You means the person who has entered into a Credit Agreement with Atlas Finance and who is covered for the benefits under this Policy by paying the monthly premium. You are also referred to as the Insured for purposes of this Policy. 

We/Us means the Insurer, Guardrisk Life Limited, a long-term insurer with Company Registration No: 1999/013922/06 and FSP No 76). 

Accident means a sudden, uncertain and fortuitous event which happens at an identifiable time and place, independent of any other cause, with visible consequences and results in disability or death to the Insured person’s body or mind within 31 (thirty-one) days of the Bodily Injury. This does not include sickness or disease or any naturally occurring condition or degenerative process. Self-inflicted injury and suicide are excluded from this definition. Accidental has a corresponding meaning. 

Administrator means Atlas Finance (Pty) Ltd with Registration No 2007/028142/07 and FSP No 46412 

Bodily Injury means physical bodily injury to an Insured caused by an Accident. Bodily Injury shall be deemed to include death by starvation, thirst and/or exposure to the elements. 

Claim means, unless the context indicates otherwise, a demand for policy benefits by a Claimant, irrespective of whether or not the Claimant’s demand is valid, by submitting a claim form with supporting documentation to the Administrator. 

Claimant means a person who makes a claim in relation to this Policy. 

Claim Event means the risk insured, occurring during the currency of this Policy, being the Death, Permanent Disability, Permanent Disability or Loss of Income of the Insured. 

Disability means when you become physically or mentally disabled and are unable to earn and income thereby not being able to meet your obligations under the credit agreement. We will require proof in the form of a medical certificate from a registered practitioner and we have the right to request our own report. 

Credit Agreement means an agreement in terms of which you are indebted to your Credit Provider and which meets the criteria for credit agreements as set out in section 8 of the National Credit Act, No 34 of 2005 (as amended). 

Credit Provider means the institution that granted you the loan as per the Credit Agreement. 

Commencement Date means the date on which your policy commences. 

Exclusion means the losses of risk events not covered under this Policy. 

Insured means You, the person who is covered for benefits under this Policy. 

Insured Event shall mean the event which gives rise to Your claim in terms of this Policy. This will include Death, Temporary Disability, Permanent Disability and Loss of income benefits. 

Loss of income shall mean becoming unemployed or unable to earn an income as a result of any action that is beyond the control of the Insured, after the commencement of cover, and receiving no remuneration from any occupation. Loss of income shall also mean being retrenched as a result of the implementation of a staff reduction program, adverse business conditions, the introduction of new technology or the reorganization of the business by your employer in accordance with the Labour Relations Act of 1955. The loss of income shall not include the termination of a fixed contract, the voluntary termination of a contract by the insured, any wilful steps, actions or decisions by the Insured that leads to the Insured not earning an income. For purposes of this Policy, loss of income shall not include the loss of any supplementary income whilst the main income remains in force. 

Outstanding Loan Amount refers to the amount owed by the Insured in terms of the Credit Agreement including capital, interest, and fees provided for in the National Credit Act 34 of 2005. 

Monthly Cover refers to the option of monthly payments of your instalments in the case of Temporary Disability and/or Loss of Income benefits, as defined. 

Permanent Disability means your being medically certified total and permanent disability as a result of sickness, injury or accident, which cannot be remedied or cured by any procedure or treatment, and this disability renders you permanently unable to pursue your own occupation or similar occupation for which you may be suited through experience, training, education, age or ability and which shall remain for the rest of Your life. 

Personal Information means personal information as defined in the Protection of Personal Information Act 4 of 2013. 

Pre-existing conditions means any condition you were aware of, or that you have consulted a doctor for, or that you have received medical treatment for in the 12 months preceding the Commencement Date and which results in a Claim Event after the Commencement Date of this Policy. 

