The cost of housing is very high. For this reason, a mortgage loan is usually taken out from a bank. Paying off the debt to the bank usually takes a long number of years, between 20 and 40 years. A lot can happen during this time, which is why a life insurance policy is a great solution to protect you and the people you love the most. With mortgage life insurance, if something happens to the mortgage holder, the insurance company pays off the debt. In this way, the insured person's family members can enjoy the home without any worries.
Why take out your Mortgage Insurance with Getlife?
Mortgage life insurance is not compulsory in any case when you take out a mortgage with the bank, but it is a highly recommended solution, especially if you are the main income earner and have dependants.
Security for your loved ones through financial support for your family
Mortgage life insurance is a good solution to protect the future of your loved ones. It guarantees the full payment of the home, as it will be the entity with which you signed your mortgage that will receive the insured capital. In addition, your family will be able to receive the remaining part of the capital.
Peace of mind to cover mortgage loan and other expenses
A mortgage life policy is intended to cover the mortgage loan that the bank gives you for the purchase of your new home. It is a good solution to protect the people you love the most and not leave them with a financial burden if something happens to you.
Ease and flexibility from the hand of our experts
The best way to find a policy that really meets your goals is to take a good look at your situation, talk to an expert if you need to, and take out an easy and flexible insurance policy like Getlife.
Death from any cause: The protection provided by a life insurance policy associated with a mortgage loan is highly recommended. Although it is not a compulsory product to take out, it is a solution that we should all have in order to secure the future of the people we love.
The main purpose of this product is to free up your family members so that they do not have to pay for your home if something happens to you. The compensation that the insurance company will have to pay will mainly go towards the payment of the debt that you acquired with the bank when you signed your mortgage.
At Getlife we also consider giving you the opportunity to take out a capital sum in excess of the debt or to acquire an insurance policy with constant capital that allows you, in addition to covering the payment of the money you have not yet paid, to give your loved ones extra financial support with which to cover other expenses, such as food, clothing or studies.
In short, Getlife's policy protects your family members in full, paying off your outstanding mortgage loan and giving your loved ones a portion of the proceeds for additional expenses.
Absolute permanent disability: If you are unable to continue working, the insurance will pay the remainder of your mortgage and provide you with financial support.
At Getlife we have decided to think about the customer, and really offer a modern mortgage life insurance with an appropriate price according to the agreed conditions. This is where the switch (¡El cambiazo!) comes in, a project aimed entirely at helping the customer. All you have to do is contact us, tell us your bank and we will take care of the rest.
Thanks to The switch! you will not only get a lower and fairer premium on your life insurance policy, but you will also get a modern and flexible insurance policy. You will be able to modify the conditions to better suit you and your situation. And if you no longer wish to continue, you can cancel at any time. Get the most modern, transparent and fair life insurance on the market. No minimum term, no paperwork and no small print.
What accidents are covered by mortgage life insurance?
This policy covers natural or accidental death. However, there are some situations that are not covered. The main exclusions in this insurance are accidents in certain high-risk sports, in high-risk occupations such as those related to aviation and bullfighting or illnesses prior to the signing of the insurance contract.
The supplementary guarantee of Absolute Permanent Disability (APD) is supplementary and voluntary. Taking out APD is an add-on that you can decide to take out if you want more protection for you and your loved ones.
It is considered Absolute Permanent Disability when the insured person is unable to return to any type of work due to an illness or accident (including traffic accidents). In this case, the insurance indemnity will be collected by the insured himself. It serves as a financial support after the impossibility to remain employed and earn an income. In this way, the policy not only protects your loved ones when you are gone, but also protects you if something happens to you and you survive.
As with the death guarantee, there are some situations that are excluded. These will also appear in the policy and will be known by the insured from before the signing of the contract.
With Getlife's mortgage-linked life insurance policy, you can get an insurance policy that completely adapts to your situation and needs. We have created a modern, easy and flexible insurance policy that can be taken out in just a few minutes, choosing the guarantees and the sum insured you need. And if your situation changes, your insurance will change with you, you will be able to make all the modifications to your policy through the customer area.
With a life insurance policy for your mortgage you will ensure that your loved ones will be able to keep your home if something happens to you. In addition to completing the repayment of your mortgage loan, Getlife's mortgage life insurance will allow your family to obtain part of the insured capital.