Mortgage Protection Policy
Pinnacle Life’s Mortgage Protection Policy provides protection against repossession (by the lender) of a property acquired through a mortgage in case of the death of the Life Assured (Mortgagor) or permanent disability, whichever occurs earlier before the loan is fully repaid.
If either of these events happens before the end of the repayment term, the outstanding mortgage balance will be paid in full on behalf of the Life Assured.
Mortgage Protection Policy - FAQs
1. What is the Mortgage Protection Policy?
The Mortgage Protection Policy ensures that if you pass away or become permanently disabled before fully repaying your mortgage, Pinnacle Life will cover the remaining mortgage balance, protecting your property from repossession by the lender.
2. Who is eligible for the Mortgage Protection Policy?
Anyone with a mortgage from a financial institution who is looking for security in the event of death or permanent disability is eligible. This policy ensures that your home is safe even if you are no longer able to make repayments.
3. Does this policy cover permanent disability as well?
Yes, in the event of permanent disability, this policy will pay off the outstanding mortgage balance, just as it would in the event of death, ensuring that your home remains secure.
Interested in Our Mortgage Protection Policy?
Keep your home safe no matter what! With Pinnacle Life’s Mortgage Protection Policy, your home is covered even in the face of life’s uncertainties. Protect your future today!