Frequently Asked Questions

Set out below are some questions frequently asked by clients about the oobainsure Bond Protector. Should you have any additional questions, please feel free to contact the ooba Insurance Helpdesk on 0860 00 66 22.

What benefits are offered under the ooba Bond Protector Plan?

The product offers the following benefits:

• Accidental death benefit, applicable between bond grant and bond registration;
• Death benefit (covering natural and accidental death) after bond registration;
• Temporary disability benefit;
• Permanent disability benefit;
• Retrenchment benefit (not applicable to self-employed persons);
• Premium waiver benefit;
• Dread Disease benefit.

Can I choose to have some of the benefits and not others?

Yes, the product is flexible; you can select from a choice of benefit options as follows;

• Death; 
• Death & Disability (Premium Waiver included); 
• Death & Retrenchment (Premium Waiver included);
• Death & Dread Disease;
• Death, Disability, Retrenchment (Premium Waiver included);
• Death, Disability, Dread Disease (Premium Waiver included);
• Death, Retrenchment, Dread Disease (Premium Waiver included);
• Death, Disability, Retrenchment & Dread Disease (Premium Waiver included).

You can select which benefit option best suits you. The only exception to this is in regard to self-employed people, who will not be able to be covered for retrenchment.

How are the Monthly Premiums Calculated?

The following criteria determine your monthly premium:
 - age
 - gender
 - income
 - smoker status
 - educational level

Will I be required to go for medicals before I am accepted for cover under the policy?

You will be accepted for cover, free of any medical evidence, for cover up to and including R1 250 000. Please note however that there is a pre-existing condition exclusion under the policy. What this means is that if you have a medical condition that you are aware of (or ought reasonably to have been aware of) for which you received treatment or consulted  a medical professional in the 2 years prior to the commencement date of this policy, then this condition will be excluded for the first 2 years of the policy.

You will be afforded the opportunity to go for medicals, at the Insurer's expense, after the policy commences in order to have this exclusion removed. If the results of this medical evidence are favorable, the Insurer may remove the pre-existing condition exclusion from your policy.

Is cover offered for joint lives?

The second life assured is able to obtain full cover for all benefits. The 2nd life will receive a 20 % discount on the death cover benefit. There is no specific discount to the 2nd life for the Disability, Dread Disease or Retrenchment benefits, however the 20 % discount on death will be carried through to all benefit combinations. The 2nd life can also elect a different benefit selection to the 1st life.

If I do not make a claim throughout the entire term of the policy, will there be any refund of premium or surrender value paid, when the policy ceases?

No, the policy is a risk only policy. There is no investment element to the policy. If there is no claim paid during the term of the policy, there will be no refund of premiums, or return of any surrender value.

Who should I contact if I have a query regarding my policy?

You should contact the ooba Insurance Helpdesk on 0860 00 66 22.
Alternatively you can e-mail your query to myinsurance@ooba.co.za