Loan Insurance
Loan insurance, also known as mortgage or consumer credit insurance, is a form of protection that ensures your loan payments are covered if you are unable to repay the remaining balance. This insurance is intended to protect both mortgages and consumer credits.
Loan insurance can cover (part of) your loan repayments in the following situations:
- Illness or death
- Total and irreversible loss of autonomy
- Unemployment
- Temporary incapacity for work
For example: if your insurance covers 60% of your monthly mortgage payments, it will compensate 60% of the remaining loan amount if an insured event occurs.