Life insurance mortgage: yes, no?

Are you looking for the most suitable mortgage? Let’s advise you on whether this combination would pay off for me.


Vdegree gives

Mr. Machek, who was recently divorced for thirty years, has to secure a new home. He received an offer from a colleague from work to buy a 1 + 1 apartment for personal ownership for about 1,350,000 K. Only cash of 350,000 K is available to me and the rest would be financed through hypotenho vru.

When looking for a suitable mortgage, he was also interested in the offer in the form of a combination with kapitlovm ivotnm pojitnm, because it contained a reference to appropriate tax returns.

Poadavky a cle

Given the relatively above-average income (19,000 K net, 25,000 K gross, tax of 25%), he would find out whether and under what conditions this type of financing is suitable for him.

Ogenerally pros and cons

In the current financial market, clients have a choice of a large number of different mortgage products for financial housing. One of the assessed parameters is the method of fulfillment. There are several variants, the most used of which are annuity payments or payments in combination with another product, in our case with life insurance.

1. Anuitn splcen The fulfillment of the same amount for the entire duration of the mortgage year. The payment on the number of mortgage banks includes both payments principal vruyes and year.

a. The main benefits of annuity payment:

i. The installment is generally less than a combination
ii. in debt gradually decline
iii. years from the mortgage bank are deductible from the tax base (and up to 300,000 crowns)
iv. dn jin vzan finann prostedky

b. The main disadvantages of annuity payments

i. men daov odpoty
ii. it is not always necessary to connect at least in case of death
iii. you years rate at hypotenho vru

Current prices of apartment and rent in R. More on CENYBYTU.IDNES.CZ

2. The combination with the life insurance fee in that the mortgage bank is paid only for years from the amount paid, at the same time together with the capital life insurance and at the end of the mortgage paid to the paid principal at once. The advantages of the combination are manifested primarily in the large range of tax lions.

a. Advantages of the combination:

i. vt daov odpoty
ii. years from hypotenho vru are deductible from tax base(a do and 300,000 kroner)
iii. the paid insurance premium is deductible from the tax base (up to 12,000 crowns)
iv. The insurance system is automatically connected in case of death and thus they are protected from the need to pay the debt.
v. is mono pipojistit i zprotn od paid insurance in case of full disability
vi. often not years rate in hypotenho vru

b. Disadvantages of the combination

i. obecn vt msn spltka
ii. in the insurance is dependent on the age, insurance period and health status pojitnho
iii. the need to comply with the conditions for tax benefits for life insurance (min. up to 60 years of age, min. period of insurance 5 years)
iv. and the impact of possible future legislative changes in the field of tax deductions
v. vt sensitivity to the correct selection of specific mortgages of the bank and the insurance company

Propoty a one

In this case, it is very bad to choose a bond with which the capital bond would be concluded for all combinations. These companies have very different and at first glance unrecognizable parameters of their products.

To evaluate the deposit, imagine a mortgage bank (according to only HB), which offers the following conditions when fixing the rate years for 5 years and the maturity of the year for 20 years:

1. for bn vr (according to ANUITA only) – an annual rate of 4.2% ron, the need to take out at least risk life insurance with insurance company A in the amount of 1,000,000 K in the event of death (insurance premium 684 K), the total monthly payment would be 6,850 K

2. for vr in combination (according to COMBINATION only) – an annual rate of 3.8% ron, the need to conclude a capital life insurance of 1,000,000 K in the event of death or death
in the case of insurance company B (insurance premium of 4,600 K, according to the profit at the end of the insurance period at the expected appreciation of 4% = approx. 125,000 K), the total monthly payment would be approx. 7,780 K
or for the insurance company C (insurance msn 5.070 K, expected profit according to profit = 180.000 K), the total msn installment would be approx. 8.240 K

After calculating on the calculator, we find that the indemnity in the event of death or death (after paying the income tax) is better for COMBINATIONS for the insurance company B than for the insurance company C. This result is not related to the insurance premium, but to the costs of individual insurance companies.


Hypoindex: pay off
nyn mortgage?

Current prices apartment in R

For our client, the COMBINATION is suitable than ANUITA only if he uses a life insurance from insurance company B.

The suitability of the COMBINATION affects, of course, in addition to the correct selection, the appropriate connection of a number of other factors, most of which play the role, health, income and tax of the client, limits of insurance premiums, non-administration, etc. (In general, in most cases more suitable for the client ANUITA associated with vrovm / risk / life insurance, which will secure it similarly to KP without spoc components.)

There is, of course, the risk of future legislative changes in tax accounts, which may have a negative impact on the possibility and even the response, both in insurance, in the year of the mortgage, as well as e.g. possibly the so-called equal tax was introduced.

These changes may weaken the suitability of the COMBINATION agreed today. It is positive in such a situation that we can finance an inappropriate amount by another suitable amount, you annuity. At the same time, the negative thing is that we paid for the first year for many years, the debt for the refinancing remained in full and often left unnecessary life insurance, which is very poorly liquid.

Note: 1. Swatches are rounded for simplicity.
2. The financial institutions and products used in the example are for illustrative purposes only: Hypoten banka, ING including life insurance 1240 (insurance company A), SOB capital life insurance company TRIO (insurance company B), GENERALI capital life insurance company ZV3Y (insurance company C).
3. The detailed requirements are beyond the scope of this article and are available from the author.

Rseries and tips:

If you are considering a combination of hypotenho vru and ivotnm pojitnm, always have any adviser work out accurate and clear tips, preferably in several variants.
Do not forget to choose a suitable bond for the capital bond. The differences are often very pronounced and you can’t find them without a good detailed sweat.
The advantages of COMBINATION are very individual. What is good for one client does not have to be for another. It is possible, for example, when one has a psmo of 20% and the other 32% and is different.
Realize that the connection through the insurance company is not very effective. The reason is that the insurance company places insurance reserves firmly in bonds, which are of course mortgage bonds (HZL) issued by mortgage banks. So I have to be a year of insurance you do not receive from the mortgage.

Have you ever considered combining a mortgage with a capital life insurance? What do you think about its suitability? Drink nm, dark on your ideas and experiences.


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