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ABSA Home Loan Insurance

ABSA home loan insurance program offers protection against all kinds of damage and provides accidental death cover, vehicle insurance, home insurance and so on. A house is the most valuable asset owned by an individual and protecting the same from any kind of harm is the duty and the responsibility of the home owner. People invest a lot of hard earned money to buy a property. They take loans from different financial institutions and are indebted to the bank till they repay the loan amount. The ABSA bank understands the psyche of the loan borrower and that is why it has offered protection programs for the same.

ABSA Home Loan Insurance Program

The insurance program offered by the ABSA bank is only to protect your valuable investment. Apart from providing financial assistances to its customers it also provides peace of mind. It is not possible to predict the future and nor can we stop any unlikely event from taking its course. All we can do is be prepared and protect the house. Thus the insurance program protects the home owner as well as his priced home. The ABSA bank home insurance offers protection to the following products in the house:

  1. Structure of the house
  2. Garage
  3. Lightings, cupboards and other fixed fittings
  4. Wooden flooring
  5. Non movable fixtures such as built in fireplaces
  6. Fixed carpets
  7. Electronic equipment such as alarms and CCTV
The ABSA home loan insurance program offers protection against the following:
  1. Lightning, explosions and fire
  2. Bursts from geysers or pipes
  3. Damage due to leakage of water
  4. Floods and storm cover
  5. Earthquakes

The ABSA life insurance offers protection for new as well as existing customers of housing loan. The bank's life insurance is offered for portions of a loan amount if the borrower suffers from serious illness, involuntary unemployment, any kind of disability or even at death. At any of the above mentioned happening the bank pays a lump sum amount to the borrower as compensation charges. This amount does not exceed the amount insured in case of death or any permanent disability of the borrower. In case of involuntary unemployment, the bank would pay your home loan till you start working again.

For more details on the ABSA home loan insurance program or policies, you can visit their official website: http://www.absa.co.za/ .


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