Coverage
Life insurance for mortgage loans
Protect your home and family

Life insurance for mortgage loans
Protect your home and family


All the benefits
What’s included?
Insurance options
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Coverage
Insurance that protects you…
The insurance guarantees payment of the mortgage in the event of total and permanent disability due to illness or accident of the insured person.
Here are the main aspects of this coverage:
- The insured person is considered to be in a state of total and permanent disability if, as a result of illness or accident, they are completely and permanently unable to perform paid work;
- Current medical knowledge does not predict any improvement in their health condition;
- The degree of disability must be equal to or greater than 60% (Life Risk Option) or equal to or greater than 85% (Essential Life Option), according to the National Table for the Assessment of Permanent Disabilities in Civil Law; for the purpose of this coverage, this is considered equivalent to 100%;
- The insured person must be retired due to disability, determined by Social Security or by another competent entity, which must be accompanied by clinically supported information;
- The insured person must be between 18 and 66 years old;
- Disability coverage ends at 67 years of actuarial age¹, while death coverage continues until the end of the term (up to a maximum age of 80).
The insurance guarantees payment of the mortgage in the event of dependency.
Here are the main aspects of this coverage:
- The insured person has permanently lost the ability to carry out any paid activity;
- Additionally, the insured person has lost the autonomy to perform essential activities for meeting their basic daily needs, requiring assistance from another person. These activities include domestic tasks;
- The insured person must be retired due to disability and receive a dependency supplement as determined by an official authority;
- Dependency coverage ends at 67 years of actuarial age¹, while death coverage remains in effect until the end of the term (up to a maximum age of 80).
The insurer will pay the insured capital to the Bank (irrevocable beneficiary of the insurance).
- Death coverage ends at 80 years old.
The insurance has restrictions for travel abroad, which takes place outside the European Union, with the exception of the following countries: United Kingdom, Switzerland, Norway, USA, Canada, Australia, New Zealand and Japan.
The insurance covers professional and non-professional risks, excluding clearly hazardous activities, as outlined in the General and Special Conditions, which apply only if approved by the insurer.
Costs
Here’s how it works
The insurance premium is updated annually on the contract renewal date (January 1st of each year) based on the actuarial age¹ of the insured person(s), and the outstanding insurance amount as of December 31st of the previous year.
If you choose the monthly update of the insured capital, the insurance amount will be adjusted every month.
On the first premium receipt or when an Additional Minute is sent (for customer change requests), a fee of €5.13 (includes legal charges) will apply.
Legal documents and other information
Insurance Product Information Document – Mortgage Life Insurance Risk
DownloadInsurance Product Information Document –Mortgage Base Life Insurance
DownloadHere are the main aspects of this coverage:
Here are the main aspects of this coverage:
Here are the main aspects of this coverage:
Here are the main aspects of this coverage: