If still lacks many years to pay for the house, you can save you thousands of euros with a phone call. Know how to

A colleague of mine in SIC just cut by 600 euros per year for life insurance. As? He made a phone call. That is, if even he is only 20 years to pay for the house, saved in a few minutes 12 000 euros. You can do the same. As?

You know what kind of life insurance do you have? If you bought the house using home loans, your bank forced him to hire a life insurance with disability coverage. The problem is that there are two types of insurance: the IAD (Absolute and Definitive Disability) and ITP (Total and Permanent Disability). The difference between them is huge. And that’s the difference between having to pay or not home in case of disability resulting from an illness or accident.

At the time of war spreads, around 2005, to lower the overall provision of future client banks have proposed the most secure soft spot of all. The IAD (and hold the “absolute” word) can only be activated if it is almost in a vegetative state, dependent on others for a living. This situation is rare. On the other hand, it is nothing unusual for someone having a stroke, an episode of cancer or any time of life in an accident immobilize one arm, for example, or put in a wheelchair.

There are dramatic stories of people who were the main source of livelihood of a house, they saw their incomes drastically reduced and even stayed with household spending to pay as if nothing had happened.

See what insurance they hired and change it if the covers did not meet. If the bank will ask you to make another and will double the prize. The secret is to change insurers. The market has changed so much since 2005 that now the most complete coverage can pay less than 60% is likely to pay at this time. For this, you have to switch insurer.

But note that its spread can be “chained” to their life insurance and other insurance or products. There banks that facilitate the exchange of insurance and other than the most difficult. Take in their policies and ask simulations insurance intermediaries. The internet is full of simulators. Use them, inquire and make accounts. There are cases in which even can compensate for increase the spread with saving the life insurance. In other cases, the bank may say you can not change, but reading and the writing until you can do without being penalized. Just read the small print as well.

Regularly (at least once a year) take on ALL your insurance policies and take them to a mediator a month before each renewal.

I realized, by the reaction of hundreds of Portuguese to the article “Accounts-Savings” in SIC that almost no one knew of this distinction in policies and, even worse, there are people who have suffered an accident or crippling disease and that never came to trigger the safe. Ie neither knew they could have the house paid, depending on their degree of disability.

Have your home paid or not. It’s the difference between “letting go” and be an informed consumer.

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