Will you soon be taking out a home loan or another loan? Then you better take out a debt balance insurance. This is not mandatory, but does guarantee optimum protection for your surviving relatives when you die.
Moreover, a debt balance insurance does not have to be expensive at all. The premium of your debt balance insurance depends on various elements. We list the most important ones for you here!
Debt balance insurance premium: one insurer is not the other
There are various elements that have an influence on the premium of your debt balance insurance . While your job or studies play a role with one insurer, the other takes your place of residence or lifestyle into account (for example, whether or not you practice a sport).
Since you determine yourself with which debt balance insurer you will work, comparing is therefore a must. With an online simulation you can perfectly determine which insurer offers you the best value for money!
Main criterion: amount of the insured capital
Although so many factors can play a role in the calculation of your outstanding balance insurance premium , there are a number of criteria that are present at almost every insurer.
The first is the amount of the insured capital . Who insures 100% of the borrowed capital, naturally pays more than who insures only half of that amount. On the other hand, there is better financial protection for your relatives.
Premium of debt balance insurance: age and smoking behavior
In addition to the insured capital, the premium of your outstanding balance insurance also depends on your age and your smoking behavior . In addition, there are often various other criteria at stake, such as your medical background . Whether medical information is requested depends on the amount to be insured and the age of the insured.
Do you attach great importance to transparency? No problem, the contract of your outstanding balance insurance always makes a clear distinction between the basic amount and any additional premium .