LOAN PROTECTION LOAN REFINANCING
Loan protection is the best lifeline as loan payment buttons
Loan protection is like a kind of rare animal, many of which have seen such a glimpse, but still seem so strange.
In fact, it is one of the most useful tools when ice is unemployed or when you are in an accident . Loan insurance essentially costs your loan payments until you resume solvency.
Let’s talk more about how it works wonders, and how to get a loan insurance for yourself.
How does insurance work?
Loan protection is the reality of a widespread life insurance package is one part. The sum insured is for outstanding operations and loan insurance, you can take a loan application (not later if you already have a loan).
Namely, if an accident would happen to you, you will always repay the loan insurance .
Loan protection is the most common form of large mortgages and home, but some insurance companies offer loans even for small loans. One of them, for example, TF Bank, which provides insurance to its customers.
Are you afraid of the future? Get a loan company where you can get loan insurance
What are the loan terms insurance compensation paid?
Unlike lenders (and insurance) from pretty good, but the terms are similar. Here are some basic concepts that you should know.
- To get insurance you need to be in full working capacity. Therefore, you may not get a loan insurance cover for those who have no problems and serious illnesses, of course, it is not possible to get an insurance loan if it is already ill.
- Insurance can be done for a certain age . For example, SEB Pank does not do insurance for over 55 years. TF Bank, 60 years maximum.
- Insurance is usually paid for up to one year. This means that if, for example, an unemployed person and his / her insurance cover unemployment benefits, the insurance company pays the lender for their loan payments annually.
- Insurance matters are waiting . This means that the fee after the waiting time, for example: if you have an accident, and waiting time of 30 days, will be paid if your disability lasts at least 30 days.
- Different insurance companies have different requirements for how long you need to work permanently in the company. MoneyGlass family, for example, requires at least four months before the development of TF Bank expects, however, that it would be developed at least 22 hours a week for 365 days in a row.
- If the accident is probably important that he was actually an accident, the incident did not happen because of an error (eg drunk). Usually do not consider professional athletes.
Loan insurance against loan repayment insurance – do they change anything?
A good child still has several names, and so is credit. Different companies are able to fulfill various terms of insurance, loan repayment insurance or loan insurance .
Although it might be thought that different services exist, they are still largely the same. The only difference is generally that is also typical of any loan and insurance product.
It is important to note that, for example, Swedbank’s credit and loan repayment insurance, two very different things:
- Loan Protection Only the absence of life insurance cover and the protection of your ability to work.
- If you take out loan insurance loan repayment insurance , cover the remaining capacity for work and unemployment.
The two also differ in that the loan is paid out for the benefits of the Bank , while the loan repayment insurance benefits paid to you. Either way, the insurance pays nicely for the loan payment to avoid the possibility of payment difficulties.
How much insurance will the loan cost quickly on the loan?
Of course, you should take into account that the credit card monthly payment , which is usually loan refinancing included in your monthly loan payment. So your monthly loan payment insurance will change.
Support depends on your age (And other health problems – for example, if you have a chronic illness, your insurance premium is significantly higher) The remaining loans and the sum insured .
Any loan companies that offer insurance are, of course, different prices, but we made a small sheet of Swedbank forecast that the payment is as follows:
Perhaps then, in essence: a € 50,000 sum insured for a 30-year-old man, a loan repayment insurance sum of € 200 is paid each month for about € 20 .
Talking about the price, some banks, including Swedbank, offer some advantages . Swedbank due to be a credit-10% discount on a whimsical healthy lifestyle. Overall, the bank’s generous generous 25% discount, which in the end is quite a significant amount.
If your decision to pay for a game, it will pay off as a loan / bank gives’re also sort of away.
Is insurance always a wise choice?
Everything looks good, isn’t it? If the ice is unemployed, the insurance will pay your loan payments and you will get less stress.
Pretty so floral life, however, did not happen, and if a family member or even the destructive results of a fatal accident alone can not borrow to save in financial trouble. It should be remembered that the bank loan is not just a commitment to the family. It is quite likely that the family has other financial obligations, children, food prices and groceries and loose.
So if your goal is to save the family is applying for credit insurance in financial trouble, if something should happen to you, But unfortunately can not help .
It should be, what about family life in general? It cannot be ruled out that loan insurance is really the best option, but in fact it is the same as life insurance as a whole. As mentioned earlier, a loan protection life insurance policy mainly for life to be even more useful, at least in some insurance.
Unemployment can redeem a loan vacation
If a serious favorable loan accident, not alone credit insurance mitigate the economic situation, it will help loan insurance in case of unemployment dramatically – albeit only when the loan is insurance indemnity for lost work.
But there is another solution except for insurance – a holiday loan or an extension of the loan period.
If the credit defended itself from potential problems to offer you the loan will help if there has been a serious problem .
In each case, the borrower gives the company a vacation credit, be it a few months or even a year. The higher the loan, the more likely you will get a longer vacation loan. Unlike you, however, you pay a credit loan extension fee if needed.
Look for companies that offer the opportunity to extend a loan!
Finally, of course, the decision depends on you, your family and your life, but in any case you should before thinking about having a loan potential in black scenarios. Protect yourself as much as you can to ensure that in the worst case, back in your pocket is a trump card that will help you overcome difficulties.