|St George home loan protection is the financial security which is given against any unexpected happenings of a person's life. Nothing can be predicted well in advance, but we can at least plan for our future. Not many people think about the unanticipated events of life. We need not have a pessimistic approach towards life but there is no harm in pre-planning the future and being prepared for the worst. With the help of St George home loan protection scheme, you get insurances on your personal loan; so that, in case something happens to you, the loan does not become a burden on your family members. St George home loan protection scheme is offered in three steps:
St George Home Loan Protection Package
- Life Insurance: This loan protection makes sure that the burden of the housing loan applied by you does not fall on your family if you pass away. The bank itself covers the balance loan amount to a maximum of $50,000.
- Sickness or Accidents: In case you meet with some accident or are ill for a long time and so are unable to work and repay the housing loan amount, the bank will take charge of your repayments till you are fine and are back to work.
- Involuntary Unemployment: If you leave your job for some or the other reason and are not able to repay the home loan, then the bank assists you with repayment for a temporary basisi until you are employed again.