Life insurance for the site

The Reef
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a brief update concerning the life insurance, before i leave on holiday. I contacted several people/institutions, so hope i will get some info by the time i get back from holiday, and otherwise i’ll make an appointment with one of them on my return. What i’ve discoverd/think is that we are looking more for a ‘assurance décès temporaire’ (which is a kind of life insurance). I have the impression that a life insurance is for minimum 5 years, with a temporary decease insurance, i have the impression you’re completely free to determine the period.

for those interested: here some more info (in dutch): Tijdelijke Overlijdensverzekering: Wat is het? Hoe werkt het?

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Looks correct to me

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@reef-finance
I called one of the agencies that responded to my mail concerning the life insurance.

  • he told me that in our situation, he only sees a benefit in an insurance in case we would take a loan. You need to have created a debt, otherwise there is no insurance needed. So people who don’t have enough ‘fonds propres’ and would go for a bullet loan with triodos, could (and probably triodos would encourage that) take some kind of insurance.
  • this insurance is purely for the people inheriting from the deceased reefling, we- as a group- don’t have any benefit in that.
  • the way i understand it at this point, is that it is not clear if/who is going to take a bullet loan. Asking for a devis makes only sense if you know who is going to take it (as age, health,… play in the price) and for how much. And it would be a question to ask to Triodos
  • there is also a chance that i didn’t get what we want to insure us against and thus i might have asked the wrong questions. So if the above answer is not satisfying, please let me know against what we want to insure us.
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Hello Els, thanks for having explored this topic further. At the moment it does not look like we will be able to get a bullet loan for the property acquisition phase, see notes in this folder Login – Nextcloud
I will continue to research the loan issue and feedback should anything change.

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This does not make sense.

The non-buyers contribute cash towards a site that the buyers own. This is a debt. It will be paid back via transferring the ownership of the divided lots at the agreed-upon price. The risk we are insuring against is that one of the owners die and the heirs refuse to come through.

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The way i understood is, is that that is sth you need to arrange on a legal level, you cannot manage that via an insurance
but some others contacted me and i will ask the same questions and this one in particular…

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