RSA Joint Mortgage Protection
RSA, otherwise known as Royal Sun Alliance, offer a wide range of protection plans including joint mortgage cover. For a free no-obligation quote please use the form on the right.
Joint mortgage protection plans are the insurance policies when covers the policy holder as well as the beneficiary in not so good times. An essential part of mortgage loan, this prepares you if you are diagnosed with critical illness or go unemployed and cannot pay the monthly repayments. The RSA mortgage protection also covers life as in case of death of the policy holder, the insurance firm pays the family in lump sum or the outstanding loan amount so that they free themselves of the debt.
About RSA Joint Mortgage Protection
RSA Insurance Company was founded in the year 1996 and has it headquarters at London. A public limited company which exclusively provides insurance has its offices spread over the Asia, Europe, North America, Caribbean and South America. It is listed in London Stock Exchange and is one of the leading insurance providers in United Kingdom with over 21,000 employees working for them.
Types of Joint Mortgage Protection
The RSA joint mortgage protection covers two different polices :
decreasing term policy: The term decreasing here refers to the amount to be paid by the insurance company. AS the policy holder keeps repaying his loan, the amount of the mortgage covers decreases with time. So, in case of an early death, or critical illness, the company only pays the outstanding amount to the bank or financial institution to relieve the beneficiary and the family of the burden of any loan or debt. The policy lapses when the policy holder finishes his loan payments and closes the mortgage loan. The premium also decreases as the time increases in this type of insurance policy.
Level Term insurance: Level term insurance policy covers mortgage protection and pays the lump sum amount if the policy holder dies before the policy matures. The amount is fixed as you sign the policy and the insurance company pays the same to the beneficiary after death of the one who has taken the loan. In this, there is no relevance to the loan amount already paid by the policy holder.
With so many insurance providers in the UK market, RSA is in stiff competition with AXA mortgage, Sun life Direct and Royal London Group.
Review of RSA Joint Mortgage Protection
RSA joint mortgage protection review is currently not available on but you can easily read about other joint mortgage protection providers in the market. Post your views about RSA joint mortgage policy on link .
How can we save you up to 40%
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