What is a credit insurance?
A credit insurance or a monthly coverage is an insurance who will cover you, if you can’t effectuate the reimbursement of your loan. If it is usually recommended to subscribe such a coverage, it is worth to know more about the services and the conditions of this one. Most of the loan agencies are offering you the possibility to make a basic credit insurance, but not only. You can as well subscribe a complementary one who will protect you more in case of reimbursement inability.
What is important to be careful of?
If you have subscribed a credit insurance that is included or not in your credit, it is important to be well informed concerning these following topics:
- What are the risks that are covered? Usually, a basic credit insurance will cover the monthly reimbursement in case of sickness, accident, death. In order to be covered in case of unemployment you must ask for a complementary insurance. This one will cost you a dozens of Swiss francs by month.
- What are the conditions of the bearing monthly costs? The majority of insurances are taking your monthly bearing costs from a certain time. So if you have subscribed a credit insurance in case of unintentional unemployment, the insurance will take in charge only from the third months, and this for one year length maximum.
Being correctly informed!
The most important is to be well informed concerning the credit insurance, offered by the agency or the bank who will treat your files. Don’t hesitates as well to ask for more complementary details, in order to make sure you are properly insured. In case of questions, our partner, CreditLoan will be glad to answer it, directly by phone.
