Loan with insurance

Of course you do not borrow money in an irresponsible way.

geld lenen met gratis overlijdensverzekering

What happens if one of you dies, or in case of involuntary unemployment or incapacity for work? All things to take into account when you enter into a financial obligation for a longer period.
Now there are providers where borrowing money with free life insurance is possible. But, is this really cheaper? Are you really cheaper with a loan with free life insurance? We are happy to tell you what you can pay attention to.


In the past, until about 15 years ago, there were several providers where you could take out a loan including a so-called free life insurance policy. Nowadays, almost all providers, providers of “bare” loans. A loan where you are therefore always uninsured. With the arrival of a new provider, this has changed. But how beneficial is this money to borrow with free life insurance? We are happy to calculate it for you.

A calculation example for a loan with and without free life insurance

To make it transparent, we are happy to provide you with a calculation example. We assume the lowest interest rates currently available in the market and a loan amount of € 25,000 with a term of 120 months.
With a loan without the free life insurance policy the interest is 4.1%. With an interest rate with a “free” life insurance policy, the lowest interest rate is 4.4%. In the case of free insurance, this is for both persons.
To make the comparison fair, we will look at the total costs for the loan.
With the 4.1% loan you pay a total of € 30,409.00
With the loan of 4.4% you pay a total of € 30,822.79
Borrowing money with free term life insurance is therefore more expensive, actually logical, because you also get more.
The difference between the products is € 413.00. An important question is therefore what the separate death insurance costs.
If the insurance is more expensive than € 3.44 per month and you want to have the loan insured for the death risks for both of you. Then you are more profitable with a loan with the standard term life insurance.

Also pay attention to one-off costs

In addition to the premium for the term life insurance, it is also wise to take into account the one-off costs.
The Consumer Credit Act already stipulates that no costs may be charged when a loan is taken out. However, this is different for mediating insurance.
Insurance with a loan is very advantageous nowadays. This is because these products are non-commissioned products. Nothing is earned on it. Because work is being done for the advice, one-off costs will be charged to you. This can vary in amounts from € 99 to € 495. Borrowing a loan with free life insurance is therefore soon cheaper.

Knowing more?

Do you want to know what is most beneficial in your situation? We will be happy to assess it for you and we will gladly discuss the results with you. Even if you already have a loan with a separate life insurance policy, it can be advantageous to convert it into a loan in which the term life insurance policy is ‘built-in’.