We have 3 separate packages, depending on how the premium is paid.
Depending on your budget, potential tax breaks, etc., you can pay the premium in a single payment or spread it over time with our level premium or risk premium packages. You could even consider combining several packages.
- Single-premium Loan Protection Insurance: you pay the premium in one go and take advantage of the maximum tax breaks in the first year of your Home Loan. If you include the premium amount in your loan, you can spread the cost over the entire term of your loan.
- Level Premium Loan Protection Insurance: you can sometimes make the most of your tax breaks by staggering payment of the premium. Depending on your tax allowances in the first year, you can increase the first premium and reduce subsequent premiums (it is possible to stagger them over a maximum of two-thirds of the term of the policy).
- Risk Premium Loan Protection Insurance: you avoid any risk of underinsuring the loan. You pay an annual premium that changes every year, depending on the principal yet to be repaid, the interest rate and the life of the loan.