Being able to buy a home in today’s tough economic environment is no easy feat. There are high food and fuel costs to contend with, not to mention the high interest rates. The high rate of crime in South Africa is always a major concern. All too often newspaper headlines are filled with stories about home burglaries and attempted break-ins. The chance of being retrenched or left permanently disabled is also an all-too real possibility. This has left many South Africans with no other option but to get home loan insurance.
Absa Home Loan Protector
Absa Home Loan Insurance provides security if something should happen to you and you can’t afford to pay your home loan. This product is ideal if you want to provide financial security for your family.
What does it include?
Death benefit– This is a lump sum payment that is equal to the insured amount that you agreed upon. It covers accidental and natural death.
Permanent and temporary disability benefit- this includes permanent or temporary disablement cover.
Terminal illness benefit
Guaranteed insurability benefit
Absa Homeowners’ insurance
If you have a home loan, having Homeowners’ insurance is compulsory. This type of insurance covers the structure of the buildings of your property, the permanent and fixed fittings, alternative accommodation after an insured event, concealed water pipes and even geyser and maintenance on geyser components.
It’s important to make sure that you’re insured for the right value, namely the current total replacement cost. This type of insurance provides cover for against theft and attempted theft, malicious damage, fire or explosion, acts of nature, damaged geysers or water pipes, impact by vehicles, falling trees and aircraft.
Benefits of getting Absa Home Loan insurance:
- You get peace of mind, knowing that you are covered for any unforeseen events.
- Convenience offered by Absa ensures that the type of cover you get is designed to suit your personal needs.
For more information, visit www.absa.co.za