How does life insurance for a home loan work?
Looking to hire a home loan and facing the requirement of hiring life insurance? Learn how it works.
The life insurance on a home loan is required by banks to ensure the repayment of the loan in case of the death or disability of the policyholder. The coverage varies, including basic protection or broader coverage. Although the bank usually suggests an insurer, the client is free to choose another one and even transfer the life insurance to another company later on, which can reduce the monthly installment of the loan. Keep in mind that the choice of insurance and its conditions can significantly influence the total costs of the loan.
Learn more about this topic in these articles.
Related articles:
- Life insurance for home loans: How does it work? [https://www.poupancanominuto.com/artigos/seguros/seguro-de-vida-do-credito-habitacao-como-funciona]
- Life insurance for home credit: What coverages are there? (https://www.poupancanominuto.com/artigos/seguros/seguro-de-vida-credito-habitacao-quais-as-coberturas)
- Housing credit: Do I have to accept the life insurance that the bank imposes on me? https://www.poupancanominuto.com/artigos/seguros/credito-habitacao-tenho-de-aceitar-o-seguro-de-vida-que-o-banco-me-impoe
- Home credit: Can transferring life insurance help lower the installment?