Mortgage Protection

Ensuring your home remains a secure asset for your family by covering outstanding mortgage balances in unforeseen circumstances such as death or critical illness.

Service Details

Protecting Your Biggest Investment

Building or buying a home is the single biggest investment in a person's lifetime, typically acquired through mortgage loans from employers, banks, or financial institutions. Our Mortgage Protection policy provides an inexpensive method of life assurance cover designed specifically for this purpose.

If a mortgage loan is not fully repaid before the death of the policyholder, dependents face the risk of foreclosure by the mortgagor. This policy protects against such a disaster by providing a payment to offset the outstanding capital sum within the loan term, ensuring the home remains secure for the family.

  • Policy Term: Flexible terms ranging from 10 to 25 years.
  • Premium Factors: Your age, the sum assured, and the policy term determine the final premium.

Why choose Mortgage Protection?

  • Guaranteed settlement of remaining mortgage balance
  • Protects grieving families from potential foreclosure or eviction
  • Reduces financial burden during critical illness or disability
  • Easily assigning the policy to cover new banking institutions
  • Fixed premiums allowing better financial planning

Documents Needed for Processing

  • Official Mortgage Agreement from Lender
  • Valid National Identification
  • Comprehensive Medical Examination (if exceeding limits)
  • Proof of Income / Employment
  • Completed Mortgage Protection Proposal Form

Frequently Asked Questions

In a mortgage protection policy, the primary beneficiary is typically the lending bank or financial institution holding the mortgage.

Yes. If you switch lenders, the policy's beneficiary can be reassigned to the new lending institution without restarting the coverage.
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