This insurance is taken out by a lending institution on behalf of a group of borrowers. It is designed to pay off the outstanding mortgage balance in the event of the borrower’s death during the term of the loan. This coverage protects both the lender from financial loss and provides peace of mind to borrowers and their family, ensuring that the home remains secure.

Key Benefits of the Assuria Life (T&T) Ltd Group Mortgage Plan:

• More affordable premiums compared to individual plans
• Death benefit coverage for the insured prior to loan maturity 

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