Mortgage Creditor Life Insurance
Settlement is made to the lending institution for the repayment of mortgage. The coverage is for the outstanding principal.
- Repayment of mortgage loans in the event of death or permanent disability of an insured mortgagor
- Coverage of up to three lives on any mortgage loan
Calculation of Premium
Premiums are based on a schedule of rates and are payable on a monthly basis.
Principal balance is paid to lending institutions.