Mortgage Related Term Plan
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Features
- A plan that provides life cover against a mortgage or personal loan
- The Life Cover decreases over the term of the Contract mimicking the outstanding loan balance
- Participant has to pay the contributions only during the first two-thirds of the term
- The death benefit is equal to the payout that corresponds to the outstanding balances under a mortgage of either 9% or 12% interest rate, which is selected at the time of plan inception
Eligibility and Limits
- Ages at Entry: 18 to 65 years
- Maximum Age at Maturity: 70 years
- Term of Coverage: 1 to 40 years
- Minimum Initial Life Cover: USD 50,000 (BHD 20,000)
