Life Insurance in Spain.
Insurance Companies vs Banks

02 Feb 23

Do you have a mortgage or are you looking into taking out a mortgage in Spain? Then this message is especially for you.

When it comes to Banks and mortgages in Spain, they can be very cheeky and as a consumer, you need to be aware of your rights and not be pressured by the requirements the banks impose upon you for a mortgage.

The banks will request you to take out a life or/and home insurance in order for your mortgage to be “subsidised”, this is with reduced interest. However, we at efpg Insurance Brokers have done the maths and 91% of the time, the “non-subsidised” mortgage, (by taking out life and home insurance from an independent insurance company) is cheaper than the subsidised option.

We are living in times where every little saving helps; studies have shown that the cost of life insurance contracted through an independent Insurance Broker is 50% cheaper than through the bank. We can show you the comparison and the savings you can make.

We at efpg, as an independent Insurance Broker, are here to help you find alternatives to your home and life insurance offered by the bank with better cover and cheaper rates to help you save money. This applies whether you have just set up or you already have a mortgage.

We are specialists in Expat Insurances and in Life insurance in Spain, our qualified advisers will support and guide you through the whole process of taking out a life insurance in Spain.

efpg, Here for what matters most!