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Cash back for insurance customers
Community Coordinator
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During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

For the initial lockdown period (27 March to 30 April 2020) you will be receiving 25% cashback on your car insurance premium. We know that every bit helps and we have extended the 25% cashback on your Car Insurance premium up to the end of May 2020 and 10% for June 2020. We will continue to review opportunities to assist clients with insurance relief as the lockdown levels change.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen. The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance between 27 March and 30 April 2020, and 25% per day for the period 1 to 31 May 2020. The 25% cashback is only applicable from 27 March until 31 May 2020 and will be 10% for June 2020.

 

  • The lockdown came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The initial lockdown period was set to end 30 April 2020. This means that you will be refunded at 25% per day (1 – 30 April 2020) of your car insurance premium for April.
  • You will also receive 25% cash back of your car insurance premium for the full month of May 2020 and 10% for the full month of June 2020.
  • Each months’ cashback is calculated separately.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April had 30 days under lockdown and March had 5 days under lockdown making the total 35 days of the lockdown.
  • 5 days x R32.26 per day = R161.30 for March 2020 at 25% cashback.
  • 30 days x R33.33 per day = R1000 for April 2020 at 25% cashback.
  • That means 25% of R1000 (for April) = R250 and 25% of R161.30 = R40.33 (for March).

 

That means on a R1000 per month car insurance premium, the refund will be R290,33 (R250 + R40.33) for March and April. Using the same calculations at 25% cashback for May, the refund will be R250 for May at an assumed R1000 per month car insurance premium.

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums for the period 27 March to 30 April 2020 and for 1 – 31 May 2020. This will be paid separately. Cash back for 27 March to 30 April 2020 will be paid by 14 May 2020 and cash back for the full month of May 2020 will be paid by 30th June and cashback for the month of June 2020 will be paid by 31 July 2020. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We will continue to review relief options to assist you financially during these challenging times.

 

We wish you and your family good health and safety during this challenging time.

 

Underwritten by Standard Insurance Limited. Standard Insurance Limited (“SIL”) is a short-term insurance company (Reg. No. 1993/007593/06) within the Standard Bank Group, and authorised financial services provider FSP 33348.

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56 Comments
Brad84
Not applicable

Why not full refund the full amount if I'm not driving at all.

 

Make sense since the reason you giving a discount is because of a risk factor. If my clock on my car stands still, does that not mean zero(or close to) risk?

Themba Funani
Not applicable

My plea is on loans , will standard bank reconsider also those getting more than 7500 a month.The reason being that this lockdown has had a negative impect on financies.I do need a relief urgently....

Welcome Mpisi
Not applicable

Surely , owners of cars with trackers , who are able to prove that their cars have been parked at home for the duration of the lock down should get 50% and above discount.

NtombiN
Not applicable

akufani nokuhlala"

siyabonga

 

my blood is blue :-)

Mageba
Not applicable

It's not fair, why only 25%. It means nothing for someone of us it's no work no pay. Why, don't you freeze the repayment period for three months? Other banks are doing that for their clients but standard bank, not. It's only for people who earns 7500 or less. What about the rest of the people? 

LonwaboN
Not applicable

That's great

Parlanp
Not applicable

Thanks SBI for giving back.

SmartieS777
Not applicable

My question also only the very rich.....gets time-out on their loan payments and the people earning R7500 and less per month -what about your middle class customers-are we just sponsors to the board's bonusses-a little unfair and Im thinking of moving my accounts to another bank

Llewellyn Brown
Not applicable

what if you are essenstial worker and have to travel to work with your car ?

New Member

My car was in an accident and Standard Bank took so long in getting my car fixed.  Now I ride around with a car that is looking really shabby and although lock down is happening this message is for when lock down is over.  I want someone from the accident department to please phone me and correct this in arrangements and dates etc. so that when lock down is over, this problem can be fixed onece and for all.

 

Mercia Jay ....not leaving my telephone number as you would be able to find my account with my name

Jabu Daniel masangu
Not applicable

Thank standard bank I really appropriate these.

Half of something is better than nothing 

Snowball
Not applicable

Hi Standard Bank Insurance Brokers

Thank you so kindly for this, I’d rather leave that Cashback till its three year cash out, however this is great news that you are looking at ways to help in these strange times, every little bit helps. However still the best Insurance broker to be with in good times and bad.

