Term life insurance for loan protection

Hi. We have both secured ourselves as well. The entire loan amount over the entire term. The insured sum then decreases almost until the end of the loan. Altogether that is just under 20 euros per month, which should be manageable. Because if something happens, the other person at least no longer has debts/liabilities.

Thank you for the numerous responses. That helps me in forming my opinion. Would you say anything about the insurance companies? Feel free to also message me privately.

I have now selected two providers, and I will have them send me offers.

RLV can be completed in just a few clicks. Therefore, I cannot say anything about the insurances. They can probably all create new contracts.

If applicable, it may make sense to insure the partner instead of oneself. Then the money does not first flow into the estate (and may possibly have to be divided or taxed) but goes directly to the partner.

Thanks for the numerous responses. That helps me further in forming my opinion. Would you say something about the insurance companies? Feel free to send me a private message.

I have now selected two providers, I will have them send me some offers.

I would also go to an independent broker. There are some who have no direct sales; but are very attractive in terms of price. Some also have special builder rates (meaning, if the contract is concluded around the time of financing; usually up to 6 months), these are either discounted or have a significantly simplified health check.

By the way, this is something you shouldn’t omit (no matter which RLV company): carefully filling out the health questionnaires.

After the term life insurance at my house bank (where we also finance) seemed very expensive to me, I had the whole thing offered by an independent broker as well. With the same benefits, it costs me less than half at a renowned insurance company.

The arrangement of amount and term must be tailored specifically to you, or you have to know yourself what you want. The same applies to whether the insured sum should decrease linearly or like your loan. For example, we finance with a 30-year fixed interest rate and our term life insurance only covers 25 years. We also chose the regular protection and not "premium protection." For me, it must cover a financial gap in the event of death, no more and no less. We will be able to repay the loan much faster, which is why the term life insurance has the shorter term.