Addressed to individuals of 20 to 65 years old, provided the duration of the policy does not exceed the 80th year of the insured.
It is a simple decreasing life protection term insurance, where the insured’s beneficiaries receive the sum insured by installments from the date of death till the date of expiration of the policy. The policy has no surrender or expiration values.
It secures the continuation of the payment of loan installments after the borrower's death.
It may also provide indemnity to the insured in the event of suffering a permanent and total disability, as well as waiving his/her obligation to continue making premium payments of the basic policy.
Income tax relief on premium payments.
Duration of cover from 10 to 40 years.
Indicative Yearly Premium:
For €100.000 amount of loan with interest 5% – 7% plus 1% risk margin to secure €7.624 installment yearly payments for 30 years the premium cost of the plan, for an individual aged 35, would be €370,39.