Absa Corporate Logo

Embedded Retrenchment Cover Plan

Pays benefit on the salary account in case of retrenchment from full-time employment

What is our Embedded Retrenchment Cover plan?

The Embedded Retrenchment Cover is payable if you were retrenched from full-time employment. It is a benefit on your salary account. The Salary Account is a current account into which you receive your monthly salary. In terms of this Policy, Absa Bank Zambia (“ABZ”) pays to the insurer the premium as agreed (this is at no additional cost to you as an Accountholder) and at claim, the applicable benefits are payable directly to you (the beneficiary).

Eligibility criteria

As an Accountholder you need to meet the following criteria to qualify for cover:

  • You must be between the ages of 18 and 64 years (age last birthday).
  • You must be employed on a fulltime contract (permanent or fixed term which is a minimum of 2 years).
  • Must continue receiving your salary in the qualifying ABZ Salary Account.
Image

Speak to a consultant

Information captured will be treated in accordance with the Privacy and Security Policy. By submitting this form you are giving Absa permission to process information for purposes of rendering product sales and customer support through means of email and/or telephone.