MORTGAGE PROTECTION ASSURANCE
Mortgage protection policy offers cover in respect of outstanding Mortgage balances from the insured. This policy may be a long-term contract running from 5 to 20 years issued on a decreasing term basis as the outstanding amount of the original debt reduces over time to repayments by the debtor.
The Insurance Company is liable to pay only the outstanding amount of the loan to the creditor.
Age Limit:
Life assurance cover is provided from ages 18-60.
Premium Payment:
The policy is effected by the payment of a single premium calculated based on a percentage of the capital sum assured.
Benefits:
