Mortgage Protection Insurance

Mortgage Protection Insurance is a type of insurance that will cover any outstanding property loan amount if you’re unable to do so (death or total permanent disability).

Having a mortgage assurance policy will give you the peace of mind that in case anything happens to you, your dependents will not be burdened with settling your housing loan. This is especially important if your family is still staying in the property that’s in the midst of being repaid.

In these unfortunate circumstances, at least your family can continue staying in the house without the added burden of having to continue servicing the loan. Without this, the provider of the insurance, also known as the lender, will repossess your property and auction it off if your family fails to repay the remaining balance on the loan.

Is Mortgage Protection Insurance for You?

• It is highly recommended if you are the sole breadwinner of your family and have several dependents.
• If you intend to keep the property for the short term or use it for investment, then it is the best policy as it is easily transferable.

STEP BY STEP TO APPLY FOR MORTGAGE PROTECTION INSURANCE