Home Loan Credit Insurance

Whenever you are paying a home loan, you are bound to think about how you would meet your repayments should your circumstances change. Will you put the burden of repaying your home loan on your loved ones?

Optional Home Loan Credit Insurance now makes it possible for you to protect the amount outstanding on your Home Loan in the event of sickness, accident or involuntary unemployment.

What does Home Loan Credit Insurance cover?

This depends on the level of cover chosen:

In the event of accident or sickness the insurers will cover your monthly repayments until the end of your disability, until the end of your loan term or until 24 monthly payments have been made - whichever comes first.

In the event of involuntary unemployment the insurers will cover your monthly loan repayments until you return to work, until the end of your loan term or until 12 monthly payments have been made - whichever comes first.

To offer this product, HSBC has teamed up with established local insurers:

• The Accident, Sickness and Unemployment of this cover will be provided by Elmo Insurance Ltd as the lead coinsurers with Atlas Insurance PCC Ltd, Citadel Insurance plc and GasanMamo Insurance Ltd as the other coinsurers subscribing to the policy. It should be noted that notwithstanding the number of insurers involved the client will only deal with HSBC Life or Elmo in the event of the claim

As from the 2nd June 2008 anyone taking up a Home Loan Credit Insurance policy will be entitled to an additional life cover of €1,000.  This benefit is being provided by HSBC Life Assurance (Malta) Ltd.

What do I do next?

Simple. If you need further information of how you may avail yourself of a Buy to Let Loan you may:

• call at the nearest HSBC Bank Malta p.l.c. branch
• call our Customer Service on 2380 2380
• send us an e-mail