Credit Life Insurance

MiCredit Life, MiWay’s Credit Life Insurance product is essentially a credit life benefit that provides you and your family with the assurance that should you die, become disabled or critically ill, we will settle the outstanding amount owing on your car. Optional add-on cover includes a retrenchment benefit to take care of your vehicle finance debt.

Visit the Documents and Downloads section of the web site for a detailed list of illnesses covered under MiCredit Life and more information about this Credit Life Insurance product.

A whole life insurance product offering by MiWay is currently under development.

Why do you need Credit Life Insurance?

Credit Life Insurance can take of any outstanding debt the policy holder may leave behind. Typical examples of debt would be a car finance contract or a home loan. The Credit Life Insurance policy will, in the event of your death, pay out the outstanding capital on short or long term debt to the loan provider.