Bond Cover

Why Bond Protection Cover?

Bond Cover pays the original bond amount in the event of death, dread disease or permanent disability, and pays the monthly bond instalments in the event of illness, injury, temporary disability and retrenchment.

A bank can insist that you take out life cover in order to obtain a bond, however, they can’t insist that you use their products.  You have freedom of choice selecting the product or insurer to use to provide the cover required by the bank.

Accepted By All Major Banks (ABSA, FNB, Nedbank, Standard Bank)

Underwritten by Old Mutual Alternative Risk Transfer, a member of the Old Mutual Group.

Bond Cover Insurance Benefits

1. Benefits are paid directly to your home loan.
2. Death Benefit (a lump sum is paid directly to the home loan within 48 hours)
3. Instalment Protection Benefit (cover home loan instalment when ill, injured or disabled)
4. Permanent Disability Benefit (a lump sum is paid in the event of a valid disability claim)
5. Dread Disease Benefit (a lump sum is paid for a valid dread disease claim)
6. Retrenchment Benefit (covers the home loan instalment for up to 6 or 12 months)
7. No medical exams or HIV tests required.
8. Joint Bond Cover (insuring 2 lives on one policy) available at an affordable premium.
9. The policy can be ceded to any financial institution.
10. Full Death Benefit paid upon death, even if instalment protector benefit already claimed.
11. No policy premiums payable while claiming for Instalment Protection Benefit.
12. Application made easy. (We handle all the paperwork ensuring you ease of application)
13. You may increase or decrease your cover to suit your home loan requirements.
14. You get up to 3 months FREE death cover while bond registration is pending.
15. Bond Cover is provided for the term of your home loan.
16. Excess cover can provide additional security for financial needs.