House owners
This is a combined insurance policy for both the house owners and the credit insurance to provide cover to the financing company under a home mortgage loan.
Cover is provided for the building itself against all the perils listed under the House Owners section. This is to ensure that the house (which is the subject matter in the loan agreement) remain existing until the loan is fully paid up.
The credit Insurance section on this policy is to ensure that the loans will be fully re-paid in the event that the borrower dies, becomes disabled, or losses his/ her job or becomes sick that he may not be able to continue with his work to keep on paying for the loan.
