Insurance for people who want to be sure that in the event of death or serious illness, the insurance company will repay the mortgage debt.
This is a policy which will pay the mortgage in the event of one of the borrowers’ death.
Depending on the policy there are decreasing and level options.
This type of policy can also include an additional option of critical illness which will help to pay the mortgage in total or in part if you were diagnosed with a serious illness such as cancer, heart attack or stroke.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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