¿Es necesario contratar un seguro de amortización de la hipoteca?

Do I need to take out mortgage amortization insurance or when I apply for a loan? What is loan and mortgage amortization insurance for?

Loan and mortgage amortization insurance is not mandatory, but it is highly recommended. These insurances protect the financial institution against possible default due to the death or disability of the borrower. These insurances are life policies that cover the debt, so that they avoid putting at risk the assets of the heirs in case of death. Normally, you can also take out an additional guarantee for absolute disability.

The amortization insurance premium can be paid in installments (monthly, quarterly, semi-annually or annually) in the case of renewable annual life insurance, or make a single down payment of the policy (single premium insurance). This depends on the type of insurance and the capital you want to insure.

We recommend that you take out renewable annual life insurance. Financed single premium insurance generates a lot of interest and, in addition, ties you to the bank, because once you hire them, you have to pay them.

Amortization insurance is a type of life insurance in which the insured capital coincides with the amount to be amortized. These have the same duration as the mortgage loan or loan. The amount of the capital guaranteed at the time of the death (or contingency covered) of the insured will be the same as the outstanding capital of the mortgage or loan immediately following the last maturity.

In addition, there is another type of insurance in which the amount to be paid in the event of death, or disability (if applicable), remains unchanged throughout the entire duration of the insurance contract. In these cases, the insurance company will pay the credit institution the amount pending amortization and the excess to the rest of the persons designated as beneficiaries in the policy.

Switch to PuntoSeguro 40

If you already have a mortgage life insurance with the bank, changing your policy to PuntoSeguro you save 40% of the premium.

Take out your mortgage life insurance cheaper than in the bank with PuntoSeguro 40 and get a discount on the policy forever.

With the PuntoSeguro.com mortgage life insurance comparator you can find out how much you can save on your mortgage life insurance.

If you already have the insurance with the bank, select the «Bank» option and enter the annual amount to get the price with PuntoSeguro: a 40% discount guaranteed. Once you have obtained the price, you can contract directly from the web or request a commercial call. Easier, impossible.

And just by taking out a life policy at PuntoSeguro you will participate in the #RetoPuntoSeguro, an exclusive challenge for all PuntoSeguro customers. Through the PuntoSeguro Fit App, the physical activity of each user is rewarded through challenges, both individual and collective. In addition to having your daily physical activity controlled and contributing to social causes (collaborating in overcoming the collective challenge), you can get a discount of up to € 120 on each renewal of your insurance, as you overcome the individual challenge month by month.

If you need more information to take out insurance or need any additional clarification, do not hesitate to contact us.

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