This mandatory insurance guarantees the payment of the capital owed to the bank in case of death or disability and, as a general rule, is contracted with the banking institution at the time of signing the loan. However, many beneficiaries are unaware of the details of the coverage, especially regarding disability, which can be IAD (Absolute and Permanent Disability) or ITP (Total and Permanent Disability).

Disability is often the most serious situation a household can face, even more so than death. When a person becomes disabled, they cease to contribute to the family income and, at the same time, significant additional expenses may arise, such as treatments, special care, and necessary adaptations to their daily life.

It is precisely in these situations that the disability coverage of your life insurance makes all the difference. Knowing and understanding these coverages allows you to guarantee real protection for yourself and your family, correctly activating each type of benefit when necessary.

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If your disability coverage is IAD (Absolute and Permanent Disability), which corresponds to the vast majority of life insurance policies contracted with banking institutions, it is only activated when the insured person becomes totally dependent on third parties for all basic functions, such as hygiene, eating, or mobility, practically in a "vegetative" state or with a disability close to 100%. In other words, any type of less severe disability, where the person cannot work but can still perform daily tasks independently, does not trigger this coverage.

On the other hand, ITP (Total and Permanent Disability) coverage, which is recommended, is much more flexible. To be activated, the insured person only needs to have a disability greater than 60% or 65%, losing the ability to work but maintaining autonomy to move around, feed themselves, and take care of themselves. This means that your family receives real financial protection, even in less extreme disability situations, ensuring that the capital owed to the bank can be paid without compromising the daily life of the family unit.

Life Insurance

Even if you have life insurance linked to your mortgage, it's important to keep in mind that this insurance only protects the outstanding capital owed to the bank. In case of disability or death, there are other concerns that are not covered, such as the well-being of your children, the stability of your home, and the insured person's own protection, since financial difficulties are not limited to mortgage payments.

To ensure security and peace of mind, it is advisable to take out additional life insurance. This extra capital can help cover current expenses, guarantee your children's education, and maintain the best possible quality of life for you and your home, even in the face of unforeseen events.

Thanks to the advice and service from DS SEGUROS, I managed to save €530 per year on my mortgage life insurance! They took care of the entire process with my bank and contact me regularly to continue advising me on my insurance.

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Thanks to DS SEGUROS I saved €245 per year on my mortgage life insurance, which allowed me to get extra life insurance and personal accident insurance for myself, saving a further €115 per year! Thank you so much for helping me!

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