The MAPFRE MSV Loan Protection Plan aims to repay any outstanding home loan on your death. This means that you are safe in the knowledge that the roof over your partner and children’s heads is safe even when you are no longer around.
These are the main features of an MAPFRE MSV Loan Protection Plan
|
Type of Plan |
Decreasing Term Policy |
|
Policy Fee per frequency |
Monthly - €2.50
Quarterly - €7.50
Half-yearly - €15
Annually - €30 |
|
Age at Entry |
Minimum 18 years, maximum 70 years |
|
Term |
Minimum of 5 years, maximum 57 years. The plan must terminate by age 75 |
|
Basis of Life Cover |
Single Life or Joint Life First Death |
|
Protecting your Dependents |
Outstanding Loan balance will be settled in full upon the death of the Person covered |
|
Additional Benefits |
· Accidental Death
· Waiver of Premium - an option designed to protect your contributions in case of injury or illness. |
|
Funeral Expenses Benefit |
A free pre-paid amount to cover funeral expenses up to a maximum of €2500 or the value of the policy. |
|
Beneficiary |
You can appoint one or more beneficiaries to receive the benefit under the Plan, when this is due. There is no charge for this arrangement to be implemented and it requires only the completion of a simple form. The appointment of a beneficiary (and acceptance thereof) under a life insurance contract does not need to be confirmed in a will and it also supersedes the provisions of a will if there is any conflict between the two. |
Interested in knowing more about the MAPFRE MSV Loan Protection Plan? Learn more about the benefits it will offer you by clicking on the next tab. You may also request a quote by clicking on Apply Now.
The Premium for your MAPFRE MSV Protection Plan will be determined by
• the amount of cover you want,
• the duration of the Plan and
• any Additional Benefits that you select.
The Premium is also calculated on the age, health and smoker status of the Person Covered and the result of any information we have requested.
All charges are reviewable by MAPFRE MSV Life plc and may be changed after the Plan has started, subject to them providing you with at least 90 days notice.