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Life May 20

Loan Protection

We are often quick to insure our homes, cars and valuables, but we often overlook our most important asset – ourselves.

Loan protection content

Should the worst happen to you or your partner how would the family cope?  Many base their life cover needs simply on the amount of their outstanding debt but as any monthly budget chart usually shows, the majority of one’s income tends not to be spent on servicing loans but rather on the regular family living costs such as the food bills, car expenses, school fees and electricity and water bills.  Clearly, in the event of death, these costs will remain for your family and should your children be young, it may be difficult for the surviving partner to continue to work due to the extra care your children may need.

Of course, your family could be entitled to state benefits but a cash lump sum gives an extra cushion of security at such a critical time. It’s worth adding up how much cover you have in place and working out how much you may actually need.  Amazingly, good life cover doesn’t have to be expensive and you will usually find it’s a lot cheaper than you thought.

Loan Protection Life Insurance

Decreasing life cover, or decreasing term insurance, is often a necessity when arranging a loan.

The life cover is designed to reduce over the term of the policy, broadly matching the outstanding loan amount.  As any potential payout decreases over time you will find the premium of a Loan Protection Life Insurance policy is cheaper than Level Term Life Insurance.

Level Term Life Insurance

Level Term Life Insurance provides a fixed amount of cover, known as the sum assured, which becomes payable if the death of the insured occurs within the term of the policy.


Benefit from a discount off your Home4Loan Buildings Insurance Policy when purchasing any one of our life insurance policies.

Level Term Optional Benefits

MultiPolicy Discount

Take advantage from our savings when opting to bundle your insurance policies. Benefit from our MultiPolicy Discount when you buy and renew more than one policy with us (subject to eligibility).

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Note: Life Protection plans only pay on death within the specific term of the policy, should the insured survive the duration of the policy, no benefits would be payable. These policies cannot be discontinued for cash or converted to a paid-up policy. The Perla Unit-Linked plans are life assurance policies which are tied to a number of funds. These funds and the income from them can go down as well as up and is not guaranteed, and the investor may not get back the amount originally invested especially if the plan is surrendered within 5 years from its commencement date. Past performance is not necessarily a guide to future performance. Changes in the rate of exchange of currencies, particularly where overseas securities are held, may also affect the value of your investment.


Casa Borgo, 26, Market Street, Floriana FRN 1082, Malta

Tel: (+356) 2557 9000

Freephone: 8007 2322


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Branches: Il-Mosta, In-Naxxar, Paola, Haz-Zebbug, Ta' Xbiex, Iz-Zejtun, Il-Mellieha, Victoria - Gozo

Citadel Insurance p.l.c. (Company registration number: C21550), is a company authorised under the Insurance Business Act, Cap. 403, to carry on general and long term business of insurance and is regulated by the MFSA. This website is targeted for risks situated in Malta.