Let's Talk: Bond Insurance

No, it is not. Bond insurance is voluntary, however, in some instances the bank would require the bond insurance to be compulsory, along with the mandatory building insurance. However, bond insurance gives you peace of mind that you and your loved ones are covered should an unforeseen circumstance arise. Bond Insurance gives you and your family peace of mind that future repayments can be met during times of unforeseen financial difficulty.

For more info on Bond insurance view the full artcle here from ooba Homeloans: https://www.ooba.co.za/faq/is-bond-insurance-compulsory/