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Enhanced Mortgage Protection Cover

Get your first three premiums at no cost to you

Settle your home loan with Enhanced Mortgage Protection Cover if you pass away or become permanently disabled, and cover the monthly interest charged on your home loan for up to 24 months if you are temporarily disabled.

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Mortgage protection insurance for your home loan 

Your home loan is a meaningful part of the wealth you’re building. It’s a place where families are raised, and memories are made. Isn’t that something worth protecting?

If something happens to you, conventional life cover can settle the bond, but the payout usually goes through your estate or a nominated beneficiary first, which can delay settling the loan, while interest and repayments continue. Enhanced Mortgage Protection Cover settles your home loan directly with the bank, so your family keeps the home without unnecessary costs or delays. Read more.

Our first to market cover settles the outstanding balance on your home loan if you pass away or suffer from an illness or injury that leaves you permanently disabled.  

How it works
First three premiums at no cost

Investec Bank Limited will cover your first three premiums with Investec Life. Thereafter, your monthly premium will be debited from your nominated bank account.  

Save in the long run

Cover and premiums auto-adjust every month, saving you up to 50% over the term of your policy compared to traditional life insurance policies on the market.

Get cover in minutes

Applying is an easy digital-only process, and most clients do not require medical testing. You can get a quote or apply online through Investec Online or the App today.

Enhanced Mortgage Protection Cover Brochure PDF 1.1 MB

The video on this page contains factual information and should therefore not be regarded as financial advice.

Get a quote or apply now

If you are an Investec Private Banking client, you can get a quote or apply for our life insurance solutions via Investec Online or the Investec App. Simply navigate to the "Insure" tab in the main menu to get started.

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FREQUENTLY ASKED QUESTIONS
What is Enhanced Mortgage Protection Cover?

Enhanced Mortgage Protection Cover is designed to settle the outstanding balance on your Investec Private Home Loan if you pass away, or if an illness or injury leaves you permanently disabled.

If you’re unable to work due a temporary disability, this benefit covers the interest charged on your home loan (for up to 24 months).

If you have an Investec Private Bank Home Loan, your first three consecutive premiums on a new policy will be funded by Investec Bank Limited.

Who qualifies for Mortgage Protection Cover?

Mortgage Protection Cover is available to Investec Private Home Loan clients who are under the age of 70 when applying. To qualify for the optional Accelerated Disability Cover benefit, you must be under the age of 60. Cover is granted subject to the application and underwriting process.

When can my Mortgage Protection Cover begin?

You can choose from three commencement options:

  • Immediate cover for an existing Investec Private Home Loan.
  • Immediate cover for a new home loan while the bond is being registered.
  • Cover that begins once the new home loan has transferred into your name.
What will my monthly premium be?

Your monthly premium will be confirmed once you have completed the application process. Cover is granted subject to underwriting.

How do my cover and premiums adjust as I repay my home loan?

Your cover and premiums automatically adjust each month in line with the outstanding balance on your Investec Private Home Loan. This means you pay for cover based on the remaining home loan balance. Premiums are also age-rated and are not guaranteed, so they may increase at your annual policy anniversary, particularly if your home loan balance has not reduced.

Am I able to cancel this policy?

Even if you apply for Enhanced Mortgage Protection Cover during the offer period (the first three months), you can cancel this benefit at any time by contacting Investec Life.

Does Mortgage Protection Cover provide for permanent and temporary disability?

Standard Mortgage Protection Cover only settles your home loan in the event of death.

Enhanced Mortgage Protection Cover settles your home loan in the event of death and permanent disability. Additionally, if you’re unable to work due a temporary disability, this benefit covers the interest charged on your home loan (for up to 24 months).

How long does Enhanced Mortgage Protection Cover last?

Enhanced Mortgage Protection Cover is designed to provide protection for the duration of your Investec Private Home Loan. Your cover automatically adjusts as your outstanding home loan balance, ensuring you only pay for the cover you need.

What is the difference between mortgage protection cover and life cover?

While both products provide financial protection, they serve different purposes. 

Life cover is a lump sum payout to your beneficiaries in the unfortunate event of your death. It provides immediate and long-term financial support to your family, helping them manage costs and stay financially stable. 

Enhanced Mortgage Protection Cover settles your outstanding home loan balance in the event of your death or permanent disability. It is designed to help protect your home and reduce the financial burden on your loved ones should you no longer be able to meet your home loan obligations.

Is Enhanced Mortgage Protection Cover mandatory for Investec home loans?

No, Enhanced Mortgage Protection Cover is an optional benefit that will ensure your home loan is appropriately protected.

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Statutory information and disclaimer

Investec Life Limited, a member of the Investec Group, is a licensed Life Insurance Company (Reg.No. 1944/017130/06) and an authorised Financial Services Provider (FSP number 47702).

With the Protection of Personal Information Act in effect, please take a moment to review Investec’s Data Protection Statement so that you understand how Investec processes your personal information and the rights you have in relation to your personal information

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