Mortgage Protection Plan

This is a scheme designed to secure Mortgage loan holders against the financial risk of death/permanent disability or critical illness before the repayment of amount owed.

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It serves the purpose of protecting policyholders’ dependents from the financial consequences of the inability to repay the outstanding Mortgage as a result of the death/permanent disability or critical illness of their breadwinner.

  • It helps Banks and other financial institutions manage their loan portfolios
  • It protects policyholders’ dependents from the financial consequences which may arise as a result death/incapacitation of the borrower and the resultant inability to repay the loan
  • It gives peace of mind to both the life assured and the financier
  • The product is designed to secure Mortgage loan holders against the financial risk of death/critical illness before repayment of amount owed.
  • Loan covered by this contract is long term mortgage loans with minimum term of 5 years and Maximum term of 30 years.
  • The policy duration will be equal to the term of the loan taken subject to a minimum of 5 years.
  • The Sum Assured under the contract is the original loan amount taken from the mortgage institution.
  • Only single and annual premium payment is allowed under the contract.
  • The policyholder will have the option of adding Loss of Job Benefit.
  • The minimum age at entry is 20 years while the maximum entry age is 60 years
  • The maximum age at maturity is 65 years.
  • The financial institution is the first loss payee.
  • It helps Banks and other financial institutions manage their loan portfolios.
  • It protects policyholders’ dependents from the financial consequences which may arise as a result death/incapacitation of the borrower and the resultant inability to repay the loan.
  • It gives peace of mind to both the life assured and the financier.

Call Us

234(0)12784555 / +234(0)12785500
07040021123 (WhatsApp and Text only)

Email Us

customercare@prudentialzenith.com
claims@prudentialzenith.com

Visit Us

13th Floor Civic Towers, Ozumba Mbadiwe Road, Victoria Island, Lagos, Nigeria