Secure your loan
Are you buying a property in Luxembourg? We secure your loan with outstanding balance insurance.
BUYING A HOME AND INSURING YOUR MORTGAGE
Buying a property is a key step in your life. It is usually financed by a mortgage. Being safe in the knowledge that your loan is covered should an unfortunate event occur is essential for total peace of mind as you embark on your new adventure!
What is Outstanding Balance Insurance (ASRD)?
Outstanding balance insurance covers a home loan and guarantees repayment of the loan to the bank in the event of death or disability. Although not legally required, outstanding balance insurance is strongly recommended.
Une solution Cardif Lux Vie personnalisable :
- Number of policyholders: you can take out your policy alone or as part of a joint policy (spouse, partner, co-borrower, etc.)
- Amount of capital to be insured: you can adapt levels of cover between insured persons
- Repayment duration and premium frequency: single premium or periodic premiums (annual, half-yearly, quarterly or monthly). This method of payment will have an impact on the tax deductibility of the premium (different section on the tax return).
- Different coverage options.
- This insurance can be reused for another loan.
The premium is calculated on the basis of the sum insured, the duration of the policy, the age of the insured party and his/her state of health. Depending on the amounts to be covered, medical formalities are required by the company
The premiums are tax-deductible
Outstanding balance insurance premiums are tax deductible for clients who are Luxembourg tax residents or equivalent to Luxembourg tax residents.
