Mortgage Loan Insurance
Mortgage loan insurance has grown rapidly in this region with both the banks and borrowers realising the importance of protecting their mortgages. Our experience in designing customised solutions to meet the needs of every segment that the bank or financial institution services, ensures that you will find the right solution with us.
The following features make our solutions unique and exclusive in this market:
- Our solutions are flexible and can be tailored to cover mortgages of varying amounts
- Our non-medical limits are amongst the highest in the market
- We offer your customers access to the widest networks of hospitals, clinics and doctors in Oman
- We support you with automated tools including illustration systems in order to facilitate needs-based sales
- Our offer to you is backed by one of the best service teams in the industry with clearly defined benchmarks for transaction processing and handling enquiries.
We offer a choice of two types of mortgage insurance solutions. They are:
Length of Loan Policy : In this type of policy, the insurance rate is determined on a case by case basis and guaranteed for the entire loan tenor.
Yearly Renewable Term policy : In this type of policy, the insurance rate is usually an average rate and is applied to all insureds. This rate is reviewed annually depending on the claims experience of the policy.
Coverage
Our solutions are tailor made to suit your requirements and can cover the following :
- Death due to any cause
- Permanent Total Disability due to accident or sickness
- Temporary Total Disability due to accident or sickness
- Terminal Illness
- Critical Illness
- Passive War Risk
Eligibility
Any customer of the bank or financial institution, between the ages of 21 and 65 (which can be renewed up to 70 years)
Medical Requirements
This would be based on the age of the borrower and the amount of cover required
Payment Modes
Premiums can be paid on a monthly basis or as a one-off payment (single premium)
Claims
You will enjoy a high level of service, together with efficient claims settlement.
MetLife group insurance policies contain certain exclusions, reductions, limitations and terms for keeping them in force. Contact your MetLife representative for more information.
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Mortgage protection for your home
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Insure your lifestyle