“Your home is usually your most expensive asset,
but maintaining a home can be expensive, and when
unplanned events occur, it’s incredibly beneficial
provides comprehensive cover in the event of death,
disability, dread disease or retrenchment.”
to have this kind of insurance as a lifeline,” says
Your bank may not insist that you have this type of
Young. “This is why banks make it compulsory – cover, but Young advises you consider it, nonetheless.
they are safeguarding your
“No one likes to think of bad luck
asset.”
“There are two main types befalling them, but if something
bad does happen to you, the best
of insurance that a
Bond protection insurance
outcome is that you or your family
Of course, when you consider homeowner should have.” won’t lose your home,” he says.
buying a property, you work
out whether you can afford the repayments – and
What it costs
if you’ve had your bond approved, obviously your When you’re buying a house, the last thing you want
bank thinks so too. But both you and your bank
on your plate is an extra expense. Just remember that
have to count on you remaining employed and in a small monthly payment now can save you from
good health.
enormous financial strain later. But of course, you’ll
want to know exactly how much it will cost you and
“It is very important to consider what would whether you’re getting the best deal.
happen to you