Should I review my current insurance once I have mortgage life cover?
The group credit life insurance attached to your mortgage may overlap with the life insurance you already have.
Buying a Home
Insurance Division
Set your cover in order when you buy a home.
Buying a home or taking out a mortgage
A mortgage usually comes with group credit life insurance, which changes the cover you need. We check together for overlaps with your current insurance and for any gaps.
Your concerns
Do any of these sound familiar?
I am not sure how much the mortgage life cover protects
The conditions under which your remaining loan is paid off differ by mortgage product.
What happens to repayments if I cannot work because of illness or injury?
Cover for death and cover for income while you cannot work need to be considered separately.
Can I keep paying premiums once repayments start?
Your fixed household costs change once mortgage repayments begin.
What happens
What happens when you buy a home
Mortgage application and screening
Many mortgages require you to join group credit life insurance as a condition of the loan.
Handover and moving in
For fire insurance on the building, check your mortgage terms and plan for cover to start on the handover date.
Repayments begin
Monthly repayments start and fixed costs change, which makes this a good time to review premiums as well.
Life changes
Births, education and job changes keep changing the cover you need.
Check points
What to check before you consult us
Before adding insurance, we check the cover you already have. Focusing only on the gaps keeps your household budget manageable.
What the mortgage life cover protects
Group credit life insurance pays off the remaining loan if the borrower dies, among other cases. Which illnesses and how far an inability to work are covered depend on the mortgage product.
Overlap with your current insurance
If the death cover in your current policy overlaps with the mortgage life cover, there may be room to reshape your cover.
Income while you cannot work
Basic mortgage life cover mainly applies to death or severe disability and may not cover income while you cannot work.
Public and employer benefits
We first check what public benefits, such as survivors' pensions and sickness allowances, and your employer's schemes already cover.
Insurance
Types of insurance we can discuss
We handle products from several life insurers. We listen to your wishes and explain options in light of your public cover and mortgage life cover.
- Family income life insurance
- Pays your family a set monthly amount if you die or meet the policy's definition of severe disability (it does not cover income while you are unable to work).
- Term life insurance
- Pays a benefit if you die within a set period, among other cases.
- Medical insurance
- Pays benefits when you are hospitalised or have surgery due to illness or injury.
- Cancer insurance
- Pays benefits when you are diagnosed with or treated for cancer.
* Cover and premiums differ by insurer, product, age and other factors. See our insurance solicitation policy for the insurers we represent.View our insurance solicitation policy
Flow
How it works
Book a 30-minute call
Just choose three times that suit you. No visit needed.
We listen
We ask about your family, your current insurance and what you want. It's fine to just listen and stop there.
Proposal
We recommend insurance plans suited to your needs.
Agreement
We proceed only if you are satisfied. We never ask you to sign on the spot.
Book a 30-minute consultation
Just choose three times, and our staff will call you.
FAQ
Frequently asked questions
Can I consult you while my mortgage is being processed?
Yes. Documents describing the mortgage life cover make it easier to check overlaps with your current insurance.
Should I cancel my current insurance?
There is no single answer. If you cancel, you may not be able to rejoin on the same terms. We will check the details and think it through with you.
Is there anything I should bring?
Your current policy documents and your mortgage papers help things move faster, but you can consult us without them.
Can I consult you even if I did not buy my home through BLASTMADE?
Yes. Whether you bought through another company or are still considering a purchase, you are welcome to consult us.
Contact
Talk to us about cover when buying a home
No visit needed. Just choose three times and our advisor will call you.
Hours 10:00–19:00
