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Life insurance for mortgage loans

Protect your home and family

In the event of death, disability, or dependency
In the event of death, disability, or dependency
couple and 2 kids, at their home balcony

Life insurance for mortgage loans

Protect your home and family

In the event of death, disability, or dependency
In the event of death, disability, or dependency
couple and 2 kids, at their home balcony
couple and 2 kids, at their home balcony

All the benefits

What’s included?

Solid protection Life insurance associated with a mortgage loan protects you and your family in the event of death, disability, or dependency.
Paid loan In case of incidents, ensures the Bank for the remaining mortgage balance, along with any leftover funds for your heirs.
Guaranteed stability This insurance covers all applicants involved in the mortgage.
Flexible policy The policy is annual and can be paid monthly, quarterly, semi-annually, or annually.
Solid protection Life insurance associated with a mortgage loan protects you and your family in the event of death, disability, or dependency.
Guaranteed stability This insurance covers all applicants involved in the mortgage.
Paid loan In case of incidents, ensures the Bank for the remaining mortgage balance, along with any leftover funds for your heirs.
Flexible policy The policy is annual and can be paid monthly, quarterly, semi-annually, or annually.

Insurance options

Choose your level of protection…

mother in a wheelchair holding her daughter on her lap
Life Risk option In addition to death coverage, this option provides more comprehensive protection in the event of total and permanent disability (≥ 60%) due to illness or accident
Essencial Life Option If you're looking for more affordable protection, this option covers death and limited total and permanent disability (≥ 85%) due to illness or accident
Fun couple.
couple and daughter in a hug
Base Life option Protects you in the event of death or dependency
mother in a wheelchair holding her daughter on her lap
Life Risk option In addition to death coverage, this option provides more comprehensive protection in the event of total and permanent disability (≥ 60%) due to illness or accident
Fun couple.
Essencial Life Option If you're looking for more affordable protection, this option covers death and limited total and permanent disability (≥ 85%) due to illness or accident
couple and daughter in a hug
Base Life option Protects you in the event of death or dependency

Coverage

Insurance that protects you…

Coverage

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

If you choose payment other than annual, the following charges will be charged:
Monthly
4% 4%
Quarterly
3% 3%
Semi-annually
2% 2%
Annually
0% 0%

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.

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To purchase your insurance, visit the nearest branch
To purchase your insurance, visit the nearest branch

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Legal documents and other information

Doc O Grey Doc O

Insurance Product Information Document – Mortgage Life Insurance Risk

Download
Doc O Grey Doc O

Insurance Product Information Document –Mortgage Base Life Insurance

Download
Doc O Grey Doc O

Insurance Product Information Document – Mortgage Essential Life Insurance

Download
Doc O Grey Doc O

General and special conditions - Base Life Mortgage Loan

Download
Doc O Grey Doc O

General and special conditions - Life Risk Mortgage Loan

Download
Doc O Grey Doc O

General and Special Conditions – Mortgage Essential Life Insurance

Download
¹Actuarial age is the age calculated based on the insured person's date of birth and a specific contractual date (e.g., contract start, contract renewal), rounded to the nearest whole number.
Example 1: date of birth = 04/25/1974; contract start date= 01/15/2017; actuarial age = 43 years.
Example 2: date of birth = 04/25/1974; contract start date= 10/26/2017; actuarial age = 44 years.
 
There are exclusions outlined in the policy.
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The information presented here does not exempt you from consulting the legally required pre-contractual and contractual information.

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Looking for a branch?
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Need to call us?
Call whenever you need to
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