Pays Your Home Loan When You Can't!
A serious illness can change your life overnight. Medical costs increase, income may be reduced, and financial pressure builds quickly. Dread disease bond cover is designed to protect your home loan if you are diagnosed with a severe medical condition such as cancer, heart attack, or stroke. Instead of worrying about bond repayments while focusing on recovery, this cover provides a lump sum payout directly to your home loan account.
For many homeowners, the house is their most valuable asset. Bond cover for cancer and other critical illnesses ensures that your home remains secure during one of life’s most challenging moments.
Dread disease bond cover is a type of critical illness insurance linked specifically to your home loan. If you are diagnosed with a covered condition, the policy pays a lump sum equal to your selected insured amount. The payout is made directly into your bond account to reduce or settle the outstanding balance.
This structure protects your property while allowing you to prioritise medical treatment and recovery.
Policies typically cover major, life-altering illnesses. While coverage may differ between insurers, commonly covered conditions include:
If diagnosed with one of these qualifying conditions, heart attack bond insurance and other critical illness benefits provide immediate financial relief.
Most dread disease policies include a 90-day survival period. This means:
The survival period ensures that claims relate to confirmed, serious medical events. Once the criteria are met and the claim is approved, the lump sum benefit becomes payable.
When a valid claim is approved under your dread disease bond cover policy:
This payout can fully settle your bond or significantly reduce your monthly instalment burden, giving you peace of mind during treatment.
It is important to understand that once a dread disease benefit has been paid, the policy typically ceases. This means:
This structure ensures the policy functions as a once-off protective safety net for serious medical conditions.
Medical advancements have improved survival rates, but recovery often requires time away from work. During this period, your bond remains due each month. Without protection, homeowners may need to rely on savings, loans, or family assistance.
Bond cover for cancer and other major illnesses ensures:
For many South Africans, a critical illness is more likely than early death during working years. That makes dread disease protection a crucial component of comprehensive bond insurance.
Dread disease bond cover is insurance that pays a lump sum into your home loan account if you are diagnosed with a covered serious illness such as cancer, heart attack, or stroke.
If your insured amount matches or exceeds your outstanding bond balance, it can fully settle the loan. If it is lower, it will reduce the outstanding amount.
The 90-day survival period means you must survive at least 90 days after diagnosis for the claim to qualify.
No. Once the dread disease benefit is paid, the policy typically ceases.
Yes. Most policies include heart attack bond insurance and stroke coverage, provided the medical definitions are met.
Yes. Life insurance pays out upon death, while dread disease cover pays upon diagnosis of a qualifying critical illness.