- The group mortgage as the name suggests offers mortgagees cover to protect their mortgage outlay. Mortgages are taken for long term and it is imperative that a proper mortgage plan is put in place. The plan is mainly arranged by banks or financial institutions that give mortgages. Specific arrangements may be made with employers and a financial institution. Specific premium rates and level of Free Cover Limit will be agreed on under the arrangement. The lender simply has to refer the client to Corporate to have the cover affected.
Premium rates are designed to take into account the long term nature of these contracts