The ideal protection for your real estate projects easyLIFE Mortgage by LALUX

Life insurance easyLIFE Mortgage
Customers/Insurances/Life/Life insurance easyLIFE Mortgage

Life insurance easyLIFE Mortgage

easyLIFE Mortgage

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Are you about to take out a mortgage to become a homeowner? Have you thought about a easyLIFE Mortgage insurance?
This is very often requested by banks, and it allows you to protect your family against financial risk.

The main purpose of mortgage or outstanding balance due insurance is to reimburse in the event of death the amount you have defined, usually the amount equivalent to the loan.  It can also be supplemented by the permanent total disability benefit. In the event of total and permanent physiological disability as a result of an accident or illness, the insurance will reimburse the defined amount.

Advantages of mortgage insurance

One or two insured persons – the choice is yours

Mortgage insurance can cover a single insured person or two insured persons, when the loan is repaid by two partners or two spouses. 

Single or annual premium – it’s up to you

For your mortgage insurance, you can choose between a single premium at the start of the loan or an annual premium.

Tax deduction: Single premium

The single premium is tax-efficient and allows you to deduct a large amount of money from your taxes depending on your age and family situation. 

Calculate the maximum deductible amount

Tax deduction : annual premium

The annual premiums are tax deductible (Article 111).  The maximum deductible limit is set at EUR 672 per member of the household.

All tax gains

Informational video

Documents

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easyLIFE Foresight

easyLIFE Foresight

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easyPROTECT Home

The comprehensive insurance that protects your home and its contents, whether you live in a house or an apartment.

Construction insurances APROBAT

The construction insurances protect your site and insures your building up to 10 years after completion of the construction.

How is mortgage insurance calculated?

The premium is the price you pay to benefit from the insurance.

This amount is individualised and takes several criteria into account:

  • The amount to be guaranteed: the insurance can cover the complete loan, or it can be adapted to the remaining capital due to be repaid over time.
  • The duration of the loan: the longer it is, the more the cover is spread over time.
  • Your personal profile: age, state of health, lifestyle (smoker or not) etc.
  • Payment method: a single premium will be different to payment in instalments.

Each contract is therefore customised. Two people who have borrowed the same amount can have different premiums because their risk profile is specific to their situation.

What tax deductions can be made for mortgage insurance?

In Luxembourg, the premiums paid for this type of insurance can be deducted from your taxable income, subject to certain conditions.

Two tax schemes according to your formula

  • With annual premiums: deductions are made up to an annual limit per member of the household. This limit also applies to other contracts (health insurance, civil liability insurance, etc.).
  • With a single premium: you benefit from higher deduction limits. These limits are adjusted according to your age and your family situation (number of dependents, for example).

This mechanism allows you to reduce the real cost of your insurance, while guaranteeing financial security for your loved ones.

Your LALUX agent can help you to optimise your tax savings and adapt your contract to your situation.