Mortgage life insurance: which sum insured is actually recorded?

Start with the statutory framework

Decree-Law 222/2009 provides for a sum matching the debt in article 5(4). Article 6 permits different arrangements, with a declaration signed by the borrower.

Article 7 provides for timely debt notification by the bank and immediate insurer updates, effective from the debt change, with payment adjustments. It also covers insurers chosen by the consumer. Article 8 requires updates to be reflected in premiums.

Ask which framework applies before concluding that updates depend solely on an annual request. One product clause does not establish that the statutory arrangement was validly replaced in your case.

Sources: Diário da República — Decree-Law 222/2009, articles 5–8, consolidated text; checked 29 October 2026 ↗

Read the specific clause in that context

Clause 17 of Allianz Vida Crédito wording 1904, dated August 2024, describes a sum without automatic debt adjustment and an annual update option. This is a specific contractual example.

It does not establish that every policy works this way or that a discrepancy in your documents is correct. Collect the policy, amendments and records of the arrangement selected, to clarify how the chosen terms relate to the applicable framework.

Sources: Allianz Vida Crédito — wording 1904, clause 17; product example ↗ · Diário da República — Decree-Law 222/2009, articles 5–8, consolidated text; checked 29 October 2026 ↗

Compare equivalent dates

Fictional example: Inês has a recent loan statement while Rui opens an insurance page saved last year. The figures differ, but the documents describe different points in time.

They create two rows: the loan balance on an identified date and the sum insured in the current policy version. They add issue and effective dates, then ask which document is current, what communications passed between bank and insurer and how any difference is explained.

Record the request, reply and outcome

If you request clarification or correction, retain the reference and reply. Ask for the effective date and the document confirming the recorded sum. An unanswered request does not establish that the record has changed.

Also check the premium explanation. A smaller insured sum does not let you calculate the next insurance instalment by simple proportion: the comparison must consider the remaining components and terms. A saving should not be promised solely from the difference between two insured sums.

Prepare a quotation with a specific question

When comparing a new proposal, identify what needs clarification: the insured sum, updates, covers, insured people or cost. A useful comparison makes those elements equivalent before choosing the first monthly figure.

RMACHADO can help organise the assessment through “Request a quote”. This guide does not determine breaches or amend your contract. Loan documents and personal details belong in the appropriate channel, away from public comments and social networks.