Group Mortgage and Loan Protection SchemesFidelity Life Assurance
A loan protection scheme is designed to assist both the institution offering the loan and the individual taking out the loan. In return for a premium, normally in built in the repayments being made to service the loan, Fidelity Life Assurance pays out to the lending institution any outstanding loan balance in the event of death of the loaned person. The Scheme can also cover abscondence or involuntary retrenchment. This scheme enables both the creditor and the debtor to have peace of mind.