life

Group Mortgage Assurance Plan

Mortgage protection is a decreasing term assurance policy that covers the life of a person who has taken
a mortgage. The amount of the benefit decreases in line with the mortgage amount, as the mortgagor makes periodical loan repayments.

  • Covers loans on a reducing balance or on declaration basis
  • Premium based on total loan, age and repayment period.
  • Provides cover to joint mortgages on a first death basis
  • Premiums are paid annually in advance based on outstanding period and amount.
  • The Policy is not subject to an AIDS Exclusion clause.

Cover is open to members aged between 18 to 65 years