Did you know? For 5 years now, it is possible to subscribe to a completely free income loss insurance in Wallonia!
According to recent studies, almost 40% of the Belgian population is worried about losing their job in the next six months. Whether due to the scarcity of permanent contracts, the flexibilisation of posts or the sharp rise in burn-outs, many Belgians fear impending job losses.
That is why, in 2013, the Walloon Region created a completely free income loss insurance!
Wallonia, in partnership with the insurance group Ethias, gives you the possibility of taking out insurance that protects you in the event of loss of employment or incapacity for work. This insurance, taken entirely by the Walloon Region, partially covers the repayment of your mortgage loan. As a result, every Walloon who contracts a mortgage loan to buy, build or renovate a house can apply for this insurance. However, there are certain conditions. In fact, the insured must hold a contract of employment of indefinite duration. He must also practice at half-time. However, temporary contracts in education are accepted as well as the statutes of independent.
Loss of income insurance covers the partial repayment of your monthly mortgage payments, with a maximum of € 6,200 per year. This recovery lasts for a maximum of three years and must take place during the first eight years of your loan. As a result, insurance can be up to € 516 a month in the event of a hard blow.
Even if this insurance has everything to please, it does not reap the crowds. The explanation could be that the general public is not aware of it but also that the mortgage must include € 7,500 of work in the property.
Do you need a mortgage? Do not hesitate to contact us to find out about your different possibilities. Simulate your mortgage online!