt through the recent downturn worldwide is that nothing is certain. The same applies to unforeseen circumstances which may alter the security of one’s livelihood.

For this reason, Nedbank is alleviating the pressure associated with the prospect of losing one’s salary in the event of death, disability or retrenchment with the launch of its free salary protection offer.

‘Nedbank is about more than just offering banking products, but takes into consideration the plight of its customers who may face the uncertainty in the current economic climate’, says Bryan McLachlan, head of Transactional Products at Nedbank.

The offer entails a maximum payout to the value of R30 000 in three consecutive payments of R10 000 for three months, irrespective of the customer’s salary. ‘To qualify for the free cover, consumers must open any one Nedbank account, namely Nedbank Current Account, Savvy Electronic, Dezign Banking Account or Everyday Current Account, deposit an income of at least R3 000 or more and conduct at least two debits per month for the duration of the cover.

The free cover commences as soon as the account is opened and runs until 30 June 2011.

‘As the cover includes payout in the event of retrenchment, disability or even death, it provides a sense of comfort in knowing that, while paperwork is completed for various other policies that the client may have, there is a guaranteed income for a period of three months. This money could go towards daily living expenses such as grocery, electricity and school fees for example, easing any stress that may be experienced at this time,’ concludes McLachlan.