Life insurance for property loans

Credit insurance

This English translation exclusively serves informational purposes. Solely the German version is binding.

Protecting your mortgage in the event of death

Protection for surviving dependants against outstanding credit debts

Often a prerequisite for banks when granting loans

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Quickly explained

What is credit insurance or credit balance insurance?

Credit insurance or credit balance insurance serves as financial provision in the event of death. This is a classic term life insurance policy. Surviving dependants can continue to pay the loan instalments with the insurance sum paid out. In the case of property loans, the bank often requires such risk insurance to secure the loan.

Your benefits

What is credit insurance or credit balance insurance?

Financial security in the event of death

Protecting your surviving dependants from debts or seizure of their home

Simple risk assessment

Only two health questions required to take out credit insurance

Help getting started with buying property

At the beginning, you pay a lower premium with the same sum insured

Linear decreasing sum insured possible

In line with the decreasing outstanding loan balance, a linear decline can be selected.

Immediate protection from day one

The insurance cover for the loan is valid from the first day, with no waiting period.

Flexible customisation options

Insured sum, term and premium Adjustable without a new health check

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Package overview

	Package Comfort

Insurance cover in the event of death	included

Immediate protection Insurance cover up to EUR 100,000 immediately upon receipt of the application, at the earliest from the start of the insurance period.	included

Insurance cover for 1 or 2 persons selectable	included

Insurance sum selectable: constant, linearly decreasing The sum insured can be chosen so that it remains the same throughout the entire term or decreases over the term.	included

Premium options available: My start-up assistance, growth clause My start-up assistance: You benefit from particularly favourable premiums at the outset. After that, an annual premium increase of 2% is agreed. The sum insured remains unchanged. Increase clause: Choose a premium increase by a certain percentage. This means that the sum insured is automatically adjusted to take into account the remaining term of the insurance. This can be revoked at any time free of charge.	included

Premium options available: My start-up assistance, growth clause

included

Emergency aid From the fourth year of insurance onwards, in the event of death, 10% of the sum insured, up to a maximum of €10,000, will be paid out immediately and without a means test as initial rapid assistance.	included

My Digital Doc see My Digital Doc	included

Premium holiday Suspension of premium payments under certain conditions with full insurance cover (e.g. maternity leave, unemployment, etc.)	included

Coverage of medical certificate costs	included

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This table is only intended to provide an overview of the services included. For complete information, please refer to the application, the policy and the respective insurance terms and conditions. You can also find our product and basic information sheets here .

Our product highlights

Ideal for building a house, buying a house or buying a flat

Insurance cover available for 1 or 2 persons

Insurance sum freely selectable: constant or linearly decreasing

Emergency assistance in the event of death

Premium breaks possible

Health advice from My Digital Doctor

How much does credit insurance for property loans cost?

The credit insurance premium depends on the sum insured and the term of the insurance, as well as the age, smoking status, occupation, height, weight and state of health of the insured person.

Case study: Real estate loan protection

John Doe works as an office clerk, is 35 years old and wants to buy a property. To do so, he needs term life insurance as security for the bank. He has no children and has never smoked, weighs 80 kg and is 185 cm tall. The term of his term life insurance is set at 25 years. The linearly decreasing sum insured is €350,000, with a premium payment period of 20 years.

Monthly premium for credit insurance: €12.40 (€10.20 including My Start-up Assistance)

Life insurance as provision for surviving dependants

A death leaves not only a huge emotional void, but often a financial one as well. In addition to ongoing fixed costs, surviving relatives must also take care of funeral expenses. Nevertheless, they want to continue financing their children's sports or studies. And they have to do so with less family income.

To ensure that the accustomed standard of living is maintained in the event of death, life insurance is a sensible way to provide for surviving dependants.

Additional protection

Other Allianz insurance policies

Traditional life insurance

With traditional life insurance, the sum insured is paid out to the policyholder at the end of the term. Thanks to the guaranteed interest rate and the profit share, which is recalculated annually, traditional life insurance is ideal for security-oriented investors.

Go to traditional life insurance

Unit-linked life insurance

A unit-linked life insurance policy is also a form of long-term capital investment, whereby your savings are invested in funds. You decide for yourself whether to opt for secure or risk-oriented asset classes. This means that a unit-linked life insurance policy offers a higher chance of profit.

Go to unit-linked insurance

Good to know

Frequently asked questions about credit insurance

Why do you need credit insurance for a mortgage?

Credit insurance provides security for the lending bank in the event of death. For this reason, many banks require life insurance for a mortgage. It also protects relatives from debt and loss of their home.

How long should the term of credit insurance be?

The term of credit insurance is generally based on the amount and term of the loan.

What happens to a loan in the event of death?

If the borrower dies, the loan debt remains. Since the loan must be repaid by the surviving dependants, credit insurance in the form of life insurance provides financial protection for the dependants.

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Credit insurance

What is credit insurance or credit balance insurance?

What is credit insurance or credit balance insurance?

Financial security in the event of death

Simple risk assessment

Help getting started with buying property

Linear decreasing sum insured possible

Immediate protection from day one

Flexible customisation options

Package overview

Comfort

Our product highlights

How much does credit insurance for property loans cost?

Case study: Real estate loan protection

Life insurance as provision for surviving dependants

Other Allianz insurance policies

Traditional life insurance

Unit-linked life insurance

Frequently asked questions about credit insurance

Customer reviews

Questions about other Allianz products?

Personal. Digital.

Non-binding offer

Report damage online

Our Download Centre

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