Here are three simple reasons why you should have it

In order to grant the loan, the bank requires you to take out life insurance as a guarantee for both the credit institution and the client that the loan will be paid out in the event of the death or disability of the insured person, thus ensuring that the family's finances will not be affected.

In order to unify credit payments, it is common for customers to pay the insurance amount monthly, adding it to the monthly loan payment.

Although this insurance may not be an indispensable necessity for everyone, even if it is a requirement of the credit institution, the truth is that it has several advantages that you should take into consideration:

1. Protects your family from possible financial difficulties

In the event of the insured's premature death, a Mortgage Life Insurance policy can ensure that he or she does not leave any debts to his or her family. Although there is no payout to family members in the event of death, since the beneficiary is the credit institution, this insurance removes responsibility for the home loan from family members if the insured dies before the loan is paid in full.

2. Protects you from unpredictable incidents

There are various covers that have been considered to protect you against risks other than premature death, depending on the option taken out, such as definitive invalidity for the profession or compatible activity, or a serious illness.

Disability cover will ensure that, in addition to the costs associated with this situation, you are also relieved of the responsibility of paying back the loan.

You can also have added protection, included in the insurance, which guarantees a refund of the insurance amount in the event of absolute temporary incapacity, involuntary unemployment or hospitalisation.

3. Ease of hiring

Mortgage Life Insurance can be purchased in person or remotely without the need to travel. What's more, the medical formalities are minimal and carried out in total confidentiality over the phone by health professionals, for your convenience.

Request a simulation and you'll see that you can still save on your mortgage costs.

Life Insurance Simulation