The Most Affordable Home Life Insurance for You. Learn How to Choose.

Although this life insurance is a mandatory requirement for most lenders, it doesn't have to be expensive. To choose a more affordable option:

• You should take your needs into account. Although the contract with the bank sets forth certain requirements that cannot be avoided, the policyholder needs to know which options are essential and which ones can be waived.

Learn more about the Life Insurance for a Mortgage

To do so, you should consider whether you want a single or joint policy and whether you want insurance that covers only the unforeseen event of death or whether you want to include Total and Permanent Disability—which is more comprehensive than Absolute and Definitive Disability— as it provides compensation for claims that do not leave the insured in a «vegetative state.».

• You should take your family budget into account.
• You should consider your ability to negotiate the cheapest possible insurance policy. Highlight all your strengths that could be seen as an advantage to the insurance company, such as your medical history (if it’s favorable, of course), healthy habits (exercise, diet…), and the absence of serious illnesses in your family.
• You should consider various options. According to Decree-Law No. 222/2009, consumers are free to choose the life insurance policy they find most advantageous, even if it is not the policy offered by the bank’s affiliated company—which, in most cases, is not even a competitive offer. Therefore, it is important to seek the assistance of brokers, such as EXS, to compare different options.
• You should take into account the company you work for. Many firms enter into agreements with insurance companies to secure rates that would be impossible to obtain if negotiated individually. This advantage stems from the fact that companies have a large number of policyholders: the more there are, the better the rates. Request a no-obligation quote for Mortgage Life Insurance.