The company, which until now has offered basic insurance (cars and apartments), is starting to market mortgage insurance, which includes building and life insurance.
Since its establishment over four years ago, Libra has changed the face of the insurance industry in Israel and has led moves such as a revolution in car insurance with a shift to a kilometer-based pricing model, pet insurance with online claims payment, and more.
How much will the insurance cost?
To compare, a 27-year-old non-smoking woman who received a mortgage of one million shekels for 20 years will pay NIS 3,810 throughout the period compared to an average price of NIS 6,912 in other insurance companies.
Under the same conditions, a 40-year-old male smoker will pay NIS 21,600 throughout the entire period, while the average price elsewhere is NIS 36,519.
Israeli money bills. (credit: PIXABAY)Libra will now offer in one process a comprehensive insurance product for mortgages, which includes both building insurance and life insurance.
Etti Elishkov, founder and CEO: “Libra is leading a revolution in mortgage insurance prices. Mortgage insurance extends for many years. So, it’s important to understand what the total cost will be until the end of the insurance period. The consumer will be able to save thousands of shekels with us through a fast digital process.”