Home loan protection plans are a vital tool for managing the risks associated with borrowing. These plans provide financial security, peace of mind, and stability for both borrowers and lenders, making them an important consideration in any loan agreement.
This Plan is designed for protection where a decreasing lump sum is required to provide financial support in the event of death, as in the case of a mortgage repayment or other loans where a debt is repaid over time.
The insurance cover decreases annually throughout the period of insurance
Decreasing term may be used where liabilities reduce over time as in the case for a mortgage
It pays a sum, dependent on year of claim to the lender upon the death of the Life Insured that occurs during the term of the policy
Decreasing term is less expensive than a level term policy
This Plan is designed to provide a fixed life cover in the event of death of the Life/Lives Insured for the duration of the Policy.
Level term offers a fixed insurance cover throughout the period of insurance
Level term may be used to cover a mortgage, debts that will not decrease over time and to financially protect you and your loved ones
It pays a fixed sum to the lender upon the death of the Life Insured that occurs during the term of the policy
A level term cover tends to be more costly than a decreasing term policy
Atlas Healthcare Insurance Agency Limited (C 32603) is authorised under the Insurance Distribution Act to act as Enrolled Insurance Agents for IVALIFE Insurance Limited (C 94404) on long term business in Malta. IVALIFE Insurance Limited is authorised under the Insurance Business Act (Cap 403 of the Laws of Malta) to carry out long-term business in Malta. Both entities are regulated by the Malta Financial Services Authority.
Please note that Atlas Healthcare does not offer financial advice. You should read and understand the information and documentation made available to you in relation to the product and the investment strategies available.
Do you need to learn more about our policies and key features?
You can download the documents here, or get in touch with us to learn more.
Hello, I’m Luke, a member of the Life & Pensions team.
For more information on Loan Protection Plans, you can speak to me or one of my colleagues. Email, call on +356 2343 5613 or use the AtlasChat.