It offers free, no strings attached 90-day cover on exchange of contracts, allowing customers to assess their eligibility by asking nine questions. It does not require any lengthy forms to be filled out and no medical appointment data needs to be shared.
This product uses information provided through the usual mortgage journey and it is flexible allowing consumers to increase or decrease their cover, or pause or cancel their policy at any time from their Habito dashboard.
The product is opt-in, which means that if customers decide to keep the policy, they update their profile on the Habito dashboard and choose to pay for life insurance after the free period.
Habito Life Insurance is available exclusively to Habito customers. The company will use information already given in the mortgage application process, plus the few extra questions, to create an easily accessible optional add-on.
Habito has worked closely with RGAX, part of the global life and health reinsurer RGA, to design its life solution.
Daniel Hegarty, founder and CEO of Habito (pictured), said: “We know that when you buy a home, your first thought should be what colour to paint the walls, not worrying about who’s going to pay the mortgage after you’ve gone.
“Our life insurance offers accessibility, convenience and flexibility like never before, and three months of free cover means our customers can have complete peace of mind as they settle into their new homes.”
Nicola Dryden, partnerships director at AIG Life, said the team is pleased to be working with Habito.
He added: “Homeowners need life insurance in place to look after the family when they buy a property, so it is essential the application process is as easy as possible.
“Habito’s simple, free life insurance offering takes some of that worry out of the house buying process.”