Are you interested to learn about the Absa home loan protector insurance in South Africa? Read through this guide to learn.
This insurance ensures that your home will remain a haven and a happy place even when you are no longer there.
This insurance is similar to term insurance to insure your life such that if anything happens to you, your family will be financially secure.
We will show you why you need this insurance in South Africa.
Why You Need Home Loan Protector Insurance In South Africa
If you have an Absa home loan, you must take insurance to protect your loan.
This insurance is essential to protect your family financially by ensuring that the outstanding debt will be covered should anything happen to you.
If you want to provide financial security to your family, then this insurance is your best option.
These are the reasons you need a Home Loan Protector Insurance in South Africa.
Absa Home Loan Protector Insurance In South Africa
The insurance includes benefits from various Absa life products to cover your home loan repayments in the event of death, disability, or terminal diseases.
The insurance offers you a death benefit for both natural, accidental deaths.
You get a permanent and temporary disability benefit.
You are guaranteed an insurability benefit without providing medical evidence when you want to increase the insured amount.
You get a terminal illness benefit if you are diagnosed with a terminal illness like cancer.
This is what is covered by the Absa Home Loan Protector Insurance in South Africa.
What You Need To know
You need to have enough funds in your home loan account to ensure your policy remains active.
You can choose to make a lump sum payment of the insurance premiums or opt for monthly premiums.
You do not get the benefit of advice or a full financial needs analysis, so you need to consult a financial adviser before you settle on the insurance.
This is all you need to know about Absa Home Loan Protector Insurance in South Africa.