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Home Loan Protector – the home loan safety net
With Home Loan Protector you can relax knowing that your family will be able to live in a paid off house if you die, are diagnosed with a terminal illness, or disabled.
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Here’s what you get

Death benefit
Death benefit

Pay out a lump sum to settle your home loan outstanding balance, and remaining benefit over and above the outstanding balance is paid to your family

Permanent disability
Disability

For temporary disability, you will receive six instalments, while for permanent disability, you will receive a lump sum payout.

Terminal illness
Terminal illness

Get an accelerated Death Benefit if you are diagnosed with a terminal illness.

What you need to know about Home Loan Protector

  • What you get

    The Absa Home Loan Protector is for you if:

    • You want complete peace of mind that your outstanding home loan balance will be taken care of
    • You are worried that you may not be able to carry on with your repayments after being disabled
    • You want flexibility to change the amount for which you are insured or
    • You want to focus on your health without having to bother about your repayments in the event that you are diagnosed with a terminal illness.

  • What you are covered for?

    Death

    • Get a lump sum payment that equals the insured amount that you agreed on, provided that all premiums are paid
    • The Death Benefit covers accidental and natural death

     

    Permanent and Temporary Disability

    • Your home loan repayments are covered in the event you become permanently or temporarily disabled

     

    Guaranteed Insurability

    • Get guaranteed cover when you increase the amount for which your home loan is covered within the first four years on your policy anniversary

     

    Terminal Illness

    • If you are diagnosed with a terminal illness, there will be plenty for you to think about without worrying about keeping your house, so we will pay out an accelerated Death Benefit.

  • Who qualifies?

    You qualify to get the Home Loan Protector cover if:

    • You have an Absa Home Loan
    • Your home loan is less than R2 million
    • You want to protect your family financially by covering any outstanding debt on your property if an unforeseen event happens to you or
    • You want to provide financial security for your family.

Explore our range of home loan solutions

MyHome Loan

MyHome Loan
Loan amount
Up to 110%
Maximum term
20 years

Ideal for applicants who earn a combined income of less than R34 800 a month.*

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First-time Homebuyer

First-time Homebuyer
Loan amount
Up to 110%
Maximum term
20 years

Get 50% off your bond registration fees and finance of up to 110% on your Home Loan.*

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* Terms and conditions apply

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Absa Life Limited is an insurer licensed to conduct life insurance business (I121) and an Authorised Financial Services Provider (FSP 36116). Registration number 1992/001738/06. Terms and conditions apply.

Need more help?

Access our self-service tools.

 

Contact us

Call: 0860 111 007

International: +27 11 501 5048

Email: propertyhub@absa.co.za