APRIL Credit Life Insurance – Protection for Your Mortgage
Taking out a mortgage is one of the biggest financial commitments in the lives of many families. Ensuring that this commitment remains protected against unexpected events is essential to preserving the household’s financial stability. APRIL Mortgage Life Insurance was developed precisely to meet this need, offering protection for the mortgage in the event of the insured person’s death or disability.
More than just meeting a requirement typically imposed by financial institutions, this insurance ensures that the outstanding principal of the loan can be repaid in the situations specified in the policy, thereby preventing that burden from falling on the family.
In addition to the protection provided by a mortgage, APRIL Mortgage Life Insurance stands out for its focus on health and well-being, offering a solution designed to support customers throughout the term of the policy.
Why is life insurance linked to a mortgage important?
When a mortgage loan agreement is entered into, the loan term can span several decades. During that period, unforeseen events may occur that significantly affect the borrower’s financial capacity.
Life insurance linked to a mortgage helps reduce this risk by ensuring that, in certain situations specified in the contract, the outstanding principal is protected.
This solution offers greater peace of mind not only to the borrower but also to the rest of the family, who are protected against unexpected events that could jeopardize the borrower’s ability to repay the loan.
Coverage in the event of death or disability
APRIL Credit Life Insurance provides coverage for the loan in the event of the insured person’s death or disability, ensuring payment of the outstanding balance of the mortgage loan under the terms defined in the policy.
This protection prevents the loan obligations from being passed on to the heirs or other household members, helping to preserve the family’s financial stability.
In a long-term financial commitment, this guarantee serves as an important safeguard.
An alternative for new loans or insurance transfers
APRIL's Vida Crédito is designed for both customers who are taking out a new mortgage and those who wish to transfer an existing life insurance policy.
Many customers are unaware that life insurance linked to a loan does not necessarily have to remain with the bank where the loan was taken out.
Whenever the terms of the contract allow, it may be possible to transfer the insurance to another insurer, while maintaining the coverage required by the financial institution and benefiting from potentially more competitive terms.
Potential to reduce borrowing costs
One of the main reasons many customers consider alternatives to the insurance policy offered by the bank is the potential to save a significant amount on the annual premium.
Over the life of a mortgage, even small differences in the cost of insurance can add up to significant savings.
For this reason, comparing different solutions available on the market can be a financially advantageous decision, without compromising the level of protection associated with the loan.
Simplified Hiring Process
APRIL Credit Life Insurance was designed to offer a simple and accessible enrollment process.
The simplicity of the application process makes it easier for both customers who are taking out a new loan and those who want to replace the insurance currently associated with their loan.
This process makes the switch more convenient and reduces the complexity typically associated with transferring mortgage insurance.
Who is eligible to hire?
The APRIL Vida Crédito is intended for individuals who meet the established eligibility criteria, specifically mortgage holders who wish to protect the principal amount of their loan.
This can be an option both for those who are starting a new home-buying project and for customers who already have a loan and wish to review the terms of their current insurance policy.
Prior to enrollment, the insurer will always review the eligibility requirements it has established.
The Importance of Regularly Reviewing Your Life Insurance
Over the course of a mortgage, a customer's needs may change.
Changes in one’s professional, family, or financial situation may warrant a review of the terms of one’s insurance policy in order to find solutions better suited to one’s current circumstances.
Periodically reviewing your insurance policy allows you to verify whether the coverage is still appropriate for the outstanding principal and whether there are more competitive alternatives available on the market.
This analysis can help optimize the costs associated with mortgage loans without reducing the level of protection.
Financial security for the whole family
Although APRIL’s Vida Crédito is directly linked to home loans, its impact goes far beyond protecting the loan.
By ensuring that the outstanding principal is paid off in the situations specified in the contract, the insurance helps preserve the family’s assets and reduces the risk of financial hardship for the other members of the household.
This protection is particularly important in long-term financing, where unforeseen events can occur at any time.
What does it protect?
Your safety and protection come first.
APRIL Mortgage Life Insurance guarantees payment of the outstanding balance on your mortgage in the event of death or disability.
Who is it intended for?
New home loans or transfer of existing credit insurance.
Age: 18-64
Habitual resident in Portugal
Hold a mortgage credit with the requirement:
Capital outstanding > 15.000€
Why move to April?
Because it's easy, you don't have to do anything and you can start saving straight away.
With Vida Crédito APRIL, we offer our customers more than insurance, we offer them a savings guarantee.
- Simple subscription;
- Competitive Pricing;
- Service Offer.
See the Product Sheet here
Did you know that you can save up to 40% on your life insurance compared to the rates charged by banks?
Ask us for a simulation and start saving now!
