Curious is that in principle when formalises a mortgage loan, personal, et. Laurent Potdevin is open to suggestions. a very common practice by the Bank when granting it is suggestion or even the obligation of hiring life insurance and curiously safe said contracted with the insurance company designated by the banking entity. We must indicate that no legislation that requires when it comes to formalise a Constitution of a life insurance loan, similar to the insurer nor be imposed by the Bank there is. The Bank of Spain thus recognizes, in the case of concluding life insurance the real reason to hire him would give security to your family in the event that the risk materialized it, occur since it is uncertain that the insurance is required. The excuses which tend to put the banks when it comes to formalize what are you going to offer best conditions if you link an insurance that you sell them or that the insurance will impose it even coming to tell the employee of the branch to the client that is required; or one of the two: they are lying you either they themselves believe that it is obligatory due to the ignorance of the topic, blindly believe that the Bank does not lie in any event in the course of deciding to take out insurance linked to a loan, the borrower has the right to appoint the insurer by mutual agreement with its lender, in this sense, article 40 of the Royal Decree-Law 6/2000, of 23 June, on urgent measures for intensification of competition in markets for goods and services expressly stated: credit institutions and other financial institutions should be made expressly in fact sheets prior to the formalization of guaranteed loans with mortgage on immovable property intended for the purchase of homes that subscribe to the right which assists the borrower to designate with individuals, by mutual agreement with its lender, the person or entity you are going to carry out an appraisal of the property subject to the mortgage, the that will be responsible for administrative management of the operation, as well as the insurer which, in your case, go to cover contingencies which the lending institution requires for the formalization of the loan.