 !As to all the others complaining out there that they not using their cars in this time, you are forgetting that your short term insurance does not only cover your vehicle when it’s on the road in use. You will have the following covered as well whether the car is in use or not! And no I do not work for Standardbank or any insurance company nor am I been sponsored for this its noted in your Policy! (This is just my opinion and what the once policy stipulates under covered options)

*Fire* - Should something go wrong at home and the vehicle burn down you will be covered for the Fire, provided cover active (provided you covered and under all terms and conditions of your policy)

*Theft* - Should your vehicle be stolen at night when you and loved ones are sleeping, the vehicle is covered, provided cover for this is active. (provided you covered and under all terms and conditions of your policy)

*Liability* - Should your vehicle burn down and or explode for some odd reason and your neighbour is hurt, your policy will cover this too Provided you are covered and under T&C of the cover taken.

*Additional benefits* done forget all other benefits that you may have activated like car hire, excess wavers, road accident fund added, Sasria and what other benefits you added.

 

Rhona Jones
Not applicable

This is good news. Every Rand helps. Thank you

MamaSamu
Not applicable

Thank you standard bank. Best bank ever. 

Anila Nana
Not applicable

thank you

Bama
Not applicable

Thanks Standard bank. The best bank of all time

Basani Hlabathi
Not applicable

Thank you Standard bank for having your customers in mind, 25% is not much though it's better than nothing at all.

Thami Hadebe
Not applicable

Thank you Standard Bank. 

Lunga Majeke
Not applicable

Most of our cars are locked in the garage because of this lockdown, it will be better if it's 75%. But atleast half a loaf its better than nothing. Can you also please consider those who earn more than R7500 per month in their loans repayment.

Dennis mhlarhi
Not applicable

That is great discounts thank ,awesome discount,my blood is blue 

Elizabeth Haworth
Not applicable

I will behappy with the cash back of 25%.  Standard Bank your greate!!!

Marumo
Not applicable

Surely if you really looking after your customers you will look at everything like homeloans and give back too.

Most companies will not be paying their employees full salary, so if you also give 25% on the house it will be appreciated. That includes car rental.

By the way we still going to pay, you only delaying getting your money. 

But if you do that do not add interest because you will be reaping us even more. 

Ernest Modise
Not applicable

Thanks Standard Bank i really do appreciate that very much God bless 

Dieketseng Tladi
Not applicable

thank you so much,much appreciated

Andries van Veen
Not applicable

Thanks Standard Bank

Nonkosazana Mkono
Not applicable

Half a loaf it's better than no bread,I thank you Standard Bank for your effort

Sisa Giqo
Not applicable

Thanks a lot Standard bank at this bad time it means a lot to me thanks very much 

Andrew2030
Not applicable

Thank you Snowball. Are these people half wits ??  There is a spate of break ins at the moment 

Ally A
Not applicable

Thanks standard bank. Every bit counts. At least you beat the other short term insurance to be the 1st with this gesture. Something is better than nothing.

TheoM
Not applicable

Thank you. It was unexpected.

Njapha
Not applicable

better than nothing, thank you 😊

Florence T Zulu
Not applicable

Thank you very much Standard Bank for the care you demonstrate to us as clients  

Belle
Not applicable

Thank you Standard Bank. Most of us face big reductions in our income.

Peter olmesdahl
Not applicable

My vehicle insurance is all in with household and house. Will car cover be extracted from overall premium and  25% reduction worked out then? Thanls for reduction.

Reginah L
Not applicable

Tank u very much SBSA Insu, much appreciated, to see dat u hv considered options of ppl getting cash back as their vehicles won't in motion during dis lock down..... my blood is blue all da way🙏🏻

Memeng
Not applicable

Thanks for refund but would be more compensating if maybe 50%.

Otherwise its better than nothing wasnt expected

Hlabirwa
Not applicable

Very great from considerate insurer. My appeal to you is to consider those in possession of claims cards that are still loaded, can't you please convert them to cash as these are desperate [email protected]

René Lubbe
Not applicable

Thank you Standardbank. They cannot give 100% discount as cars can still be stolen and employees who works with claim must still be paid a salary

Eric Francis
Not applicable

My premium conveniently went up by R350 and now you giving back change? I will be looking for another insurer. Keep your change. 

