Mortgage Redemption Policy or Declining Term Assurance
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(094) 77 2 467 272 - For professional buying and Selling of Real Estate in Sri Lanka

Mortgage Redemption Policy or Declining Term Assurance

To protect your family from the burden of outstanding home loan repayment in the event of your untimely death you need to buy a mortgage redemption policy, typically with a once and for all premium, from a life insurance company.  A mortgage redemption policy is a product that pretty much mirrors the home loan amortization schedule. For the remaining term of the loan, this policy covers you for the outstanding amount of the loan with a sum assured of the policy matching the outstanding loan amount at any given point. As mentioned before, these products are useful to people whose dependants do not have other asserts to fall back on, in the event of their untimely death. The policy, which is issued only after the loan is sanctioned, will be fully assigned in the name of the lending institution with your name appearing as the life assured.  The policy comes into effect in the event of your death before the loan is fully repaid. The sum assured is paid to the lending institution that will therefore not have to liquidate the assets in order to repay the loan. The mortgage redemption policy can be taken by joint applicants when the borrowing is in joint names.

 
BIMSARA-GEOGRAPHICAL-AREA-OF-OPERATION
Our promise to both buyers and sellers is that we hold and command the most comprehensive data base of both buyers and sellers in our geographical area of operation. This enables us to offer our buyers the best matching properties for your specifications. Buyer satisfaction is the key for the seller to get the best possible price.
To truly deliver this promise our valuable clients, we employ various ethical techniques unique to our own. Right at the moment we are active only in the following towns and suburbs.

We hold and command the most comprehensive data base of both buyers and sellers in our geographical areas of operation. This enables us to offer our buyers the best matching properties as per their specifications.

Presently we are active only in the following towns and suburbs.

Nawala Nugegoda
Embuldeniya Colombo 3
Rajagiriya
Mirihana Madiwela Colombo 4
Battaramulla
Ethulkotte Thalawathugoda Colombo 5
Pelawatta Pitakotte
Kohuwala Colombo 7
Battaramulla-Koswatta
Beddagana Pepiliyana Colombo 8

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