Mortgage Protection Assurance
Features:
The Mortgage Protection Assurance (without profits) plan is designed to meet the requirements of the policy holding individual who seeks to ensure that all his outstanding loans and debts are automatically paid up in the event of his demise.
Under the Mortgage Protection Assurance (without profits)
The proponent will have to bear the cost of the mandatory medical examination.
The policies are usually issued to both male and female lives aged 50 years or lesser.
The policies bear no surrender value.
Suitable For:
Middle-aged to elderly professionals whose dependents might need assistance in clearing their debts in case of their unexpected demise are most suited for the Mortgage Redemption Assurance policy.