| What is protection mortgage? | | | | insurance company. |
| It is as simple as it sounds. Basically, it protects your | | | | What happens when you are bed ridden for long? |
| loan or mortgage payments in times of redundancy, | | | | In case you are bed ridden for a long time and cannot |
| illness, accident etc. You will not lose out on any asset | | | | get back to work, then you will be covered till your |
| that is pledged against your mortgage. | | | | retirement age only if you have applied for a |
| Is this protection cover meant only for loan protection? | | | | protective cover till your retirement age say roughly |
| Not really, they will help you make any payments that | | | | around 50-60 years of age. Ask your agent about this |
| are due such as loans, credit cards or mortgages etc. | | | | cover and specify the age clearly. |
| Will you be covered if you are on sick leave and | | | | Why is such a cover required? |
| unable to go to work? | | | | If you have to avert the consequences of losing a job, |
| No policy will let you have dual income source. This | | | | just make sure you have such a protective policy in |
| policy is a protective cover only when you have no | | | | place. This helps you meet your living expenses, pay |
| income due to redundancy. If you have paid sick leave | | | | up your pending loans and thus help your dependents |
| then your employer will be paying you your salary and | | | | indirectly. You need not worry about losing your |
| you can't claim for any compensation from your | | | | collateral. |