Portuguese banks often charge up to double for mortgage life insurance compared to open-market insurers. Decree-Law 222/2009 gives you the legal right to transfer your life insurance to an external provider without losing your loan terms.
Why Switch?
Switching through an authorized broker allows you to upgrade from restrictive IAD (80% disability) to comprehensive ITP (60% disability) while cutting monthly premiums by 50% to 60%, saving over €14,000 across a 30-year mortgage.
In Summary
Reviewing your mortgage life insurance is one of the fastest ways to lower your monthly home expenses in Portugal.