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What is Mortgage Protection Insurance?

If you pass away, Mortgage Protection Insurance pays off your mortgage to your lender. It is actually extremely beneficial because it removes a huge financial strain from your family.

Now, keep in mind that, in spite of what anyone may tell you, you only need mortgage protection if you’re buying a home with a new mortgage loan. For a mortgage application, you are not obligated to have other life or serious illness insurance.

 

Read more:

  1. 1. How Much is Mortgage Protection Cover?
  2. 2. What is a Mortgage Protection Premium?
  3. 3. Where Can I Buy Mortgage Protection Insurance?

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Mortgage Protection

Repays mortgage if the insured dies or suffers a terminal illness.

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Life Insurance

Ensures the financial stability of the family if the insured dies.

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Life & Serious Illness cover

The insurance plan gives coverage against specific diseases.

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Income Protection

Ensures a regular income for the insured who is unable to work.

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Whole of Life cover

If you are looking for a life cover plan with a guaranteed payout then a Whole Of Life Cover Plan is just for you.

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