Job loss is not always easy to anticipate, but on the repayment of a home loan that can extend up to 30 or even 35 years, it is advisable to include this guarantee in your borrower insurance.
Loan and home loan insurance: losing your job
Most borrower insurance includes basic guarantees such as illness, incapacity or even death, guarantees linked to the borrower’s state of health but the loss of employment or more precisely unemployment is not always of the guarantees offered. It must be noted, however, that we are operating in an economy that is still not very stable, professions are no longer guaranteed for life, especially in certain fields which are more sensitive to price changes: industry, services, agriculture.
Including unemployment insurance is, therefore, a choice of anticipation and above all a reasoned choice because it is difficult, even in the safest professions, to be assured of having a profession for life. The addition of this insurance will only result in a few euros more each month on the monthly payment, insurance which can be concluded at the time of the subscription of the mortgage or even after the signature of the contract, at the time of the renegotiation of the contract. insurance (termination for one year or annually).
How to take out unemployment insurance with the mortgage
There are several ways to take out unemployment insurance, it can be done with the bank that offers the mortgage, this allows everything to be included in the same contract and avoids soliciting other organizations to obtain offers, however, better borrower insurance can hide from the competition, which is worth raising and studying.
If the mortgage has already been signed, it is possible to change insurance during the first year of subscription, at any time, or to make this change on each anniversary date. To do so, simply contact an insurance company and file a borrower insurance application, taking care to specify the addition of the job loss guarantee.
Simulate job loss insurance
It is possible to simulate job loss insurance, by taking over the guarantees identical to those present on the contract offer received or to the mortgage loan contract already signed. It suffices to specify the nature of the guarantees and the amount of the loan to be insured, as well as the details relating to the financial situation of the borrower. After validation of the request, you will receive several insurance proposals from institutions specializing in borrower insurance, so it is easy to compare contributions and choose the best offer.