Do I have to take out life insurance cover for my mortgage loan?

< Back
You are here:

Only if the bank requires such insurance.

Many people, however, irrespective of the bank’s requirements in this regard, decide to take out life insurance and cede it to the bank to ensure that the balance is settled upon your death.

Volker Krüger

image_pdfSave as PDF
Previous Who qualifies for a government subsidy for the purchase of property, also referred to as FLISP?
Next What if there is a shortfall on the seller’s finances? In other words, there is not enough money available to cover the outstanding balance on the existing mortgage loan of the seller?
Table of Contents