Mortgage Protection Insurance
An Extension of the Loan Protection Policy (LP250)
Mortgage Protection Insurance is a group life insurance policy that ensures your mortgage is fully paid in the event of your death during the mortgage term. This policy aligns with the duration of your mortgage, providing continuous coverage throughout its lifecycle.
Coverage limits are determined through agreements with individual Credit Unions, offering flexibility to meet the specific needs of members.
Mortgage Protection Insurance
An Extension of the Loan Protection Policy (LP250)
What is Mortgage Protection Insurance?
Mortgage Protection Insurance is a group life insurance policy that ensures your mortgage is fully repaid if you pass away during the loan term. The policy duration mirrors the length of your mortgage, providing seamless coverage throughout.
Who is Eligible?
Credit Union members with loans exceeding the maximum coverage limit under the standard Loan Protection Insurance package may qualify for this extended coverage.
How Does It Work?
• Your Credit Union sets the maximum coverage limit based on its risk tolerance.
• Loans are covered up to the limit agreed upon between you and your Credit Union.
Why It Matters
Protect your loved ones from financial strain by ensuring your mortgage is paid off in the event of your passing.
Next Steps
Speak with your Credit Union today to learn more about Mortgage Protection Insurance and see if you qualify.
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Contact Details
- - P: (767) 440-9052 / 7
- - E: [email protected]
- A: 13 Castle Street, Roseau, Commonwealth of Dominica