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

Features of the Plan

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.

Benefits

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