Term life insurance mortgage Netherlands
When you buy a house with a mortgage, you are not obliged to take life insurance. However, based on your situation, we could advise you to take out term life insurance. Banks and mortgage lenders aim to protect themselves and clients from mortgage debts.
Term life insurance could cover the sum of the mortgage debt in the event of death. Term life insurance requirements differ per mortgage lender. For more information, please schedule a call with us.
In addition to term life insurance, it’s obligated to get building insurance covering any property damage. This insurance is mandatory, and it is an excellent addition to protect your property from any potential damages.
If you buy an apartment, the VvE (homeowner’s association) must take out building insurance. When applying for a mortgage, this is a standard check performed by Mister Mortgage.