Mortgage Life

Mortgage Life provides coverage for mortgage institutions against the death or total permanent disability of the borrower. This product ensures that the mortgage company is not saddled with the challenge of pursuing assets of deceased or disabled defaulters, but are reimbursed the outstanding loan amount by miLife. This mortgage protection policy also provides comfort to the borrower that their assets are protected from being repossessed by the mortgage company.
Who is this policy for?

Mortgage institutions that want to ensure that their loans are recouped even when the borrower becomes deceased or disabled.

Cover and Benefit

The policy covers deaths and total permanent disability of borrowers. The level of cover is the mortgage on the property and a lump sum payment of the outstanding mortgage will be made to the mortgage institution.

Interested in this policy? Have questions?

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