Real Mortgage Life Insurance

Mortgage life insurance is a policy linked to a home loan that guarantees repayment of the amount owed to the bank should the insured person die or suffer a serious disability.

Yes. Decree-Law No. 222/2009 allows the transfer to an insurer with more advantageous conditions, even during the term of the contract.

It covers Death and Disability (with Total Permanent Disability up to age 67), allows automatic updating of sums assured, fast risk assessment and continuation up to age 85.

After fully paying off the loan, you must notify the insurance company.

The insurance policy must accompany the term of the loan and respect the upper age limit (typically age 85), guaranteeing appropriate protection throughout.

Get a quote for your cover and sums assured, include TPD, read the pre-contractual information and the General Conditions, and speak to a Real Vida Seguros specialist agent for personalised support.

Before taking out the policy, information must be provided regarding the cover options and their respective premiums, payment methods, applicable charges, the tax regime, and any potential benefits.

The policy must state the start and end dates, premium, payment method, sum assured, insured persons, beneficiaries, and contracted cover options, formalizing all legal rights and duties.

It depends on the sum assured, the risk profile (probability of a claim), age, additional cover, and exclusions.

Total and Permanent Disability (Own Occupation) covers an irreversible disability equal to or greater than 60%, resulting from an accident or illness, which prevents the Insured Person from working in their own occupation or any other lucrative activity compatible with their capabilities.

It protects the family and assets: in the event of death or disability, the insurer pays off the debt, sparing the heirs from charges, preserving assets and ensuring financial stability for the beneficiaries.

Yes. In the event of death, the difference between the sum assured and the outstanding debt is paid to the designated beneficiaries.