Loan Insurance
Mortgage loan insurance is an individual or group insurance contract that protects you and your family, as well as the bank financing your property purchase. If you are no longer able to repay your loan, the insurer takes over.
Loan insurance covers the risks of death, total and irreversible loss of autonomy (PTIA) and work stoppage in the event of disability or incapacity.
In the event of the borrower’s death or disability, the insurer reimburses the lender for the outstanding loan capital. The same applies to permanent total disability (IPT) in many contracts.
In the event of permanent partial disability and incapacity, the guarantees cover the repayment of loan instalments.
Levels of cover are specific to each loan insurance contract.