Mortgage Protection Insurance
Calculations of mortgage protection insurance premiums are based on several factors such as:
- The mortgage loan amount outstanding.
- The size of the loan repayments.
- The age and health of the policyholder.
- The income of the policyholder.
- The type of mortgage protection insurance policy held.
- Term of the policy.
Mortgage protection insurance costs vary depending on the Insurer and the variables referred to above. However, they typically range between $40 and $270. However, policies with more attractive benefits tend to be in the $150 plus range.