What is a Mortgage Reducing Policy?
To own a land or a house has become everyone's dream. To make it a reality, obtaining a loan has become a regular occurrence. In the event of unfortunate demise or total permanent disability of the insured, the balance amount of the loan taken from a bank or financial institution will be settled by a Mortgage Protection Policy.*
People who wish to buy a house, renovate a house or buy a land on a loan from a bank or a financial institution.
What are the benefits of the policy?
- Balance loan amount will be settled in the event of sudden demise or permanent disability of the person who obtained the loan.
- In the event of sudden demise or permanent disability of either party of a joint loan, the balance loan amount will be settled.
- Special premium rebates for females and non smokers.
- Policy can be obtained with a single premium payment.
More information can be obtained from the nearest HNB Assurance Branch or from our 24 hour Customer Relation Center on 011 4 883883
* Conditions apply as per regulations.