ASDA Joint Mortgage Protection
ASDA Joint Mortgage Protection Policies are aimed at providing mortgage cover in the event of an abrupt loss of income of either of the partners of a couple taking a joint home loan.
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Such an insurance policy is particular suited for those homeowners who have taken a joint home loan, whose monthly installments are procured from the income of both earning individuals, possibly in proportion to their respective contributions to the household income.
About ASDA Joint Mortgage Protection
ASDA Stores Ltd is a chain of British Supermarkets, which alongside dealing in various household goods, also offers financial services to its customers. Founded in 1949, and with their lead office in Leeds, West Yorkshire, the company has 25 supercenters all over UK. With a workforce of 143,126 members, they are committed to providing the best Insurance cover to consumers.
Types of Mortgage Protection Insurance Policies
The company has several types of Mortgage Protection Policies to offer. The most common insurance in this regard is the Mortgage Payment Protection Insurance that provides 100% cover to pay the monthly loan repayment installments against a home loan, in the event of loss of income for the policy holder.
There is also a provision of Joint Mortgage Protection for those couples that take a joint home loan. Here, the insurance cover is split between the two individuals in proportion to their contribution to the family income. Thus, in case either loses their income due to injury, illness, or unemployment, the policy provides their part of the monthly installments that is used for mortgage repayment.
Also, ASDA offers an Income Insurance, which too, can be utilized for purposes of mortgage protection. Here, in the event of a policyholder, or joint policyholders, losing their income due to illness or injury, the policy provides part-funding in accordance to their lost salary, so that they can meet expenses such as mortgage repayment.
The funds extended by the either of the three types of Insurance policies are only provided for as long as the policy term lasts, or the policyholder’s income is resumed, whichever may happen first.
The rival companies to ASDA’s financial services are – tesco joint mortgage protection.
ASDA Joint Mortgage Protection Reviews
ASDA Insurance Services have gained mixed reviews at reviewceter.com. There are certain types of insurance policies that have earned positive commendation, while others do not boast of desirable reviews. One can write their own experience with the company’s financial services here, or read what other have felt while dealing with them at reviewcentre.
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