HSBC Insurance has recently launched a promotion for their Mortgage Protector policy.
A Mortgage Protector policy is a decreasing term insurance policy meant to provide against the liabilities of a housing loan.
Having such a policy in place would ensure that the surviving dependents of a breadwinner (on his or her demise) would not have the burden of paying off the remaining housing loan, or worse still having their place of residence forced sold by the banks and then having no place to stay.
The current promotion will slash 14% to 20% off the usual rates, which makes the premium rates very competitive compared to similar plans offered by other companies. This promotion will run till 31st January 2012.