Group Mortgage
Overview
This is designed to pay off the outstanding Mortgage in the event of death or total and permanent disability of the borrower. The beneficiary is usually the lender or the financial institution
Features & Benefits
- Pays the deceased’s outstanding loan in the event of death
- Alleviates financial strain on the deceased’s dependants.
- Protects the lenders or financial institution reputation
Requirements
- Details of the company: company registration, KRA pin
- Total number of members in the institution
- Mortgage Loan balances
Eligibility
Age 18yrs- 65yrs.
Above 65yrs to be considered subject to medical examination.
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