Which costs are covered in the monthly payments of your credit?
The monthly payments of a credit integrate the total costs : the refund of the borrowed amount, the interests and the mandatory credit insurance.
The interests are the cost of the credit for the financial institution who lends money. The mandatory credit insurance covers the risks in case of death. If something happens to the borrower, the insurance company will take in charge the monthly repayments.
The voluntary credit insurance : coverage in case of unemployment and disability
It’s possible to contract a voluntary credit insurance that covers the borrower in case of unemployment or disability. When we are in these types of situation, it’s difficult to repay a credit.
The voluntary credit insurance is proposed with all credit made in Switzerland. It takes in charge the monthly repayments in these cases:
- Involuntary unemployment : you have to been dismissed by your employer. If it’s a voluntary departure, you’re not covered.
- Disease :if a serious ilness prevent you from working and then causes a loss of income, the insurance repays your loan.
- Accident : if an accident results to a work stoppage or a disability, the insurance takes in charge the monthly payments of your credit.
The credit insurance covers your monthly repayments from the third month of disability to pay and during a year.
What can you do if don’t subscribe to a voluntary credit insurance?
If you’are roughly unemployed and not abble to pay the reimbursement of your credit, you can opt for debt relief.
It’s a solution that allows you to adjust your budget to your new circumstances. The selected financial partner manage your debts and helps you to reestablish your financial situation.
If you want to restore your financial situation during a period of unemployment we treat you to take contact with MultiCredit, specialist in debt relief. Professional financial advisors will listen to you and help you to find a solution adapted to your situation!
The informations provided on infocredit.ch are not considered as commercial offers and do not engage our partners.
