If you have taken out a mortgage on your home, this is the product for you. It has been designed to ensure that your family will always have a roof over their head even in the event that the unexpected happens.
1. It is a form of decreasing Term Assurance
2. It is used to repay outstanding balance on mortgage when demise occurs
3. Eliminates the risk of one’s family losing its home in the event that you pass on before your home mortgage is paid off
4. Not a substitute for the primary responsibility of the borrower to repay his credit facility when alive
5. The benefits are paid directly to the lender i.e. mortgage institution