This is a type of life insurance policy required by lending institutions when you take out a mortgage. Mortgage protection life insurance provides a lump sum in the event of your untimely death. The cover amount reduces over the term of the policy, generally the same term as your mortgage. This is a cost effective form of life insurance. Mortgage Protection can also have some level of serious illness attached to it, which upon diagnosis of certain conditions, could pay off some or all of your mortgage amount.
Are you paying too much for your existing Mortgage Protection Insurance?
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