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Group Mortgage Protection

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Preview

This is a policy that protects the Loan book of the lending institution. Under this scheme, Prudential covers the life of the borrower in that should he/she pass on from an Accident or natural cause, Prudential pays the entire outstanding loan balance plus interest as of that time. 

  • Group Mortgage Protection Brochure
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Plan Overview

  • Group Mortgage Protection covers the loan payment of the policyholder/borrower in the event of their death or permanent disability.
  • The policy pays off the outstanding loan balance (including interest) in the event of a claim, thereby saving the family from the burden of repaying the loan.
  • This policy can be customized to include retrenchment cover.

Key features of – Group Mortgage Protection

  • The policy is between lending institution and Prudential
  • The policy would apply to all borrowers taking out Mortages
  • Members who borrow above a given threshold undergo medical examinations paid for by Prudential.
  • Premium charged is a percentage of the amount of loan taken out.

Group Mortgage Protection Benefits

Loan Book Protection

The Lending Institution’s Loan book is protected from default arising from the insured events.

Asset Protection

Protects assets from repossession by the lending Financial Institution

Funeral Death Benefits

The borrower’s family is supported with last funeral expenses in case of his/her death.

Peace Of Mind

Peace of mind for both Financial Institution and borrower

Retrenchment Benefit

If option is selected, the bank will receive loan installment payments up to a maximum of 12 installments from the date the borrower gets retrenched.

Good Lending Reputation

A good reputation for the lending Institution

General Group Mortgage Protection Frequently Asked Questions

Any one who is taking out a mortgage plan with a lending institution.

This product ensures the lender does not lose money as a result of the death of the borrower and a such also protects the assets of the borrower/borrower's estate.

It can only offer a relief in the event that the borrower is retrenched thus unable to pay loan instalments by paying up to 12 months of instalments.

The lending institution.
Clients Feedback

Our Clients Reviews

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Thank you, Prudential, for your promptness on the Toll-free line and the WhatsApp group. Martha, Ritah and Elliot, thanks for the super work that you do.

    Immaculate Gonza.

    Centenary Bank.

    Am a service provider and I have worked with so many Insurance companies but by far “The Pru”, has proved to be very prompt when it comes to payment.

      Joel Oroni.

      IMC General Manager.

      Thank you Ritah for your kindness. You really helped me when I was stuck at Doctor's hospital Sseguku. May God reward you abundantly.

        Jacenta Ashaba

        Centenary Bank.

        Give Us A Call

        0800-200-052

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        customercare@prudential.ug

        Office Location

        10th Floor, Zebra Plaza, Plot 23 Kampala Road, Kampala

        Prudential Uganda is regulated by the Insurance Regulatory Authority of Uganda, whose main responsibility among others, is to ensure that insurance companies honour claims. Furthermore, Prudential Uganda is a subsidiary of Prudential plc, UK, a company that has been honouring claims for over 175 years.

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