Insurance South Africa | Mortgage Protection
Insurance or Bond Cover
is a life insurance plan providing cover specifically with regards
to home loan and mortgage protection in South Africa.
A Bond Insurance Plan pays the outstanding home loan in the
event of death, dread disease or permanent disability, and the
monthly home loan instalments in the event of illness, injury,
temporary disability and retrenchment.
As a homeowner you have the option to choose any additional benefits
to the death benefit.
NO medicals or HIV tests are required!
What Cover Options Do I Have?
The total sum insured will be paid in case of the insuredís death,
even if it is more than the outstanding home loan.
Instalment Protection Cover
Should the insured not be able to earn an income for 90 days or more
due to illness or injury, the bond insurance plan will cover the
monthly home loan instalments.
In case of permanent disability where the insured is unable to earn
an income for 90 days or more, the bond protection plan will cover
the monthly instalments for the first 2 years. After this period,
the full sum insured will be paid out.
If the insured is retrenched for longer than 30 days, his/her
bond insurance plan will pay the home loan instalments for a maximum
period of 6 months.
Dread Disease Cover
In the event where the insured is diagnosed with a dread disease,
the bond protection plan will pay the sum insured after a period of
90 days into the home loan account.
Complete the following form for a Bond Insurance Quote: