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How to choose mortgage insurance

Broker insurance cheap loan via its website informs and guides you throughout your search process until the establishment of the loan insurance contract in order to compare and choose the best mortgage insurance.

Why take out loan insurance?

When you subscribe to a loan real estate or consumption, the banker requires loan insurance covering the risk of death, disability, and the stoppage of work. This measure is necessary to avoid pass to the heirs a liability and also protect the Bank in case of realization of one of its risks so that the debt be honoured.

Can what types of guarantees we find through loan insurance?

All of the approaches one guaranteed compulsory; death and disability to 100% (partial). Shall be deemed to invalidate 100% all persons with assistance to a third person for washing, move, dress and cannot perform a professional activity. The disability rate is determined by social agencies. Then the optional but guarantees often required; Interrupt work total (ITT) the insured is not invalid but off work due to sickness and accident. This warranty is often involved as the 91st day of judgment. (IPP) partial permanent invalidity; the insured at a rate of 33% which corresponds to the 1st category of social security. In many loan insurance contract, the insurance does that from 66% disability so having this warranty IPP is preferable. Guarantee unemployment: it is a guarantee that the banker may require if it considers that the record is deemed limited as the debt ratio.

How sure a home loan?

Often there are two borrowers, should be then covered to the maximum the spouse with the biggest income for do not leave too much debt for survivors. It’s called the proportion. Example; It covers borrower 1 to 100% and co borrower to 50%. It is essential to reach agreement with preferred lender before applying a any distribution on its loan insurance contract.

Where to find the best loan insurance?

This important market is in the hands of bankers because consumers were unaware until now the possibility to purchase elsewhere. Bankers took advantage of this monopoly to charge excessive rates but as of 01 January 2010, a law will be passed for borrowers and finally they will have the legal freedom to choose their loan insurance contract provided that the guarantees are identical to those proposed by the Bank. For the subscription of loan insurance; the ideal is to seek advice from brokers specialize in insurance loan they represent different organizations and will not promote one brand to another but they will adapt the company according to the age, the occupation, medical history… the client until you find a solution.