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Question
Posted by: Nkunzi | 2013/02/14

Life Insurance - Bondability

Beware of the exclusion on the Bondability life cover before taking it:
Life Cover
" If the insured life dies within 24 months of commenecement due to any condition, physical defect, illness, bodily injury or disability which the insured was aware of and/or received MEDICAL ADVICE OR TREATMENT during the 24 months prior to the commencement date, or date of reinstatement etc, no claim will be paid and ll premiums paid will be forfeited" . This one is pretty standard and straight forward just make sure you dont die within the 24 months exclusion period.

Disability Cover - For instalment protection

" If the insured life becomes disabled while the policy is in force due to any condition, physical defect, illness, bodily injury or disability which the insured was aware of and/or received MEDICAL ADVICE OR TREATMENT during the 24 months prior to the commencement date, or date of reinstatement etc, no claim will be paid and ll premiums paid will be forfeited" . This one i have a problem with due to the following

1. It does not have a set period for the exclusion meaning after 24 months the exclusion won''t apply.

2. My understanding also is that if you had seen a doctor 24 months prior to commenecement then and received medical advice/treatment your claim won''t be paid. We see doctors for our tests at least once or twice a year even more for some.

In a nutshell i think don''t take the disability portion because you have been disqualified before you even started.

Sorry for the long boring mail i couldn''t do it shorter than this.

Ciao for now!!!

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2
Our users say:
Posted by: Nono | 2013/02/19

Hi Guys

Thank you for the info.

first time I hear about Bondability, + - how much are you guys paying (premiums) compared to All Life? I also need a home loan urgently but hey All Life iya khokhoza.

Reply to Nono
Posted by: Mommy | 2013/02/15

It is tried and tested on this site we have been harping about it for almost 5 years and there are people who even died whilst on it and they paid. So thanks for your diligence but just call them today, you need them more than they need you.

Reply to Mommy

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