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.

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

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customercare@prudentialzenith.com
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Prudential Zenith Life is part of Prudential plc. Prudential plc, incorporated and registered in England and Wales. Registered office: 1 Angel Court, London EC2R 7AG. Registered number 1397169. Prudential plc is a holding company, some of whose subsidiaries are authorized and regulated, as applicable, by the Hong Kong Insurance Authority and other regulatory authorities. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

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