Bond protection insurance will typically pay your original bond 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. If you are the main breadwinner for your family, having bond protection cover in place will help ensure your family can continue to live the lifestyle you would want for them. The outstanding bond would be paid off or the monthly instalments covered. Bond protection cover may be used as an alternative to traditional life insurance or as additional cover.
At Better Compare we have made it quicker and easier for you to find the right cover tailored to your budget by teaming up with trusted providers.
Get cover up to 2 Million Rands to pay off or towards your outstanding mortgage balance. You may increase or decrease your cover to suit your home loan requirements, and the bond protection is able to be ceded to any other financial institution.
The bond protection policy is essentially a whole of life policy that can be kept as a life policy should you pay off your bond early or sell your property in the future. Rest assured knowing that a bond protection policy typically pays a lump sum directly to the home loan account within 48 hours of receiving all the documentation on a valid claim
It can get confusing out there in the market! Insurance companies use different names from time to time for similar products which can make it confusing whether you are comparing apples with apples. Bond protection insurance may also be known as these descriptor names opposite.
At Better Compare we always think it is better to compare what is out there before you buy any insurance cover. Well, you’re in the right place…when you’re finished comparing bond insurance why not also check out what deals you could get from a range of providers we compare side-by-side on products like car insurance and funeral cover.
Did you know that Better Compare could assist you to get pre-approved for a home loan fast? We do this by sending your home loans application quickly to up to 8 Banks all-at-once. This means that you will get multiple home loan offers from different Banks to compare against each other and in so doing you could find the best deal that suits your own personal profile and budget!
It only takes a few minutes to get started and you’ll be one step closer to a new home with your new home loan.