Buying a home is a dream for all of us. Taking out a mortgage is a major financial commitment. The last thing you want is that the bank takes away your house if for some reason you can't make your loan repayments. It becomes a very bad situation when you cannot repay your mortgage instalment because of any reason (Illness, redundancy or any injury). Mortgage protection insurance ensures that your monthly mortgage instalments are paid during the time you are not able to earn money due to sickness or disability.
How will a Mortgage Protection plan benefit me?
Your insurance company ensures that the mortgage instalments are paid regularly without any interruption, so that you can concentrate on other important things in your life and not worry about of paying your instalments. Your mortgage payments will be made as long as you are disabled or until your return back to work.
Types of Mortgage Protection Plans
Out of work due to illness/disability
Out of work due to redundancy (optional benefit)
Getting yourself covered
We can help you determine the right Mortgage Protection plan for you and your family. Our advisers review your needs and provide you with an unbiased suggestion, which specifically suits your needs. The adviser will give you a free competitive quotation from major providers in the market and will assist you through the entire signup process. Our advisers can help you with cost v/s benefit analysis of your existing insurance as well.
Quick Tips
Reduce your premiums by choosing a longer wait period.
Premiums will be reduced when you choose a shorter payment term
