Mortgage protection insurance provides the following benefits:

Life cover

Life cover will be equal to at least the amount of mortgage debt is a good idea to have on all parties to the loan. This means in the event of the untimely death of a borrower, there is sufficient cover to repay the loan and leave the surviving borrower with a debt free home.

Monthly mortgage repayment cover

Monthly mortgage repayment cover will meet your mortgage payments in the event that you are sick and unable to work. This benefit has a waiting period and is then paid until you return to work and could be paid until age 65 if you are unable to ever work again.

Redundancy cover

Redundancy cover can be included in your cover to provide some assistance if you lose your job.

Trauma cover

Trauma can happen to anyone at any time and can have a major impact on your financial situation. In addition to the most common conditions such as heart attack, cancer and stroke, there are approximately another 40 conditions that can trigger a trauma claim. This will pay out a lump sum that will help offset the costs of medical care and replace lost income.