Mortgage protection
The bank requires it — but does not get to choose it for you.
This cover repays the outstanding capital of a mortgage if the borrower dies, so the family keeps the property without taking on the debt. Every Luxembourg bank asks for it when granting a loan — but you are not obliged to take it out with the lending bank. Over the life of a loan, comparing often comes to several thousand euros.
What it covers
- Repayment of the outstanding capital on death
- Cover on one or two lives, with the share you choose
- A decreasing capital that follows the amortisation
- Disability, optional depending on the contract
- Tax deductibility of the premium within legal limits
The Baloise products involved
- Outstanding balance cover on one or two lives
- Share of cover chosen per borrower
- Decreasing capital following the amortisation table
- Optional disability cover
- Single premium or regular premiums
What we need from you
- The amount borrowed and the term of the loan
- The planned date of the notarial deed
- Your date of birth and that of any co-borrower
- A medical questionnaire, depending on the amount