Repudiate means, in relation to a Claim, any action by which the Insurer rejects or refuses to pay a Claim, or any part of Claim, for any reason, and includes instances where a Claimant lodges a Claim:
1. i) in respect of a loss event or risk not covered by this Policy; and
2. ii) in respect of a loss event or risk covered by this Policy, but the premium or premiums in respect of this Policy are not paid, and “Repudiation” shall have a corresponding meaning. 

Settlement Cover refers to the option of lump sum settlement of your Outstanding Loan Amount in the case of Temporary Disability and/or Loss of Income benefits, as defined. 

Temporary Disability means having suffered a loss of normal income from your own normal occupation for a period in excess of 30 (thirty) consecutive days (except in cases where the credit agreement is not greater than one month) as a result of illness or bodily injury which has been verified by a duly qualified medical practitioner but which is not expected to last. The occupational category for which benefits will be paid shall be defined as Temporary Disability when your impaired ability to earn an income or meet the obligations under a Credit Agreement arise as a result of illness, injury or disease which renders you unable to continue your employment, occupation, profession or trade. 

Waiting Period means the period, starting on the commencement of cover under that benefit, during which the Insured is not entitled to any benefit upon the occurrence of a Claim Event arising during such period. 



From the date that you die, or become permanently disabled from sickness or accident during the period of your loan and your permanent disability results in you being unable to work, we will settle your full Outstanding Loan Amount with Atlas Finance. 


In the event that you become temporarily disabled during the period of your loan agreement with Atlas Finance, we will pay your monthly credit instalments:
1. for a maximum period of 12 months, or
2. during the remaining period of your credit agreement, or
3. until you are no longer disabled.
The benefit will be payable for whichever is the shorter period. A waiting period of three months from the Commencement Date will be applicable on policies where the loan term is greater than 6 months. 

YOU ARE NOT COVERED if you die or become disabled:
1. as a result from any nuclear, biological or chemical weapons;
2. due to participation in any hazardous activities, such as mountain climbing, skydiving, or speed racing;
3. due to active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion revolution, civil commotion or uprisings, military power;
4. whilst participating in any criminal activity;
5.due to suicide or self-inflicted injury;
6. due to the abuse of alcohol, drugs or narcotics;
7. due to a pre-existing condition that you were aware of within the 12 months before the inception of this Policy;
8. due to misrepresentation, mis-description or non-disclosure of any material information in connection with this Policy.

In the event that you experience loss of income/become unemployed/retrenched during the period of your credit agreement with Atlas Finance, and you had not received a retrenchment notification letter before taking out the loan we will pay your monthly credit instalments:
1. for a maximum period of 12 months, or
2. during the remaining period of your credit agreement, or
3. until you find employment or are able to earn an income.
The benefit will be payable for whichever is the shorter period. A waiting period of three months from the Commencement Date will be applicable on policies where the loan term is greater than 6 months. 

YOU ARE NOT COVERED if you experience loss of income or become unemployed due to:
1. lawful dismissal due to misconduct, forbidden act or wilful dereliction;
2. voluntary retrenchment or termination of employment;
3. voluntary forfeiture of salary, wages or other employment income;
4. resignation;
5. retirement;
6. participation in an unprotected strike;
7. retrenchment of which you were aware or received notice of during the 3 months preceding the Commencement Date;
8. Retrenchment of termination of employment within the first 3 months after the commencement of cover under this Credit Life Policy, on where the term of the credit agreement is more than 6 months.


In the event that you become temporarily disabled or unable to earn an income, your full Outstanding Loan Amount will be settled immediately, subject to the exclusions listed above. 

The Extended Temporary Disability/Loss of Income benefit is an additional benefit that can be added onto your policy provided that:
1. You are aware that this is a voluntary benefit and you are not forced to take it; and
2. Your premiums, up to the date on which the Insured Event occurs, are not in arrears.

