Mortgage Redemption

  • Specially designed plan to meet the requirements of the individual who seeks to ensure that all his outstanding loans and debts are automatically paid up in the event of his demise.
  • The proponent will have to bear the cost of the mandatory medical examination.
  • The policies are usually issued only to male lives aged 50 years or lesser.
  • The policies are subject to a condition that the insurance cover would not extend beyond 65 years.
  • All loans must be liquidated by the time the borrower attains the age of 65.
  • The policies bear no surrender value.
  • LIFE COVER: All outstanding loans declared at the beginning of the financial year would be payable as per the prepared schedule.
  • As this is a pure term plan, No Maturity benefits are available.



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