It is a simple life insurance policy of a specific duration in which the coverage decreases proportionally each year and does not acquire a surrender value, but it provides a lump sum to the beneficiaries when the insured dies.
It addresses:
To persons aged between 20 and 65 years old, provided that at the end of the credit facility the insured does not exceed the age of 80 years.
It offers:
Securing the instalments of credit facilities in case the borrowing client is no longer alive.
The replacement of the insured person’s lost income in the event of premature death.
Coverage of the insured for permanent total disability and waiver of the premium, if the client wishes, with the corresponding cost (appendix).
Possibility of tax deduction.
Long term from 10 years and a maximum term of 40 years.
Indicative Premium:
Annual cover for a €100,000 loan with an interest rate of 5.75% plus a risk margin of 1.00% is €7,624 / 30 year term for men aged 35 years / annual premium
