Compared to what you get in return, a debt balance insurance is only a small cost. You guarantee your relatives a financially carefree future after your death. Moreover, you do not have to pay the premium in one go.
A staggered payment is also possible: from quarterly to yearly, depending on your options. But what if you fail to pay the premium on time?
Debt balance insurance premium: a wide range of options
The financial home situation is different for every family. As a debt balance insurer , we are fully aware of this. That is why we offer you the option to pay the premiums of your debt balance insurance as you choose. This way you can be sure of a payment plan that is 100% tailored to your financial options.
- One-off premium : you pay the premium immediately when you take out your loan. That is of course a larger sum than with a staggered payment, but often this is the most advantageous formula in case of taxation at the end of the year.
- Annual constant premium over two thirds of the term: by spreading the payment over several years, you have to pay less in one go than with a one-off premium.
- Six-monthly, quarterly or monthly premium payments : the payments are spread even more. Keep in mind the so-called fractionation costs (additional costs that are charged with multiple premium payments per year).
Debt balance insurance premium not paying: the consequences
Do you want the coverage of your debt balance insurance to remain as it was established when you entered into the contract? Then it is important to make the premium payments on time and consistently. If not, there are two options:
- If you stop paying the premiums, the insured amounts will be adjusted.
- According to the policy, do people have to pay premiums for longer than half the term, but do they stop prematurely? Then the insurer in question is forced to cancel the policy. This happens thirty days after a registered letter has been sent.
Please note: if you no longer pay premiums for the main guarantee, if the policy expires or is canceled, canceled or surrendered, then the additional guarantees also end. Do you want a clear picture of what a debt balance insurance would cost you? We are happy to explain this for you: