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I would like to have your advice and support regarding a request I got from the bank to cover my 2a funding to purchase a house with a risk life insurance (as a collateral).
The amount in question is 107’000 CHF, I am 37years old male, healthy and non-smoker.
I would appreciate any advice or comparable info.
Many thanks in advance
The terms and conditions governing life insurance are similar across Swiss insurance providers. However, premiums vary broadly, so take the time to compare. You can compare some Swiss life insurance policies using the interactive life insurance comparison on moneyland.ch.
When using life insurance to guarantee loan repayment, getting decreasing-benefit life insurance makes sense. As you repay the loan, the loan principal decreases so you need less insurance to cover it. With decreasing-benefit life insurance, the benefit is divided by the number of years in the insurance term, and decreases by that amount each year.
Premiums for decreasing-benefit life insurance are lower than premiums for life insurance with a constant benefit.
Select the "Decreasing benefit" option under "Type of insurance" in the life insurance comparison to compare premiums based on a decreasing benefit.
