In 2012, the Foundation has Warentest tested again for the mortgage payment protection insurance.

Anyone taking out a loan for the financing of a property receives, usually also a residual debt insurance offered. With such a payment protection insurance to the construction loan will be secured. Here are a particular form of the insurance term life insurance with a decreasing sum assured. After all, take the debt off over time. Each type of insurance, the credit against disability, unemployment, and in case of death to be secured. Especially the latter is important, so that the survivors have to take over the debt. The insurance will pay in case of emergency the members of a previously agreed amount. However, not all insurance companies cover the remaining debt completely, depending on the insurance is only part taken.

What to make of such a payment protection insurance? The Foundation has reviewed Warentest 2012 Mortgage life insurance. The test results are presented in the financial issue of the journal April 2012 test read. The most important conclusion of financial test: Mortgage life insurance, pay in the event of incapacity and unemployment are generally not useful. The coverage for the death but recommended.

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Mortgage life insurance test results

Warentest Foundation has compared 42 offers from 22 insurers with one another. The testers were based on the following fictitious case model. A 35-year-old client would like to secure a loan of € 100,000 with a term of 20 years. The cost of payment protection insurance amount in this case, depending on the supplier 800-1700 €. A comparison of the various insurers is worthwhile in any case.

What should you look for when completing a payment protection insurance?

Connect if at all only a residual debt insurance, which takes over in case of death, the entire outstanding balance. Insurance that pays only a portion of its outstanding debt, are indeed cheaper, but not worth it usually. As the price differences of each policy are large, consumers should obtain prior offers and compare prices. Current information and news on the topic of credit can also be found here: comparison of credit .

In most cases, payment protection insurance for a loss lucky

Fortunately, Mortgage life insurance is usually a losing proposition. As a rule, nothing happens and the insurance does not come into force. In this case, however, customers are not entitled to a refund of accumulated capital. That should be the conclusion of such insurance always remember.

Mortgage life insurance against disability and unemployment

Warentest Foundation generally advises of payment protection insurance against unemployment or disability. Most policies contain too many exclusions that actually pays the insurance in case of emergency is not common. Waiting and waiting times must be adhered to and also the payout period of limited duration. In addition, loans and insurance against disability and unemployment are very expensive in comparison.