NICO Life Insurance Company Limited in partnership with the NBS BANK offers Group Mortgage Cover to protect the Bank's Mortgage clients.

The policy covers Mortgage Loans of any value. The policy offers a Free Medical Limit. This means' that covers for loans of values below Free Medical Limit will be granted free of medical requirements and without HIV testing while covers for loans in excess of Free Medical Limit will have the excess cover granted subject to HIV testing and submission of other relevant medical requirement.

Assuming a member decides not to submit the medical requirements but has applied for a loan exceeding the Free Medical Limit, in the event of death, NICO Life Insurance Company Limited will only arrange payment of cover up to the Free Medical Limit. The excess loan amount will not be covered. It is therefore very important that members submit all the medical requirements as requested.

Premiums will be paid to NICO Life Insurance Company Limited annually in advance on the commencement of cover and annually on loan balances.