MORTGAGE LIFE INSURANCE
Mortgage Life Insurance guarantees your family’s future, giving you peace of mind about tomorrow.
With this solution, unforeseen events are eliminated and the quality of life of your loved ones is safeguarded, through a range of basic and complementary options that guarantee the payment of capital and additional protection.
This insurance allows the insured capital to be revalued annually and automatically. It also guarantees that the defined capital will be paid out to your family in the event of your death or absolute permanent incapacity.
Mortgage Life Insurance not only provides peace of mind and financial stability, but also helps to maintain family assets. The coverage can be adjusted over time to reflect the outstanding balance, ensuring that the insurance costs remain proportional to the real value of the outstanding credit.
Choosing the right insurance should take into account factors such as the amount of the loan, the repayment period, the age and health of the borrower, as well as the specifics of the cover offered. Working with an insurance intermediary company can help in selecting the most suitable policy, ensuring that all protection needs are met efficiently and economically.
GUARANTEES
- Cover in the event of death, in which the insured capital is paid to the bank and the remaining capital, if any, is paid to the remaining beneficiaries;
- Absolute Permanent Incapacity, which guarantees the payment of the insured capital when, due to illness or accident, the insured person is unable to carry out their professional activity. However, this cover presupposes that the insured has a degree of total incapacity (the insured is unable to carry out any type of activity);
- Absolute Incapacity for the Occupation or Compatible Activity, which, although similar to the previous one, differs in that it can be triggered from a degree of disability of 55%, where the insured is unable to carry out their current occupation or similar;
- Complementary cover options that include:
- Accidental death cover and cover for dependent minor children;
- Exemption from payment of premiums in the event of absolute temporary incapacity for work due to accident or illness, involuntary unemployment or hospitalization.
- The age limit for certain covers can be up to 85 years.
