The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
A personal loan has a fixed term, a fixed amount and a fixed monthly instalment. With revolving credit the interest varies and you can redraw amounts you have repaid. What you actually pay depends on the term and the interest rate together: a lower instalment over a longer period ultimately costs more. Both forms are registered with the BKR (the Dutch credit register).
Unlike a mortgage or a leased car, there is no security behind it, so the lender imposes no insurance requirement. However, a payment protection or life cover is often offered alongside it. First check whether you are not already covered through disability insurance, a WIA top-up from your employer or an existing life policy.
An existing credit agreement also reduces your mortgage capacity; see calculate your maximum mortgage. We do not broker credit, but we do assess the insurance sold around it.
Please note: borrowing money costs money. Finass Advies B.V. holds a licence for non-life insurance and does not act as an intermediary for credit or mortgages. This page is informative. For an application we refer you to a provider with a licence for consumer credit or mortgage credit. Every licensed provider consults the BKR (the Dutch credit register) for credit of € 250 or more with a term of longer than one month.
What does borrowing money involve and what should you look out for?
The structure of the cover in three parts, with an overview per situation below.
In advance
What you need
What a lender asks for.
Income details
Value of the collateral
Overview of obligations
In addition to the interest
What it costs
What is often forgotten.
Advice and arrangement fees
Valuation and notary
Property transfer tax
Conditions
What goes with it
What the lender requires.
Buildings insurance compulsory
Sometimes term life cover
Interested party on the policy
What is covered
Subject
Explanation
Advice is independent
Yes
We compare several providers
Yes
We arrange credit ourselves
No
Referral to a specialist party
Yes
A first conversation without obligation
Yes
Costs clear in advance
Yes
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Credit feeds through into your mortgage capacity
Credit is registered with the BKR and, on a mortgage application, counts with a notional monthly payment, whatever you actually repay. Revolving credit weighs more heavily than a fixed-term loan, because you can draw down the limit again. Private lease and maintenance payments also reduce your capacity. Repaying only helps if the registration has actually been ended.
Payment protection: first look at what you already have
Cover against incapacity for work or unemployment alongside a loan sounds logical, but often overlaps with existing arrangements. Note the exclusions: there is a waiting period before payment starts, unemployment is excluded under a temporary contract, during a probationary period and where you resign, and conditions that already existed at the outset are excluded.
What happens if you die
Consumer credit does not lapse on death. The debt passes to the estate. Heirs can accept an estate under benefit of inventory or renounce it, but that also affects the assets. Life cover avoids that choice. Answer the health questions in full: under Articles 7:928 and 7:930 of the Dutch Civil Code an incorrect statement can cost you the payout.
Borrowing does not solve a gap in cover
Borrowing money to pay an excess, an arrears of premium or an uninsured loss moves the problem into the future and increases your fixed outgoings. If you borrow for a car, third-party liability insurance remains compulsory under Article 2 of the Dutch Motor Insurance Liability Act (WAM) in any event. If you borrow for refurbishment work, weigh that against a building deposit with your mortgage.
What does your premium depend on?
Age when the cover starts. Together with the term, this determines the premium for life cover.
Smoking. Smokers and non-smokers are rated separately for life cover.
Sum insured and term. Match both to the outstanding balance of the loan, not to the original amount.
Occupation and type of contract. For the unemployment element, permanent employment is almost always a condition.
Waiting period chosen. The longer you bridge the first months yourself, the lower the premium.
Decreasing or level sum insured. A decreasing sum follows a reducing loan and is therefore cheaper.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Does revolving credit count on a mortgage application?
Yes. The BKR records the limit and the lender applies a notional monthly payment on that limit, even if you have drawn down nothing. An unused credit facility therefore reduces your maximum mortgage. To avoid that, the credit must not only be repaid but also formally ended and deregistered.
Do I have to insure a loan?
It is not compulsory, because there is no security behind it. Do consider what happens if your income falls away through incapacity for work, unemployment or death. You often already have cover through disability insurance, a collective scheme run by your employer or an existing life policy. Double cover means double premium and no double payout.
What happens if I become unable to work?
The obligation to pay remains. Payment protection can take over the instalments temporarily, but only after the waiting period and only if you meet the conditions. Conditions that were already present when you took it out are excluded, as is incapacity caused by intent. Self-employed people are also usually excluded from the unemployment element.
Does Finass broker loans?
No. We advise and act as brokers on general insurance and refer you for credit to a specialist firm with a credit licence. We do take a critical look at the insurance offered alongside a loan: is it needed, does it overlap with what you already have, and are the exclusions acceptable for your situation?
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
