Mpepu Bond Cover
Secure your home, for your family. (Ts and Cs apply)
Ensure peace of mind for you and your loved ones with our comprehensive Mpepu Bond Cover plan.
This policy provides financial security by covering the outstanding mortgage balance in case of unforeseen circumstances, offering additional benefits to help you focus on what matters most. By choosing Mpepu, you’re securing a reliable and compassionate support system for your family’s future.What is covered?
Coverage includes financial support for the Main Life Insured and the Main Life’s spouse, ensuring that the financial burden of mortgage repayments is alleviated during difficult times.
Death
Upon the death of the Life Insured, an amount equal to the outstanding loan balance will be paid.
add-on
Permanent Disability
Upon permanent disability of the Life Insured, an amount equal to the outstanding loan balance will be paid.
add-on
Critical Illness
Upon diagnosis of a specific illness, a lump sum will be paid as per the terms and conditions.
Additional benefits
Cash back bonus
Every 5 years, if no claims have been made, a cash lump sum equal to 10% of the
total premiums paid will be returned. This bonus rewards policyholders for maintaining
their coverage and offers a financial benefit for their commitment.
Premium waiver
Unemployment and pregnancy: Waiver of premiums for the cover for up to 6 months
should the first life insured become pregnant and go on unpaid maternity leave or be
retrenched or lose his or her job.
Loss of job excludes any voluntary loss of work, dismissal as a result of dishonesty or misconduct
Premium update option
Policyholders have the option to increase their coverage by updating
the premium annually by 5%. The coverage amount will increase by 4% accordingly, allowing for gradual
enhancement of benefits in line with inflation and changing needs.
No waiting periods
There are no waiting periods for death, permanent disability, or critical illness benefits,
ensuring immediate coverage from the start.
Who is covered?
Main life insured and main life’s spouse
The primary beneficiaries of the policy, ensuring that both receive
financial support in case of death or disability.
Additional details
Age of entry
- Minimum: 21 years
- Maximum: 70 years
Termination age
- Death benefit: 75 years old
- Permanent disability: 65 years old
- Critical illness: 65 years old
Why choose Mpepu Bond Cover?
Choosing Mpepu’s Bond Cover means selecting a policy designed to provide extensive support during life’s most challenging moments.
Our focus on transparency and comprehensive
coverage ensures you are well-informed and well-protected. With benefits like premium waivers
and cash-back bonuses, Mpepu offers unmatched value and peace of mind.
Limits of cover
- Minimum term: 5 years
- Maximum term: 30 years
- No medicals/underwriting required for cover of P1m or under P1m .
- Medicals/underwriting required for cover over P1m .
Because family is life. Insuring you & everyone you love.