If you have life insurance associated with your home loan you will most likely be burdening a very high burden. Maybe today the weight in your family budget is not too big. However, as you get older the life insurance premium will increase greatly. In this article, we evaluate whether or not to compensate for the change of insurer, even with spread worsening.
How to do the Diagnosis?
To see if it is worth changing your life insurance, you should consider three very important variables:
- Current Premium – How much do you currently pay for the life insurance associated with housing credit.
- Current Spread of Your Mortgage – It may even make up for you to shift all of the housing credit to another bank, especially if your spread is more than 2%.
- Deed Analysis – Although the bank can not review the conditions of its spread, the pressure will be so much that it can be discouraged to switch insurers.
Have A Certainty Associated With Your Life Insurance
One thing is for sure. If you have never looked at your life insurance premium and if you have never been careful to negotiate this premium (most people do not even look at life insurance when you take out housing credit), you are very likely to be paying too much for your safe.
We have countless examples of savings over 60% . And if you consider that the contracts last for several years, imagine how much you can save (if you save only € 10 on a 30-year contract, you will save at least € 3,600, ignoring the impact of the age variation on the life insurance premium).
Make Your Accounts
Imagine that you contact Professor Moriarty’s insurance optimization service and find that you can save 50% of the monthly life insurance premium. Imagine that this savings is € 30 per month. You should now see how much you can see your spread aggravated in case of change. In most cases, the benefit associated with the inclusion of life insurance in the deed is 0.10%.
In a contract of € 100,000 at 30 years and with interest rate of 1.9%, the worsening of 0.10% is … 5 € monthly. You save € 25 every month, which at the end of the term results in a saving of at least € 9,000.
Why Not Try to Save Money With Life Insurance?
Given the above, it remains for us to ask why not try to save money on your insurance? It costs nothing. The service is free of cost because those who pay the mediators are the insurance companies themselves. So we suggest you look at how to save money on life insurance.