Mortgage Protection Insurance


Mostly, private houses all over the world are acquired through the means of Mortgage Loans from Banks, Buildings Societies and other Financial Institutions. In some circumstances, however some of these loan holders die prematurely without fully making good their loans thereby leaving their families to inherit such massive debt. Inability to meet this huge financial obligation will leave the lending institution with no option but to dispose of the property to make good the loan.


Aureol Mortgage Protection Policy is designed to pay for the Capital sum outstanding should the Life Assured die before the entire loan is paid. In this way, the dependents of the life assured can safely enjoy the use of the property without any financial strain. Any Individual between the ages of 18 and 65 with a mortgage loan.

Level of Benefit Available

Policyholders decide on the level of cover they want in most circumstances it is up to the loan amount. Premium due depends on the age of the life to be assured, the policy term and the amount to be assured.

Increase of the Level of Benefit

This could be done in cases wherein the loan amount is increased. Such an increase in the benefit attracts increase in premium.

Inception of Cover

The policy can start running after the payment of the first premium.

Premium Payment Methods

Premium could be paid: Monthly, Quarterly, Half Yearly or Yearly.

The Policy’s Minimum Term

The protection offered for the entire duration of the loan.

Can I change my Beneficiary?

Yes. You can change your beneficiary at any time by sending a written notice to us of such change.

Claim Procedures

All claims should be reported at the Life Department of the Company, Second Floor, Kissy House, 54, Siaka Stevens Street, Freetown. The documents required are:
Death Claims:
  • Death certificate
  • Cause of Death Certificate
  • Policy Document
Non-Payment of Policy Proceeds
Benefits due under the policy shall not be paid in any of the following circumstances:
  • The information you provided on the Proposal or Application Form was not correct
  • Non-payment of premiums
  • Death due to an Excluded cover