Premiums are payable monthly in order for cover to remain in place. If a premium is not paid on its due date, a grace period of 30 (thirty) days will be allowed for the payment of the premium. If a premium remains unpaid for a period in excess of the grace period, the Policy will lapse and all benefits will cease. A Claim arising after the date of lapse will not be covered unless the Claim Event arose before the date of lapse, in which instance the Claim will be assessed and if deemed valid, the arrear payment will be deducted from any benefit payable.
Premiums are reviewed annually and any changes to the premium rate will be communicated in writing to You no less that 30 (thirty) days prior to the increase taking effect. 

Should You not be satisfied with this Policy, You are entitled to a period of up to 30 (thirty) days from the date of receipt of the policy documentation or within 30 (thirty) days from the Commencement Date within which You may cancel this Policy in writing at no cost to Yourself. Cover will cease upon cancellation of this Policy. 

You or your family member needs to go to your local branch of Atlas Finance within 90 (NINETY) days of the occurrence of an Insured Event and provide the required documentation within 6 months of the occurrence of the Insured Event. The following documents will be required to process a claim: 

In case of Death Claims:
· A fully completed claim form.
· Certified copy of the death certificate of the Insured.
· Certified copy of the DHA 1663 form.
· Police Accident Report (in case of unnatural death).
· Certified copy of the ID document of the Insured.

In case of Disability Claims:
· A fully completed Medical Report on Disability by a medical practitioner.
· Any additional requirement that we may reasonably require.

In case of Loss of Income Claims:
· A fully completed claim form.
· A retrenchment letter from the employer confirming the date and reasons for retrenchment.
· Any additional requirement that we may reasonably require.

Contact Atlas Finance on 087 701 8664 or on email or at any of our branches. 

Your policy will be CANCELLED and you will have NO COVER if:
1. our second attempt to collect the premium is rejected;
2. you give 30 (THIRTY) days notice to Atlas Finance to cancel by phone 087 701 8664 or by advising our branch staff in writing and the notice period has expired, subject to providing adequate alternative proof of cover;
3. we give you 30 (THIRTY) days’ notice that we intend to cancel and the notice period has expired;
4. a death or disability claim has been paid;
5. Your credit agreement with Atlas Finance has been settled, or your loan period has expired, whichever is the earliest.
6. Guardrisk may immediately cancel this Policy or place it on hold, refuse any transaction or instructions, or take any other action that is considered necessary in order to comply with the law and prevent or stop any undesirable or criminal activity.

The Insured acknowledges and consents to the Administrator and the Insurer processing his/her Personal Information:
to enter into this Policy and for purposes of administering this Policy and complying with his/her instructions; and
for the purposes of the prevention and detection of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of money laundering.
The Insured has the right to access his/her Personal Information held by the Administrator and the Insurer, during office hours and within a reasonable time after receiving such written request for access.
The Administrator and the Insurer will only keep the Insured’s Personal Information for as long as necessary or required by law.
The Administrator and the Insurer may transfer its rights or obligations under this Policy to a third party without the Insured’s consent and without notice. In such event, the third party will then process the Insured’s Personal Information.
The Insured may update his/her Personal Information at any time by calling the Administrator. 

1. This policy follows the laws of the Republic of South Africa;
2. You cannot cede the rights to this policy to anyone else;
3. We are not obliged to accept late premiums and this will be accepted at our sole discretion.
4. If we decide not to pay your claim you have 90 days from that date to query this decision. If we have not changed our decision you have 180 days to issue summons, otherwise you forfeit this claim and we shall have no further liability in terms of this claim.
5. In the event of a complaint or a claim to the insurer or intermediary not being resolved to your satisfaction, you may submit a complaint to the appropriate Ombud Scheme as per the details below.
6. As this credit protection policy is mandatory in terms of the credit agreement, if you elect to not choose our policy, you must provide a substitute policy (must have at least the same benefits), written proof of Atlas Finance’s interest must be noted and must be provided to us within 5 business days otherwise we can insist on our policy being issued.

