The insurance company Libra has entered the field of mortgage insurance at market-breaking prices, and is launching its cheapest mortgage insurance in accordance with the Capital Market Authority’s account at the Treasury.
The company, which until today dealt in the field of basic insurance (cars and apartments), is starting to market its mortgage insurance, which includes building and life insurance. Since its establishment over four years ago, Libera has changed the face of the insurance industry in Israel and has led moves including a mobility revolution in car insurance, moving to a mileage-based pricing model, pet insurance with online claims payment and more.
For the sake of comparison, a 27-year-old non-smoking woman who received a mortgage of one million shekels for 20 years will pay in pounds 3,810 shekels throughout the period compared to an average price of 6,912 shekels in the other companies in the industry. Under the same conditions, a 40-year-old male smoker will pay NIS 21,600 per pound throughout the entire period, while the average price of the other companies in the industry is NIS 36,519. Libra will now offer in one process a comprehensive insurance product for its mortgage, which includes both building insurance and life insurance.
Etti Elishkov, founder and CEO: “Libra is leading a revolution in mortgage insurance prices. Mortgage life insurance has accompanied us for many years. Therefore, it is important to understand what the total cost will be until the end of the insurance period. The consumer will be able to save thousands of shekels with us through a fast digital process.”