When you take out a loan to buy a property in Luxembourg, financial institutions often require you to take out outstanding balance insurance to cover your loan. The purpose of this insurance is to protect your family against the risks of death or disability that would prevent you from being able to repay your loan. The [...]
When you take out a mortgage with a bank, your banker will ask you to insure your loan. What does this mean? There are suitable insurance policies that cover the outstanding amount of your mortgage in the event of death. These insurances guarantee the reimbursement by the insurer of all or part of the outstanding amount of your loan in the event of your death.