Insurance Products

Credit Protection Policy

What it's about

Credit life protects you and your family in the event of your death, permanent disability, temporary disability, retrenchment or diagnosis of a dread disease.

How will you benefit

In the event of your:

  • Death: This benefit will pay out what you still owe your finance provider.
  • Permanent Disability: This benefit will pay out what you still owe your financial provider.
  • Temporary Disability: While you are temporarily disabled you will receive an amount of money equal to your monthly instalments.
  • Dread Diseases: The policy will pay out what you still owe your financial institution once there is a conclusive diagnosis of the dread disease.
  • Retrenchment: Your monthly instalment will be paid for a maximum period of 3 months per claim, but limited to a maximum period of 6 months after a waiting period of 3 months.

Why this product

Peace of mind knowing that your family won't be left struggling with debt they can't pay in the event of your death or permanent disability.


GAPP (Guaranteed Auto Protection Plan)

What it's about

This is an extended policy that you can include together with your Comprehensive Policy. It will give you additional cover should your Toyota be damaged, written off or stolen and you find that the money your insurer pays out is not enough to cover what you still owe your finance provider.

How will you benefit

Shortfall Cover

  • Will pay the difference between what your Comprehensive Insurance pays and what you owe the bank, excluding arrears, arrear interest and refundables (i.e. Warranties) up to a maximum of R1 000 000.
  • This benefit will pay up to a maximum of R6 000 towards your excess on your comprehensive insurance claim.

Loyalty Bonus benefit

  • We will pay R5 000 towards the purchase of a replacement vehicle of your choice from a Toyota dealership within 3 months of finalising the Underlying Policy claim.

Instalment Protector Benefit

  • Pays your monthly vehicle instalment to the finance provider if the vehicle is declared a Total Loss. The maximum monthly payment will be equal to your vehicle instalment, but limited to R5 000.

Expense Assist Benefit

Bodyline Maintenance (Optional)

  • Optional cover where your vehicle suffers minor damage (dents & scratches) and the total repair cost is less than a maximum of R3 000 per claim with no excess applicable.

Why this product

You have the comfort of knowing that should your vehicle be written off or stolen and if there is a shortfall on the amount you owe your finance provider, this policy will cover that shortfall.


Deposit Protector

What it's about

This policy will pay back the deposit that you paid at the time of purchasing your new or used Lexus, in the event it is written off, or stolen and not recovered, or damaged beyond economical repair.

How will you benefit

  • This policy will pay the deposit paid by you at the original purchase date.
  • The maximum liability under this policy shall not exceed R500 000.
  • You must ensure that the vehicle is comprehensively insured for its full market value in terms of the underlying policy.

Why this product

An insurance pay-out is often not enough to cover the deposit that you originally put down on your credit agreement with your finance provider.


Retrenchment Policy

What it's about

In the event that you are involuntary retrenched, this policy will take care of your monthly vehicle instalment, leaving you to focus on finding alternative employment and not worry about your monthly vehicle instalments.

How will you benefit

  • This benefit is only payable in the event of involuntary retrenchment.
  • While you are retrenched, the policy will pay your full instalments (including insurance premiums, but specifically excluding arrear interest and arrears).
  • The maximum time period over which you will be covered for is 9 months limited to a maximum of 6 months for the 1st claim.
  • There is no cover for the first 3 months of this policy.

Why this product

In our current struggling market economy, the chance of being retrenched and being left with no funds to pay your debt is unfortunately high. This product will minimize loss to you and your finance provider.


Commercial AssetSure (Shortfall cover)

What it's about

You may find that the money your insurer pays out is not enough to cover what you still owe your finance provider. This is an extended policy that gives you additional cover in the event your vehicle is written off or stolen.

How will you benefit

  • This policy pays the difference between what your Comprehensive Insurance pays and what you owe the bank, excluding arrears, arrear interest and refundables (i.e. Warranties) up to a maximum of R1 000 000.
  • This policy pays up to a maximum of R6 000 towards your excess on your comprehensive insurance claim.

Why this product

You have the comfort of knowing that should your vehicle be written off or stolen and there be a shortfall on the amount you owe your finance provider, this policy will cover that shortfall.


Courtesy Car

What it's about

When your Lexus is being serviced or in for repairs or it's been stolen or written off, this policy will provide you with a hired car whilst your vehicle is not in your possession for a number of specified days per event.

How will you benefit

A hire car for:

  • 21 days in the event of an accident or your vehicle is written off or when the vehicle is hijacked or stolen.
  • 7 days in the event of a mechanical breakdown.
  • 2 days when the vehicle is booked in for a service.

Why this product

Avoid the inconvenience of not having a vehicle to get you to work or business due to the above circumstances.

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