Theresa wright
Not applicable

Hi

What about house hold insurance with the lock down we are all looking after our own houses I can't see why I must pay over R3000 per month insurance and I look after my own stuff as I'm in lock down

 

Please give me an answer

Maki
Not applicable

Wow!!!! Great news, I wasn't expecting this, my blood is blue. 

Eunice Sagwadi Gana
Not applicable

Thank you for giving back. 

Garnet Meyiwa
Not applicable

My insurance is high presently looking at how much Iam paying for 2007/2008  2,0 Nissan Qashqai Acenta and being both of us pensioners, I have done quotes from other insurace and they are far below compared to my existing insurance. I do appreciate your discount but thats just for now. To make it easy my I D Number is 4904155444085  and contact number 0824542577

Regards,

Garnet Meyiwa.

Nelsuna
Not applicable

My car is on lack down too meaning no risks at all so I think we all deserve full payment refund that will be fair enough CZ our insurance is making money out of customers who are not allowed to be on the road or drive. 

Debbie Kapoock
Not applicable

Thank you Standard Bank.

Jemaine
Not applicable

@MandyP

@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.



@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.



@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.


@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.


 

Andytime
Not applicable

Awesome, really taking us forward 

Vera Richards
Not applicable

@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.


 

Ngondo Nomatamsanqa Portia
Not applicable

@MandyP wrote:

During these challenging times we are here to help you protect what matters most. To make it a little easier for you, we are giving you 25% of your car insurance premiums back in cash!

 

Why are we doing it?

 

During the lock down, we recognise that there will be fewer vehicles on the road and as a result, there will likely be less accidents. In response to this reduced risk, we are going to be refunding all our insurance clients 25% of their car insurance premiums within 14 days after the lock down ends.

 

How do I qualify?

 

To qualify, you need to ensure your premium is paid up to date. This will also make sure your car is still protected during lockdown should anything happen.

The cashback will apply to policies underwritten by Standard Insurance Limited only.

 

How is it calculated?

 

We will be calculating the cashback at a rate of 25% per day on the premium that you pay on your car insurance. The cashback is only applicable for the period of the Government announced lockdown:

 

  • The lock down came into effect on 27 March. This means that for the last 5 days of March 2020 you will be refunded at 25% per day (27 – 31 March 2020) of your car insurance premium for March.
  • The current lock down is currently set to end 16 April 2020. This means that you will be refunded at 25% per day (1 – 16 April 2020) of your car insurance premium for April.
  • Each months’ cashback is calculated separately.

 

Should the lock down be extended, we will adjust your cashback and extend it to cover the full period of the lock down to ensure that you get the maximum cash back.

 

Let’s help you calculate your cashback:

 

  • Say your car premium is R1000. April has 30 days. That means R1000 car premium / 30 days = R33.33 per day. March has 31 days meaning R32.26 per day.
  • April is anticipated to have 16 days under lock down and March had 5 days under lock down making the total 21 days of the lock down 
  • 5 days x R32.26 per day = R161.30 for March
  • 16 days x R33.33 per day = R533.28 for April
  • That means 25% of R533.28 = R133.32 (for April) and 25% of R161.30 = R40.33 (for March)

That means on a R1000 per month car insurance premium, the refund will be R173.65 (R133.32 + R40.33).

 

When and how will you pay me?

 

We will be paying all our loyal car insurance clients like you 25% of their car insurance premiums as a once off payment within 14 days after the lock down ends. This will be paid into the same bank account from which we collect your Car insurance premium.

 

We wish you and your family good health and safety during this challenging time.



better than nothing I will appreciate. 

Kr Ramlall
Not applicable

Hi guys!

I empathise with many of the comments.  I have been a loyal client since 1991 and was an employee of Standard Bank for 14 and a half years.  Whenever I hear about your retrenchments it breaks my heart.  At a time like this I would love to see the guys from the upper echelons taking a pay cut to redistribute to the frontline staff such as tellers, enquiries etc. the ones who really interface with your clients every day, and the first ones to get the chop in the name of progress.  We are witnessing a turning of the tide towards what I hope will be a benevolent world. Take better care of your people. Retrenchment should never be considered in favour of the 4th industrial revolution.

 

When I worked for you I believed in every value and vision.  Do you remember "Moving Forward".  I loved that one.  A great business takes its people with.

 

Kind regards

K Ramlall