In today’s struggling economy, the chances of being involuntarily retrenched are high, leaving you with insufficient funds to pay your debts. This cover will help ease your concerns by taking care of your monthly vehicle instalments in case of retrenchment.
About Retrenchment Cover
The Volkswagen Retrenchment Policy takes care of your monthly vehicle instalments if you are involuntarily retrenched, allowing you to focus on finding alternative employment instead.
Our Retrenchment Policy will cover your monthly car payment for a maximum period of six months after you are involuntarily retrenched for the first time. We will then pay an additional three months’ worth of instalments if you are involuntarily retrenched for a second time. The policy will cover a maximum of nine months' payments.
The policy benefits will stop as soon as you become employed again, or when you have reached the maximum benefit period of nine months.
Terms and conditions Apply
1. Volkswagen Financial Services Retrenchment Cover is provided by Volkswagen Financial Services South Africa (Pty)Ltd(Reg. No. 2013/133698/07),(VAT No. 4760263576), an authorised Financial Services Provider (FSP: 44827) and Credit Provider (NCRCP No.: 6635), and underwritten by The Hollard Insurance Company Limited, an authorised financial services provider(FSP:17697), (Reg. No. 1952/003004/06).
2. Please note that this is not the policy wording. Please read the policy wording for the full benefits, as well as the comprehensive terms and conditions of this cover.