Payment protection insurance (Rent and real estate)
Financial protection to keep your mortgage up to date in unforeseen situations.
At SABSEG, we offer essential support to protect your real estate investment, ensuring that your mortgage payments remain up to date in the face of adverse economic situations.
The payment protection insurance is exclusively designed for real estate professionals who need a customer acquisition tool. The insurance consists of ensuring the payment of a mortgage in case of an economic loss derived from unforeseen situations, such as unemployment, sickness, or an accident. This insurance guarantees that the mortgage payments remain up to date, protecting the holder against the risk of losing their property due to default.
The coverage includes mortgage payments for unemployment, temporary disability, or hospitalization, ensuring up to 6 consecutive payments and up to 12 alternate payments. The maximum amount of payments can be selected from €500, €1000, and €1500, adapting to the needs of the insured.
Highlights
The Payment Protection Insurance covers the main risks associated with the inability to meet mortgage payments:
Economic loss due to unemployment
Protection for workers with indefinite contracts who lose their jobs.
Economic loss due to temporary incapacity
Coverage for self-employed, civil servants, and workers with temporary contracts or reduced hours.
Loss due to hospitalization
Coverage for students, retirees, and non-contributors.
Coverages
This insurance offers the following key coverages, guaranteeing the financial stability of the insured:
- Mortgage payment due to unemployment, temporary disability, or hospitalization.
- Up to 6 consecutive payments and up to 12 alternate payments.
- Maximum amount of payments: to choose from €500, €1000, or €1500, depending on the policyholder's needs.
Frequently asked questions
Who can take out this insurance?
Anyone can take out the insurance, although the coverage varies according to their employment situation. The contracting will be managed through an authorized real estate professional.
Does the insurance cover overdue payments or only future ones?
It only covers future payments from the moment the coverage is activated; it does not cover overdue payments accumulated before activation.
Is it possible to have more than one insured on the policy?
Yes, in the case of shared ownership in the purchase and signing of the mortgage, the policy may include more than one insured.
Can I increase my coverage if my financial situation changes?
Yes, it is possible to adjust the coverage up to the limits of €500, €1000, or €1500, and it can be increased if the value of the mortgage rises.