Recognised and accepted by mortgage lenders nationwide.
It helps you keep your home and protect your family financially if life happens to you.
Covers damage to another’s property up to 3 million Naira
Your loan is subject to Reducing Balance Depreciation, which is a way of calculating depreciation where loan payments decrease over time as more of the loan is paid off.
The policy covers death and can be extended to cover critical illness, total and permanent disability resulting from an accident.
Completion of the Leadway proposal form
Completion of comprehensive medical examination test at a Leadway designated hospital
Offer letter (i.e. loan agreement)
Financial questionnaires to be filled and returned by the Life Assured
Recent 6 months Bank Statement of Assured/Life Assured
Proof of Age (Birth Certificate or Sworn Affidavit)
Evidence of premium payment
Does the plan pay off all the debt in the event of illness or death?
A: The plan only covers debt outstanding as at the time of death.
Q: Can this insurance cover more than one property?
A: Yes, it can cover multiple properties.
If I’m unable to pay but I am alive and well, am I still covered?
A: The plan only covers debt outstanding as at the time of death.
Q: What happens if the loan period is being extended?
A: The mortgage cover can be extended to match the new loan term, ensuring continued protection during the extended period.
Q: What happens if I lose my job and I’m unable to pay the loan?
A: The insurance company is only liable to pay off the loan if the policyholder passes away during the loan period. Loss of employment is not covered under this policy.
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