LIFE INSURANCE
Mortgage Protection
Protect Your Home, Protect Your Loved Ones.
Ensure your family keeps the roof over their heads without financial worries, no matter what happens.
KnowYouCan
Claims Process
1. Download and fill out a claim form.
2. Submit the claim form along with the complete documentary requirements online to ccare@axamansard.com or to the nearest AXA Mansard Office.
3. AXA Mansard will confirm the approval of your request through e-mail or a call.
4. Claim will be settled and received via your preferred channel as indicated in the e-mail or call.
Your home is one of the biggest investments you’ll ever make. With AXA Mortgage Protection, you can rest easy knowing that your outstanding housing loan will be taken care of if life takes an unexpected turn. This decreasing term assurance ensures your loan balance is paid off, protecting your loved ones from financial strain and giving lenders peace of mind.
Benefits
- Loan Balance Protection – takes care of your outstanding mortgage if the unexpected happens
- Family Security – prevents your loved ones from inheriting loan obligations during a difficult time
- Peace of Mind – retains your housing project with your family, free of debt
- Flexible Options – available to both individuals taking out a mortgage and institutions securing mortgage portfolios
Features
- Entry Age: 19 – 65 years
- Policy Term: Matches the mortgage loan tenure
- Payment Options: Single, Monthly, Quarterly, Half-yearly, or Yearly
- Sum Assured: Based on the loan amount
- Optional Riders (at additional cost): Permanent Disability cover, Critical Illness cover and Involuntary Job Loss cover
FAQs
If the borrower passes away during the term of the policy, the policy pays the outstanding principal of the mortgage. This helps ensure that the housing loan is fully repaid, reducing the financial burden on the borrower’s family.
Yes, the policy offers optional riders. The optional riders available are permanent disability, critical illness and involuntary loss of job which are priced independently from the death claims and subjected to their terms and conditions.
No, the policy does not cover default. It will only pay a lumpsum benefit of the outstanding principal loan amount from the date of death to the end of the loan term.
The beneficiary of the policy must always be the financial institution granting the loan.
Premiums for Mortgage Protection Policies are based on factors such as the loan amount, the loan tenure, the interest rate and insured’s age.
