NICO life Assurance Company Limited also provides life assurance cover on mortgage loans.

The amount of life assurance cover will be the amount of outstanding loan at a particular time.

In the event of death of the insured, NICO Life Insurance Company pays the sum assured to the employer or financial lending institutions which goes towards reducing the amount of outstanding loan. The balance if any is payable to the beneficiaries. The house remains the property of the beneficiaries.