Secure home loan?

What options make the most sense from the age of 40?

Married and in the early to mid-40s, a classic capital life insurance is available for both of us, as well as disability insurance. However, these life insurances do not cover the entire mortgage financing (full repayment ~ 25 years) of €250k.

At the same time, there is an existing property in reserve. However, this cannot/should not yet be used/planned for the financing of the newly built house.
Rather, it will be available earliest in a few years (if at all).

Now I would like to additionally secure the new property for my wife if, for any reason, I am carried out of the house feet first.

But how? I am somewhat reluctant about a term life insurance from which we would not benefit later in the event of survival.
A classic additional capital life insurance is probably too expensive due to age and contributions,
and the government will eventually claim part of it anyway.

What else is left? Is there a combination product, or should one consider a fund savings plan? Or a residual debt insurance for little money and a maximum term of 10-15 years and then reassess the situation later?

What do you want now? Build wealth or hedge risk? The former you do, for example, through [Kapital-LV], for the latter there is [Risiko-LV]. The contributions are lost, but they are also very low.

Actually, it's just about securing the risk. I just thought that by now there might be an alternative that builds assets (albeit small) so that the paid-in contributions are not completely lost later, unlike with a term life insurance.

Under no circumstances get a capital life insurance. Due to the low interest phase, so little comes out of it that you might as well save the money under your mattress. Risk life insurance isn’t so bad, since it’s relatively cheap. Of course, no one wants to claim it, but if something bad happens to one of you, unfortunately that’s the case with or without life insurance. With life insurance, however, it’s definitely easier for the survivor. Otherwise, do an ETF savings plan and keep 0.5 to one year’s net income as a daily savings account for emergencies. Residual debt insurance is more like a rip-off for the customer than protection.

Make two term life insurance policies (crossed) and that way the risk is covered.

Linking capital investment and risk protection no longer makes sense nowadays ..

Don't ever get a whole life insurance. Because of the low interest rate phase, so little comes out of it that you might as well save the money under your mattress. Risk life insurance isn't that bad, since it's relatively cheap. Of course, no one wants to claim it but if something bad happens to one of you, then it's unfortunately the same with or without life insurance. With life insurance, however, it is definitely easier for the surviving dependents.
Otherwise, do an ETF savings plan and keep 0.5 to one year's net income in a savings account for emergencies. Mortgage insurance is more a scam on the customer than protection.

I agree with the ETF plan, but why should one put so much money into a savings account when it's currently getting eaten up by inflation?