Keep your family safe from worries by having a Mortgage Insurance Plan. This insurance pays for your mortgage in case of an event, such as death or disability.
Great Rates and Cover in Spain
Why choose a Mortgage Protection Plan?
Stay ahead of troubles and secure a stable lifestyle. Your future looks brighter if you feel confident with your choices and decisions today. If you were to die, would you be 100% certain your family’s financial security would be preserved?
The right Mortgage protection Insurance policy can help you answer all of these questions confidently and give you peace of mind.
What is mortgage protection?
Mortgage protection is in affect a life insurance that states that your bank is the first beneficiary in the event of your death. The life insurance amount covers the mortgage. Any surplus will go to your beneficiaries.
Annual Renewable coverage
This type of policy provides you flexibility and can be changed as needed easier on each renewal.
Life Insurance for Mortgage
Mortgage protection, as banks in Spain usualy require you to have a life plan in place to cover the loan.
LIFE (Mortgage) QUOTE
Advantages of Life cover
- Life insurance covering death by any cause
- Mortgage is fully paid leaving your family in a safe position financially.
- Disability permanent or temporary cover
Extremely courteous staff continue to be of service when we needed insurance
Do I need to take a medical ?
If you are over 18 there is no need to take a medical. The only time you need a medical is if you require a high amount insured.
What is required to cash a policy?
- Copy of death certificate issued by Local Municipal Authority.
- Copy of policy holder and beneficiaries photo identification.
- Current address proof.
These are the first 3 documents required to start the process.
Are there any benefits to this life insurance compared to normal life plan?
The main benefit of this type of life insurance is that you can have a decreasing rate. Which means as the mortgage is paid off you can insert a clause in the insurance contract that the amount covered decreases by a certain percent each year. This rate is usually the same percentage of the mortgage which is paid off each year.
Is it cheaper to take a Mortage life protection plan through a Insurance Broker rather than a bank?
Yes it is usually half the cost through a insurance broker for this type of life policy.
Also the bank will charge a higher annual increase in premium than if you take the insurance out through a broker.
Benefits of using a broker for your Life insurance
Wide Range of Insurers available
We have a list of many excellent insurance providers that we trust and have a relationship with.
Having 30 years experience in the insurance sector we are well placed to give you the best deal.
Amendments to policy
Your needs may change in future. If you require the amount insured to be increased or decreased we can process this request quickly and efficiently. Other changes may be to beneficiaries, address and others