Protect your loan with our insurance
Borrower insurance is a contract that covers all or part of your loan repayments if you can no longer meet them due to a serious event (death, disability, incapacity for work, job loss). For consumer credit, it is entirely optional: its refusal can never lead to the refusal of the loan. Its cost is only included in the APR if it is compulsory (which is not the case for consumer credit). It is presented to you as an option you are free to accept or refuse.
Fidexico's group insurance contracts are underwritten with a partner insurer governed by the applicable insurance law. Fidexico S.A. acts as an insurance intermediary, registered with the Autoridade de Supervisão de Seguros e Fundos de Pensões (ASF), the Portuguese insurance supervisory authority (www.asf.com.pt). You can verify our registration at any time.
In accordance with Portuguese Law No. 75/2021 of 18 November 2021, which strengthens the fight against discrimination in access to credit and insurance for people who have overcome or mitigated an aggravated health risk or a disability, the persons concerned can access adapted insurance. This legislation enshrines the right to be forgotten: beyond the legal time limits, people who have overcome certain conditions (for example cancer) no longer have to declare them in their health questionnaire for consumer credit.
Available coverage
Death (DC)
In the event of the insured borrower's death, the outstanding loan balance is fully repaid to Fidexico by the insurer. Your loved ones do not inherit your debt. This coverage is included in all insurance levels offered and constitutes the minimum basic protection. It applies 24/7 and 365 days a year, without geographical restriction.
PTIA — Total and Irreversible Loss of Autonomy
PTIA coverage covers situations where the insured person, following an accident or illness, can no longer perform daily life activities alone (washing, dressing, eating) and requires permanent assistance from a third party. In this case, the outstanding balance is repaid by the insurance. This coverage is combined with the Death coverage in all our contracts.
ITT — Temporary Incapacity for Work
ITT coverage takes care of your loan monthly payments if you are temporarily unable to carry out your professional activity following an accident or illness, after a 90-day excess period. This coverage is particularly suited to working people whose income depends directly on their ability to work. It ends as soon as you resume your activity.
Involuntary job loss
Job loss coverage covers your monthly payments in the event of redundancy or other involuntary job loss (excluding resignation and mutual termination). It is subject to a 6-month waiting period from the date of subscription and a 90-day excess period after redundancy. It applies only to permanent employees on open-ended contracts for more than 12 months at the time of the claim.
Access for aggravated health risk
For people with an aggravated health risk (serious illness, disability, medical history), Portuguese Law No. 75/2021 prohibits any discrimination and provides specific insurance access procedures. If no standard offer is possible, an adapted mechanism provides access to coverage. This mechanism is free and accessible on simple request.
Secure online subscription
Borrower insurance subscription is made directly at the time of the online credit application. A simplified health questionnaire is provided. The information notice is given to you before any subscription, in accordance with the information obligations under Portuguese insurance law. You have a 14-day withdrawal period.
Borrower insurance pricing
| DC + PTIA | 0.25% of initial capital per month |
| DC + PTIA + ITT | 0.40% of initial capital per month |
| DC + PTIA + ITT + Job loss | 0.60% of initial capital per month |
| ITT excess | 90 consecutive days of sick leave |
| Job loss waiting period | 6 months from the date of subscription |
| Right to be forgotten (Law No. 75/2021) | Cancer cured for 5 years: no mandatory declaration |
| Withdrawal | 14 calendar days — full premium refund |
Frequently asked questions — Borrower insurance
No. For consumer credit (personal loan, auto loan, home improvement loan), borrower insurance is entirely optional. Its refusal cannot under any circumstances be invoked to refuse the credit. It differs from mortgage credit for which banks generally require death-disability insurance as a condition of granting. However, we recommend taking out insurance if your financial situation would be fragile in the event of sick leave or job loss.
If you have taken out ITT coverage, The insurer covers your monthly payments after the 90-day excess period of continuous sick leave. To report a claim, contact our customer service on our contact form or via your customer area. You will need to provide a medical certificate and supporting documents for your situation. If you have not taken out insurance, contact us as soon as possible to arrange an adjustment to your repayments before you find yourself in arrears.
No. Portuguese Law No. 75/2021 governs access to insurance for people with an aggravated health risk and provides for confidential procedures: the medical information you provide in the context of the insurance application is processed exclusively by the insurer's medical adviser and is never communicated to Fidexico (the lender). Fidexico only knows the final decision (acceptance or refusal) of the insurer, not the medical reasons for this decision.
Borrower insurance is optional for consumer credit. Its refusal does not entail refusal of the loan. The insurance is taken out with a partner insurer governed by the applicable insurance law. Fidexico S.A., insurance intermediary registered with the ASF (Portugal). Access for aggravated health risk and right to be forgotten: Portuguese Law No. 75/2021 of 18 November 2021.