Bond Insurance is voluntary, but some lenders require Bond Insurance to be compulsory. Bond Insurance gives the homebuyer peace of mind that his/her loved ones are covered when unforeseen circumstances appear, that the home loan repayments are paid and no financial difficulty will be suffered. Bond Insurance covers the policyholder’s outstanding home loan amount in the event of death, serious illness, temporary and permanent disability or retrenchment (options are flexible). Depending on the type of cover the policyholder opted for, the outstanding loan can be either settled or the monthly repayments made. GetGo Home Loans also offers homebuyers an option for this cover – the GetGo Home Loans Specialist will discuss these options and the process with you during the interview.