Life insurance linked to a mortgage is one of the most important types of insurance for anyone taking out a loan to buy a home. In addition to being, in most cases, a requirement of the bank, it provides important financial protection for the borrower and their family in the event of unforeseen circumstances.
The MetLife Credit Protection—Life Insurancesolution , specifically designed for mortgage loans or other types of credit and offering savings of up to 60% compared to other options on the market,was developed to provide comprehensive protection. It offers coverage amounts tailored to the outstanding balance and, in many cases, results in significant savings compared to insurance policies sold by banks.
There are countless customers who, after transferring their life insurance to MetLife, have been able to substantially reduce their monthly premium while maintaining or even improving their level of coverage. In certain situations, these savings can reach up to 60%, amounting to hundreds or even thousands of euros over the life of the loan.
Why is life insurance important?
When you take out a mortgage, you are making a financial commitment that typically lasts for several decades. During that time, unforeseen events may occur that affect your ability to continue making your loan payments.
Life insurance ensures that, in the event of death or certain disability situations specified in the policy terms, the death benefit is used to pay off the loan with the financial institution, preventing this burden from falling on the family members.
In this way, not only is the acquired wealth protected, but also the family’s financial stability.
Protection designed for your family
Although the main purpose of life insurance is to ensure that the loan is paid off in the event of death or disability, its impact extends far beyond the relationship with the bank.
In difficult times, this protection helps preserve the family’s financial stability, preventing other household members from having to take on payments that could become unaffordable.
For many families, their home is their most valuable asset. Ensuring that their home remains protected against unexpected events is a way to provide greater peace of mind for the future.
Insurance that goes hand in hand with your loan
One of the key features of MetLife Credit Protection is that it is a dynamic insurance policy.
As the outstanding principal on a mortgage decreases, the insured principal adjusts accordingly, ensuring adequate coverage for the amount actually outstanding.
This solution allows the insurance to naturally adapt to changes in the financing, ensuring that coverage is always proportional to the customer's needs.
Quick and easy subscription
Signing up for MetLife life insurance is designed to be a simple and quick process.
In many cases, it is possible to purchase a policy without needing to undergo medical exams, for coverage amounts up to 350,000 euros and for individuals up to 50 years of age, subject to the insurer’s underwriting rules.
This simplification significantly reduces the time needed to complete the insurance enrollment process.
Roofs That Make a Difference
MetLife offers robust protection to address situations that could jeopardize the policyholder's financial stability.
Among the main coverage options, the following stand out:
- Payment of the outstanding principal to the bank in the event of death;
- Payment of the insurance benefit in the event of Total and Permanent Disability (TPD);
- Option to include coverage in the event of Total and Permanent Disability (TPD) through the Extra Mortgage Loan program.
These coverage options provide greater peace of mind by ensuring life insurance protection tailored to the various situations that may arise during the term of the loan agreement.
Much more than just a bank requirement
Many people view life insurance solely as a requirement imposed by the bank when taking out a mortgage.
In fact, it is an important tool for financial protection.
In the event of a serious incident, insurance can prevent family members from having to take on a large debt or, in more difficult situations, from having to sell their home to cover the financial costs.
The true purpose of life insurance is precisely to ensure that an unforeseen event does not jeopardize the family's future.
You can transfer your insurance from the bank
A common question concerns whether it is possible to change a life insurance policy purchased through a bank.
In most cases, it is possible to transfer the insurance to another insurer while keeping the mortgage under exactly the same terms.
By switching policies, many customers are able to significantly reduce their monthly insurance costs without losing coverage. In some cases, they can even benefit from more comprehensive coverage than they had before.
Before making any changes, it is important to review the financing terms and confirm any potential impact on the credit spread to ensure that the transfer actually represents a financial benefit.
Protection for Other Types of Credit
Although it is particularly popular for home loans, this life insurance policy can also be used for other types of financing.
For example, you can protect:
- Auto loan;
- Personal loan;
- Consumer credit;
- Other medium- or long-term financing.
This ensures that financial commitments remain protected in the event of unexpected situations that could affect the insured.
Request a no-obligation quote
Every situation is different. The age of the policyholders, the outstanding principal, the loan term, and the desired coverage all affect the cost of the insurance.
For this reason, we recommend running a personalized simulation, which will allow you to compare your current premium with the MetLife solution and see how much you could actually save.
If you’d like to find out how much you can save or would like more information about this life insurance policy, please contact us. We’d be happy to review your situation, answer any questions you may have, and help you find a coverage solution that meets your needs and those of your family.
Real case of savings after transferring life insurance to MetLife:
Insurance features
Quick subscription
Sign up quickly. No medical exams for subscriptions up to $350,000 and up to age 50.
Principal payment
Guarantees payment of the outstanding capital to the bank in the event of death and receives payment of the capital in the event of total and permanent disability (IAD). By signing up for Crédito Habitação Extra, you can also receive support in the event of total and permanent disability (ITP).
Insurance advantages
-Dynamicbecause it keeps pace with the outstanding capital;
–More competitiverates(up to 60% savings);
–More comprehensive protection inthe event of disability;
–Reduction in monthlymortgagepayments;
–Possibility of protecting other loans(car, consumer, etc.).
For more information, please do not hesitate to contact us.
MetLife Credit Protection
This plan is a product of MetLife.
Transparency and Monitoring
Choosing life insurance shouldn't be a decision based solely on price.
It is important to understand exactly what coverage has been purchased, the insured amounts, the exclusions, and the terms and conditions of the policy.
That is why we provide personalized support throughout the entire process, helping you analyze the various options available and find the solution that offers the best balance between cost and protection.
The goal is for each customer to make a fully informed decision, with a clear understanding of the features of the insurance policy they are purchasing.