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Anonymous
Also mortgage insurance has different interest rates calculation, how does it affect the total premium and coverage?
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Hariz Arthur Maloy
06 Jul 2019
Independent Financial Advisor at Promiseland Independent
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Single or Joint Life
POLICYHOLDER OPTIONS
Amount of Housing Loan
MAX SUM ASSURED
10 years
POLICY TERM
75% of policy term
PREMIUM TERM
1% to 7&
INTEREST RATE
5.0
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Haven't seen a group mortgage policy yet but the same cons apply to group policies.
1) You don't own the policy.
2) T&Cs can change without your discretion.
3) Premiums can change for better or worse.
4) You might not be able to carry on the policy after leaving the "group".
Pro:
1) Cheaper.
For anything as important as leaving a huge liability that you know your family won't be able to handle, make sure you have full control and rights to the insurance policy meant to help you out.
Just get a private policy.