Want to know more?
Please read the information document before subscribing to the insurance.
Different payment options and coverage possibilities
Discover how outstanding balance insurance works.
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.
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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.
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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.
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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.
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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.
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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.
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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).
Not satisfied?
For any complaints regarding our products and/or services, you can get in touch with your usual point of contact, use our complaint form, or reach out to BNP Paribas Fortis, Complaints Management Service, Montagne du Parc 3, 1000 Brussels, tel. +32 2 228 72 18, or email gestiondesplaintes@bnpparibasfortis.com. Further details are available on www.bnpparibasfortis.be/complaint and via the AG Insurance website (www.aginsurance.be)
If you are not satisfied with the proposed solution or do not receive a response within the expected timeframe, you may file a complaint with the Ombudsman des Assurances (Insurance Ombudsman). This can be done online via their complaint form, by email (info@ombudsman-insurance.be) or in writing (Ombudsman des Assurances, Square de Meeûs 35, 1000 Brussels). You may also lodge your complaint directly with this body.
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To protect yourself and your loved ones at every moment
Please read the information document before subscribing to the insurance.
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/NV - Montagne du Parc 3, 1000 Brussels - https://www.bnpparibasfortis.be -Brussels Register of companies, VAT BE0403.199.702, registered with the FSMA under this number, rue du Congrès 12-14, 1000 Brussels, and acting as a insurance agent.
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