Aviva Joint Mortgage Protection
Aviva Joint Mortgage Protection Policies are designed to ensure policyholders with a joint home loan are able to pay their monthly loan installments in the incidence of the abrupt loss of income of either individual.
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Such nature of Insurance is very suited to those home owners who have taken a joint home loan against the purchase of property, and require part of the income of both partners to pay the monthly mortgage installments.
About Aviva Joint Mortgage Protection
Aviva plc is a UK based global insurance company that has its headquarters at London. Founded in 2000, the company now has 46,000 employees, serving 53 million customers worldwide. Their operations are widespread over most of Europe and Asia, with a fair presence in the Americas as well. They have numerous Insurance schemes to cater to the needs of all their customers.
Types of Joint Mortgage Protection
The company offers, primarily two types of Joint Mortgage Protection Schemes. The more common, standard repayment mortgage insurance is the Decreasing Term Policy. The fundaments of such insurance plans are that the in case the policyholder(s) is dies within the policy term, they provide a lump sum amount which will be in declining amount over the term period of the policy. This is because, with the passage of time, the repayment mortgages or loans have a decreasing amount.
The second type of Joint Mortgage Protection Policy Aviva has is the Level Term Mortgage Insurance. Such insurance plans have fixed-cost premiums, which remain constant thought-out the term period of the policy. They are mostly suited for interest-only mortgages and are beneficial if one aims for long-term planning and asset management.
For either type of insurance policy, a Joint Mortgage Protection Policy would mean that the mortgage repayment is made against joint home-loans that are taken by a couple. Moreover, the exact terms and conditions for such schemes can be varied in accordance with one’s specific requirements.
The Aviva plc, being a global insurance company, faces competition from numerous financial firms. These include worldwide names like Tesco Life Insurance.
Aviva Joint Mortgage Protection Reviews
Aviva Insurance Policies have garnered mixed reviews at reviewcenter.com. There are numerous reviews available for this company, some of which are appreciative of Aviva’s services, while others are not as forthcoming. One can also write a review describing their own experience, if any, in dealing with the company or using its services. Also, one can read about others’ experiences with Aviva at reviewcentre.
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