Question by Philippe (Cahors): “We want to take out a loan with my wife. What is the most reassuring death-to-work insurance formula?”
You are right to think about taking out death-invalidity insurance. Indeed, without insurance of this type, in the event of infirmity or disappearance of one of the two co-pruniers, the other is forced to reimburse alone.
If the loan refund is provided by several sources of income, yours and those of your wife, it is preferable to insure you with the same contract. Thus, the most reassuring option is to subscribe Death-Invalidity insurance on “two heads”. She will cover your wife and you.
The reimbursement guarantees will then be a function of everyone in the loan monthly payments. Each person can be assured from 0 to 100 %. For example, if one of you two contributes 60 % to credit financing, it will be ensured for 60 % and the other for 40 %. In the event of death or infirmity of the first, the insurance will support 60 % of the monthly payments and the living spouse will continue to reimburse the remaining 40 %. And in the event of simultaneous or subsequent deaths or infirmity for the second spouse, the amount of the loan is completely reimbursed.