This product has been created to meet your requirements. We will at all times deliver on customer service and customer expectations by enforcing the principles of Treating Customers Fairly (TCF). The TCF principles ensure we apply fairness to all client experiences relating to new business, policy terms, service, complaints and claims processes. The TCF framework has 6 outcomes which are:
1. You are confident that your fair treatment is key to our culture;
2. Products and services are designed to meet your needs;
3. We will communicate clearly, appropriately and on time during the lifespan of your Policy;
4. We provide advice which is suitable to your needs and circumstances;
5. Our products and services meet your standards and deliver what you expect;
There are no unreasonable barriers to access our services, or to lodge a claim or to lodge a complaint


Disclosure Notice
Financial Advisory and Intermediary Services (FAIS) General Code of Conduct 2003 

Your Intermediary
Business Name : Atlas Finance (Pty) Ltd
Registration number : 2007/028142/07
Physical address : 123 Oxford Rd, cnr Cotswold Dr, Saxonwold
Postal address : PO Box 980, Parklands, 2121
Telephone : 087 701 3351
Website :
FAIS registration (FSP No) : 46412
In terms of the FSP license, Atlas Finance is authorised to give intermediary services and advice for products under:
CATEGORY I – Long-term Insurance : Category A-1 and B1
Without in any way limiting and subject to the other provisions of the Services Agreement/Mandate, Atlas Finance accepts responsibility for the lawful actions of their representatives (as defined in the Financial Advisory and Intermediary Service Act) in rendering financial services within the course and scope of their employment. Some representatives may be rendering services under supervision and will inform you accordingly Atlas has been appointed as a Binder holder and Intermediary agreements through a contractual relationship with the Insurer. Atlas has the necessary Professional Indemnity and conflict of interest policy. 

Claims contact details : 087 701 3351
Complaints contact details : 011 802 4073
Compliance Officer : JD Wessels- Compliance Trust 

Your Insurer
Business Name : Guardrisk Life Limited
Registration number : 1999/013922/06
Physical address : 3rd Floor, 102 Rivonia Road, Sandown, Sandton 2196
Postal address : PO Box 786015, Sandton, 2146
Switchboard telephone : +27-11-669-1000
General email enquiries :
Website :
FAIS registration : FSP 76 

In terms of the FSP license, Guardrisk Life Limited is authorised to give advice and render financial services for products under:
CATEGORY I: Long-term Insurance : Category A, B1, B2 and subcategories B1-A, B2-A and Category C
Guardrisk has Professional Indemnity Cover and Fidelity Guarantee Cover in place. 

Your Intermediary noted above should always be your first point of contact in the event that you have a query or complaint. Guardrisk is a cell captive insurance company, we partner with other financial service providers to provide our customers with different insurance and risk solutions to suit their specific needs.

If you are dissatisfied with the feedback received from your Intermediary and/or your underwriting manager, or your complaint remains unresolved, feel free to contact the 

Guardrisk Complaints Department:
Telephone: 0860 333 361

Guardrisk Compliance Details
Telephone: +27-11-669-1104
Fax Number: +27-11-675-3826

Guardrisk Life Limited has a conflict of interest management policy in place and it is available to clients on the website: 

Particulars of the Long Term Ombudsman
(For claims/service related matters)
Postal address: Private Bag X45, Claremont, Cape Town, 7700
Telephone: +27-21- 657- 5000 / 0860 103 236
Fax number: +27-21- 674- 0951

Particulars of the Registrar of Long Term Insurance
(For market conduct matters)
Postal address: PO Box 35655, Menlo Park, 0102
Telephone: +27-12- 428-8000
Fax number: +27- 12- 347- 0221

Particulars of FAIS Ombudsman
(For advice/policy related matters)
Postal Address: PO Box 74571, Lynnwood Ridge, 0040
Telephone: +27- 12- 470- 9080
Fax number: +27- 12- 348- 3447