Loan Protection Plan
This product forms part of the MAPFRE MSV product range.
- Provides peace of mind to your family in case of your death
- Pays a guaranteed lump sum in the event of death of one or more persons covered
- The amount of money that we pay decreases roughly in line with your outstanding loan balance.
- You choose amount of death benefit and term of the plan
- You can pay the premiums monthly, quarterly, half yearly or yearly
- Premiums will remain level throughout the plan
- You can appoint one or more beneficiaries to receive the benefit under the Plan
- The policy pays up to €2,500 for funeral expenses costs in the form of a pre-payment of the death benefit
- The term of the plan can be between 5 and 57 years, as long as the plan ends by when you are 75 years old.
- Anyone domiciled in Malta who is at least 18 years old can have this plan.