MORTGAGE INSURANCE

It is a life insurance policy that pays the balance of your mortgage to the lending institution if a person listed on the mortgage passes away.

Purchasing your dream home is often the single largest purchase a person makes in their lifetime. But in times of unpredictable circumstances if you were to die, become critically ill, suffer an accident house mortgage falls on the family members.

You can protect your family member’s financial burden with Mortgage Life Insurance.

Benefits of Mortgage Life Insurance

To protect your assets and to cover your liabilities. It is always a wise decision to buy mortgage insurance along with your Home. If you die, get a life-threatening illness, or suffer an accident, your Mortgage Life Insurance can pay the following benefits –

• Your entire outstanding mortgage principal amount.

In the case of an illness which has been diagnosed as fatal within one year, this insurance offers an early pay-outto help relieve financial concerns. For additional security, the same protection is also available to your co-borrowers or to the guarantor(s) of the mortgage.

Coverage for your mortgage can start on the date your mortgage is approved. This way, you are protected even before your new purchase closes.

Differences between a Mortgage life insurance vs. individual life insurance

Sahib Insurance advisor will help you to choose best available policy in the market.