AFFORDABLE MORTGAGE PROTECTION:
Mortgage Protection is, as the name would suggest, intended to be used to safeguard repayments on a mortgage in the event of death. More specifically, they are useful for those who have repayment-type mortgages (you can also look elsewhere on this site for more details on this). Mortgage Protection Plan life insurance can generally be arranged on a term of up to 35 years, and from as little as three or four years. During this period of time, the amount that would be paid out is reduced incrementally. The amount by which it is reduced is set at a fixed rate at the beginning of the term, and should be relative to the amount by which your mortgage debt will be reduced over the life of the policy through repayments.
FREE Benefits – Each Policy comes with following benefits at NO Cost
- Terminal Illness Benefit - An interest-free loan may be provided for an insured who becomes terminally ill. The total loan can be up to $250,000 or 75% of the total amount of the life insurance on that insured, whichever is lowest.
- Legal Link Advice - Access certain free and discounted legal services in your area. Connect with lawyers for help with a variety of issues including wills, home ownership and family law.
- Orphan Benefit - A monthly payment for orphans, which pays $900 per month per child to the legal guardian for children under 18 upon the death of both Parents.
- Competitive Scholarship Benefits - to qualifying insured kids for higher studies, worth upto $11,000. Also available - Orphan Scholarships - the scholarship benefit that provides the children of deceased insured with a renewable higher learning scholarship of up to $6,000 per year for up to four years to cover tuition and maintenance, to learn more -- discuss with our licensed advisor.
