Different payment options and coverage possibilities
Discover how outstanding balance insurance works.
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INSURANCE
Outstanding balance insurance from AG
The outstanding balance insurance of branch 21 is a Belgian death insurance policy distributed by BNP Paribas Fortis. This insurance is taken out for an agreed duration.
Not just for your loan, but more
Outstanding balance insurance is not only useful for a mortgage. It can cover other expenses and is not necessarily linked to a loan.
Think, for example, of your children's education fees.
Guaranteed repayment
You first answer a medical questionnaire. Once the contract is approved and signed, you can be assured that the loan will be repaid if ever you were to pass away before the end of the repayment period.
Single premium
If you pay your outstanding balance insurance in one go, you benefit from an advantageous premium. Moreover, you are worry free for the entire duration of your loan.
Several identical premiums
You can also choose to pay your outstanding balance insurance in several instalments (monthly, annually, semi-annually). You then spread your payments over 2/3 of the duration of your loan.
Risk premiums
If you pay your outstanding balance insurance in risk premiums, you pay a known amount each year and for the entire duration of your loan. The amount of each annual premium varies from one year to the next based on your age, the outstanding balance, the interest rate, etc.
You determine the coverage amount
If you are the sole borrower, you will naturally cover 100% of the borrowed amount. In the case of co-borrowing, you may opt for 50% coverage of the total borrowed amount. However, it is recommended to determine the coverage percentage based on certain criteria, such as the distribution of household income. This will enable the surviving spouse to continue living in the home more easily. If you refinance your loan one day, it will be possible to adapt your outstanding balance insurance.
Insured in case of disability
If you are the victim of an accident resulting in disability during your loan, by opting for "Disability Protection", you will receive a monthly indemnity of up to €1,000 for 3 years. This will help you regain your financial balance.
The scope of your coverage
The main risks covered by outstanding balance insurance
outstanding balance insurance repays the outstanding balance of a loan, in whole or in part, in the event of the borrower's death before the end of the loan;
the covered capital in the event of death is decreasing: an amortisation plan is established at the time of subscription;
outstanding balance insurance covers any death that occurs under the circumstances as stated in the general conditions.
The main risks not covered by outstanding balance insurance
the death of the insured if it results from a deliberate act or incitement by the beneficiary of the indemnity;
the death of the insured after a suicide occurring during the first year following subscription;
the death of the insured in Belgium, following their participation in a war (including civil war).
Discover the complete list of all main risks covered and not covered
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The list of risks covered and not covered above is not exhaustive. To know the exact extent of the guarantees, refer to the general conditions of this product. You can obtain them free of charge below on this page, at an agency or via the Easy Banking Centre (02 433 41 30). You can also discover the main characteristics of this insurance in the death insurance fact sheet. To receive an offer, you can contact your agency or call the Easy Banking Centre.
VIDEO
Outstanding balance insurance
Don't burden your loved ones with a loan
Want to know more?
Please read the following documents before taking out outstanding balance insurance:
Not satisfied?
If you have a complaint, you can address it to: BNP Paribas Fortis SA, Complaint Management Service (JQABD), Montagne du Parc 3, 1000 Brussels. Tel. +32 2 228 72 18, e-mail: gestiondesplaintes@bnpparibasfortis.com or via the online form available on www.bnpparibasfortis.be > Suggestions or complaints > online declaration form.
If the proposed solution does not satisfy you, you can address your complaint by post to the Insurance Ombudsman Service, Square de Meeûs 35, 1000 Brussels, BCE: 884.072.054, tel.: 02 547 58 71, info@ombudsman-insurance.be - www.ombudsman-insurance.be.
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Fixed capital short-term death insurance
In the event of death, a sum you fix in advance is paid to the beneficiary of your choice. This enables them to face the financial consequences of your death with peace of mind.
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Legal protection insurance for fire damage
This legal protection insurance provides you with legal assistance in case of problems related to your home. Specialists help you assert your rights and the costs are reimbursed if you do not reach an amicable solution.
Legal Information
AG Insurance (in short AG) SA – Bd E. Jacqmain 53, B-1000 Brussels - www.aginsurance.be - info@aginsurance.be - RPM Brussels – VAT BE 0404.494.849 - Insurance company approved under code number 0079, under the control of the National Bank of Belgium, Bd de Berlaimont 14, 1000 Brussels.
Intermediary: BNP Paribas Fortis SA – Montagne du Parc 3, 1000 Brussels – RPM Brussels – VAT BE 0403.199.702, is registered under this number with the FSMA, Rue du Congrès 12-14, 1000 Brussels, and acts as a tied insurance agent, remunerated by commissions, for AG Insurance SA. BNP Paribas Fortis SA holds a stake of more than 10% in AG Insurance SA.
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