Mortgage protection via RLV?

How do you secure your family for emergencies? Do you have a [RLV] or something else? Which [RLV] variant is recommended? The one with a constant sum insured or the one with a decreasing sum insured (especially for securing mortgage loans)? Thanks to you for the answers...

Hello,

how is your family protected without real estate/mortgage loan? There are quite different approaches/concepts, and you probably already have some kind of protection in place.

We have arranged it so that the other person (whether accident or death) can initially support the family and the property can definitely be maintained. In doing so, the share of income (more from him) and the share of childcare (more from her) can be balanced out for a certain period, and the approximately required share of the property is secured. Of course, the overall development of the children (age, possibly education/studies ...) is also taken into account. We were able to relatively easily increase the existing insurances during the house construction, so we did not further concern ourselves with the decreasing insurance sum. Additionally, our consideration was that to a similar extent as the protection of the mortgage loan decreases, the theoretical effort for the family increases.

Best regards

Michael

Hello

we have chosen a decreasing sum in the RLV. However, we already have other long-term supplementary insurances.

There are no other insurances so far. There has not been a need for it yet (no children, no other obligations). Of course, I do not want to insure the same risk twice...

Double is relatively speaking in this context. And I would base it not on the risk but on the amount of damage. You have a "basic damage" that one of the partners is left alone and has to manage with their income (and possibly less income, because more time is required for the children). You have this regardless of the property. For the property, the potential damage that one of the partners should be able to hold the property alone is added. Therefore, a declining insurance sum can make sense here (and a division).

If there are no children yet, you can, of course, make the whole thing more flexible. However, if children are planned or at the latest when they are there, one should, in my view, rethink the issue.

None of us can hold the property alone. Or are you only talking about the ongoing costs? We can only manage the loan payment of 1400 EUR per month with two salaries...