Outstanding balance insurance

Why take out an outstanding balance policy?

Have you just bought a home for which you have borrowed money? Then, of course, the bank will want you to repay that loan. This may become difficult, however, if you or your partner die and one or more salaries are lost. An outstanding balance policy can then help you out.

An outstanding balance policy is a life insurance policy that is linked to a loan (often a home loan). If you die before the full amount of the loan has been repaid, your outstanding debt will be fully or partially paid off. In this way, no one has to pay off your loan, and your loved ones are also exempt from potential costs.

To what should you pay attention when taking out an outstanding balance policy?

When taking out a (home) loan, many people also take out an outstanding balance insurance that their bank or credit provider offers, because this gives them an extra discount on the interest on their loan. You should, however, consider this in a little more depth. The advantage of your lower interest rate is, in fact, often lost due to the cost price of the outstanding balance insurance that the bank imposes on you. We will be pleased to help you compare the options of various insurers with the proposal of your financial institution.

Why take out an outstanding balance policy with Van Dessel?

• It is not an easy task to assess the financial impact of your death in a sober and realistic manner. We can provide professional advice that takes your personal situation and wishes into account.
• Through working together closely with insurance companies that specialise in this subject matter, we can offer you top products at very competitive rates.