The advantages of contracting insurance linked to a mortgage with an insurer

2023-07-13 18:32:39

Life5 highlights that those who opt for a mortgage They need more and more transparency and ease when contracting and managing this type of loan and other products that are usually directly associated, such as life insurances. «A coverage that, although it is not mandatory, is one of the most recommended when buying a house, since it ensures the payment of the mortgage in the event of death, disability or other unforeseen events, which is key protection for the relatives or heirs of the policyholder, who will be able to continue enjoying the home with peace of mind”, he values.

In order to reveal the main myths around this type of insurance and its main advantages when linked to a mortgage loanLife5 answers the most common questions that people usually face in this situation:

Should the insurance be contracted in the same entity?

Although the Spanish Mortgage Law establishes that no bank can force its clients to acquire other products when applying for a mortgage loan, many entities facilitate its management and offer bonuses linked to its contracting. “However, in most cases, management with other entities, such as traditional insurers or insurtech, has other high-impact advantages with regard to the conditions and that directly affect the price or the final coverage, “he indicates.

According to the insurtech, this possibility, which in many cases goes unnoticed, allows users to opt for more flexible options within the insurance sectorin which digitization, flexibility, knowledge of the new consumer or the simplification of conditions, such as the absence of permanence, are the key to adapting to each type of client.

«Taking into account that the possibility of maintaining Life insurance for life supposes an extra security and protection for any user, and considering the current economic-real estate context, today flexibility, proximity and ease are conditions that we consider essential to be really useful for the new consumer, even more so in cases in which they are immersed in a mortgage loan”, he explains Guillermo AllenCEO of Life5.