Securing construction financing with RVL

We took out an insurance policy with VKB and insured the following scenarios:

Death of my wife => beneficiary: me
My death => beneficiary: my wife
Death of both of us => beneficiary: our daughter

As far as I remember, the health questions were harmless and rather superficial. They asked about BMI (or height and weight), whether we are smokers, pre-existing conditions, and what jobs we do. I am 80% disabled and there was no problem with taking out the insurance.

And what do you pay? We took out the policy in 2016 and compared it foolishly, it always failed because of the health questions and we really have nothing earth-shattering.

We once took out 245,000 for 162 euros per year and once 150,000 for 27 euros per month .. that one was a bit more expensive due to pre-existing conditions. Allianz and Delta direkt. Why did you all take out such high insurance amounts there? Our plan was simply that the survivors receive the share the other had on the loan paid out, so they can keep the house. With a 500,000 insurance sum, I would be financially better off than before in the event of a payout, achieving that was too expensive for me.

For us, the other person or, in the worst case, the children are then stuck with the place or the others still have a few left.

Why did you all take out such high insurance amounts there?

I don't think €500,000 as a starting debt is that unrealistic. I also think it's not wrong to insure a bit more than the actual debt since inheritance tax can hit. Owner-occupied properties are tax-free, but you have to live in them for 10 years. Who knows what life will bring.

Hi,
I also dealt with the topic this week and we chose the "cross-over variant," meaning two insurances.
I (31 years old) am the main earner, my wife (also 31 years old) earns almost the same per hour but works part-time due to having children.
400/200k€ for 20 years for 21€ per month with decreasing insurance benefits. The 400k€ correspond to about 75% of the initial loan.
The policy is paid for "only" 13 years.

For me, this variant was a good compromise between security and not too high contributions.
I'm not the 100% security type. If life circumstances change significantly, some things have to be reconsidered overall.

Greetings to the group!

And what do you pay? We concluded in 2016 and compared like crazy, it always failed because of the health questions even though we really have nothing world-shaking

For 250 K insurance sum 18 euros per month.

Thanks for your tips. I have now also made a plan and obtained offers. Since I am currently the sole earner, my wife insures me for (almost) the loan amount... up to 500k probably no medical examination. The remaining 20k of the loan amount is residual risk but manageable. The insurance is linear decreasing over 30 years. At first, I thought an annuity insurance would make more sense since the loan is also repaid annuitized. However, this is apparently more expensive in terms of the premium. But then I thought that the long term should more or less compensate for that. If I finish paying off earlier, which I really hope, I can cancel the insurance if necessary. Then I insure my wife with 200k constant over 20 years. By then, the children would be 30. So it should hopefully fit. However, this really only secures the house. Therefore, I am considering whether to additionally secure my family with another policy with a smaller amount. But that has nothing to do with the house, rather with general financial security.

Oh, and in terms of price, I am at 16 euros for securing my income, although the premium is not constant and increases over time, and 13 euros constant for my wife.