Individual customers

Mortgage loan insurance

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Protection of the Insured in the event of unexpected events and financial security of the family.

A mortgage is a commitment for many years, during which an unexpected event may prevent you from repaying installments. Mortgage insurance will give a sense of security to the Insured and their family.

Mortgage insurance distributed through Bank Millennium S.A. includes:

Benefits in the event of an insured event


We guarantee that 100% of the sum insured will be paid to the beneficiary in the event of death or permanent and total disability. In the event of death as a result of an unfortunate traffic accident in the insurance cover option chosen by the insured, the sum of this insurance may be increased by PLN 50,000. If the insurance also covers the loss of employment, we undertake to pay a benefit of up to 12 monthly mortgage installments or a maximum of PLN 60,000 after meeting the terms of the contract.

Insured risks


The main risks covered by our mortgage insurance include death, including death as a result of an accident (with the possibility of increasing the sum insured in the event of death as a result of an accident) and permanent and total disability. Optionally, the insurance may also cover the borrower's loss of employment.

 

Is every mortgage insured?

Life mortgage and/or unemployment insurance is mandatory in some banks and optional in others. Very often, however, lenders make the granting of a mortgage loan conditional on the purchase of insurance for it. If mortgage insurance is optional, the bank may offer better terms to the borrower after purchasing it. The latter are not the only benefit that mortgage insurance provides. In the event of the borrower's death, such insurance protects the borrower's family against the inheritance of debt. Mortgage insurance, on the other hand, will ensure continuity in repayment of installments for the period specified in the contract, which can protect the borrower from the loss of property caused by mortgage debts.

Detailed information on mortgage insurance can be found in the documents below.