{"id":19801,"date":"2023-06-30T00:00:00","date_gmt":"2023-06-30T00:00:00","guid":{"rendered":"https:\/\/www.cinc.com\/find-out-how-much-you-can-save-on-your-mortgage-life-insurance\/"},"modified":"2023-06-30T00:00:00","modified_gmt":"2023-06-30T00:00:00","slug":"find-out-how-much-you-can-save-on-your-mortgage-life-insurance","status":"publish","type":"post","link":"https:\/\/www.cinc.com\/en\/find-out-how-much-you-can-save-on-your-mortgage-life-insurance\/","title":{"rendered":"Find out how much you can save on your mortgage life insurance"},"content":{"rendered":"<div style=\"text-align: justify;\">\n<div>\n\t\tIn the past, when you applied for a mortgage through the bank, you were obliged to take out a life insurance policy that conditioned the granting of the mortgage loan. In reality, these insurances have higher rates than those usually offered by the market, and you end up paying a higher price than those offered through other channels, such as Insurance Brokers and Mediators.&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tDid you know that the new Mortgage Law, in force since June 2019, eliminated this practice? This means that banks must offer you other alternatives, as well as allowing the customer to take out the policy on their own and present it to the bank.&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tDo you want to start paying less for your mortgage life insurance? At CINC Corredur&iacute;a de Seguros we offer you one of the best life insurance policies on the market with very attractive conditions. This is a specific life insurance designed to cover the outstanding capital in the event of premature death or permanent disability. And the great advantage is that you will only pay a price adjusted to the real debt you have at any given moment.&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n<h2 class=\"h2Noticia\">\n\t\t\tWhat is Mortgage Life Risk insurance and why does it allow you to save money?<\/h2>\n<hr \/><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tIt is a type of insurance that automatically reduces the capital contracted annually with respect to the capital amortised to the bank. In this way, you only pay for the debt, as the policy is only increased each year by age bracket and is reduced by the outstanding capital. Therefore, this modality guarantees you pay less for your mortgage insurance than the one you have taken out or is offered by your financial institution.&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n<h2 class=\"h2Noticia\">\n\t\t\tHow is the price of the Life Risk Mortgage insurance calculated?<\/h2>\n<hr \/><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tThe price of the insurance is recalculated downwards each year with a new insured capital, which due to the amortisation of the mortgage debt will be proportionally lower than the initial one. Once the new premium has been obtained for the new reduced capital, it is recalculated taking into account the age of the insured in each year of the insurance, guaranteeing you a very stable premium during the whole period of the contract. Moreover, as it is calculated each year by the new capital of the outstanding debt, no excess premium is paid.<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tIf you want to leave assets in excess of the debt, we advise you to take out a life insurance policy with fixed capital, as the Vida Riesgo Hipoteca insurance policy is designed to cover your obligations to the bank. Contact us and we will advise you on the best option.<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tThe rate may vary depending on the profession or the practice of risky sports.<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n<h2 class=\"h2Noticia\">\n\t\t\tWhat guarantees does the Mortgage Risk Life insurance cover?<\/h2>\n<hr \/><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<ul>\n<li>\n\t\t\tMain guarantee: Death capital<\/li>\n<li>\n\t\t\tAdditional guarantee: Management service in the event of death.&nbsp;<\/li>\n<li>\n\t\t\tComplementary guarantee: Absolute and Permanent Disability<\/li>\n<\/ul>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n<h2 class=\"h2Noticia\">\n\t\t\tWhat amount of capital can be insured initially?<\/h2>\n<hr \/><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tThe Insured Death Capital must be the capital received for the loan, with the possibility of adapting each annuity to the capital pending repayment by applying the different types of capital decreases foreseen (linear, cumulative or irregular).<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n<h2 class=\"h2Noticia\">\n\t\t\tWho is the beneficiary of the insurance?<\/h2>\n<hr \/><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tGiven that the objective of the policy is to cover the lack of payment of the outstanding debt due to death or absolute permanent disability, the first beneficiary is the entity for the outstanding amount in the event of a claim, which in turn also provides advantages in terms of inheritance as it does not increase the estate for life insurance payments. If there is capital left over from the insured capital once the mortgage has been paid off, the beneficiaries designated by the policy holder will receive the corresponding amounts according to the insured person&#39;s express designation.<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tIf you would like more information and need advice, contact us:<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tCINC Insurance Brokers<\/div>\n<div>\n\t\t933 030 060 (Barcelona)<\/div>\n<div>\n\t\t972 505 100 (Figueres)<\/div>\n<div>\n\t\t972 940 940 (Girona)<\/div>\n<div>\n\t\t<a href=\"mailto:assegurances@cinc.es\">assegurances@cinc.es<\/a><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\t<strong>MORE NEWS FROM CINC<\/strong><\/div>\n<div>\n\t\t&nbsp;<\/div>\n<div>\n\t\tWe make it easy for you: protect your pet by complying with the Animal Welfare Law from only 18 euros a month<\/div>\n<div>\n\t\tAre you the owner of one or more dogs? We remind you that on 29 September the new Animal Welfare Law will come into force, which establishes for the first time at state level the obligation to have civil liability insurance for dogs. You should know that, from the application of this law, if you have not taken out this insurance, you could be fined between 500 and 10,000 euros<\/div>\n<div>\n\t\t&nbsp;<\/div>\n<\/div>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p style=\"text-align: justify;\">\n\tIn the past, when you applied for a mortgage through the bank, you were obliged to take out a life insurance policy that conditioned the granting of the mortgage loan. In reality, these insurances have higher rates than those usually offered by the market, and you end up paying a higher price than those offered through other channels, such as Insurance Brokers and Mediators.&nbsp;<\/p>\n","protected":false},"author":1,"featured_media":19802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[35],"tags":[],"class_list":["post-19801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance-brokerage"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg","uagb_featured_image_src":{"full":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",1113,361,false],"thumbnail":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377-150x150.jpg",150,150,true],"medium":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377-300x97.jpg",300,97,true],"medium_large":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377-768x249.jpg",768,249,true],"large":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377-1024x332.jpg",960,311,true],"1536x1536":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",1113,361,false],"2048x2048":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",1113,361,false],"gform-image-choice-sm":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",300,97,false],"gform-image-choice-md":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",400,130,false],"gform-image-choice-lg":["https:\/\/www.cinc.com\/wp-content\/uploads\/2023\/12\/377.jpg",600,195,false]},"uagb_author_info":{"display_name":"Pol","author_link":"https:\/\/www.cinc.com\/en\/author\/pol\/"},"uagb_comment_info":0,"uagb_excerpt":"In the past, when you applied for a mortgage through the bank, you were obliged to take out a life insurance policy that conditioned the granting of the mortgage loan. In reality, these insurances have higher rates than those usually offered by the market, and you end up paying a higher price than those offered&hellip;","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/posts\/19801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/comments?post=19801"}],"version-history":[{"count":0,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/posts\/19801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/media\/19802"}],"wp:attachment":[{"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/media?parent=19801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/categories?post=19801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cinc.com\/en\/wp-json\/wp\/v2\/tags?post=19801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}