Understand the protection offered
The insured balance, benefit structure and eligibility will depend on the product. If you have a joint agreement, ask how each borrower is covered and which benefit limits apply.
Keep the different covers clear
Credit life concerns insured events affecting the borrower. Buildings insurance concerns the property. Review existing life cover and loan-related protection as part of understanding your needs.
Check how the premium is calculated
A product may use an original balance, outstanding balance or another rating method. Your personalised quotation should explain the applicable basis and confirmed premium.