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.
| Terms & Conditions | ||
| Minimum entry age | 18 next birthday | |
| Maximum entry age | 60 next birthday | |
| Maximum expiry age | Policy anniversary prior to 80th birthday | |
| Benefit Expiry age | Policy anniversary prior to 65th birthday | |
| Term | Matches the term of the bond | |
| Instalment Protector options | 24 months or full term | |
| Minimum sum insured | R100 000 | |
| Minimum monthly premium | R75 a month | |
| Loans | No loan facility will be available | |
| Surrender values | None | |