More and more households in germany currently have to use credit. And this, whether for the realization of large projects, or to ensure the consumption of all days. A credit application does not, however, no matter how. It is necessary to observe certain conditions established by the banks for their file to be accepted. And one of the obligations that individuals must provide to the credit institution, it is the insurance a borrower.
Loan protection insurance : what is it ?
In order to protect the money it has lent, and to ensure its perfect repayment, the bank requires the borrower to take out an insurance-dedicated insurance borrower.
This warranty is an element that plays big in the application for credit. It may depend on some kind of refusal or acceptance of the application. It is not a whim of the banks, rather it is a legal solution that allows you to secure the credit, because even if you are in a state of unable to meet your debt until the end, the insurance will take over.
Make the right choice of insurance borrower
There was a time when the banks set their own your loan protection insurance, and add it to your credit file. This can inflate the price, but, unfortunately, you have no other choice. This is no longer the case now, because a new law now allows individuals to have free choice of insurer. As well, they may accept the guarantee offered by their bank, as they can find better elsewhere. Attention, however, directing you to the second option, it will be necessary well to choose your insurance, so that it fits the criteria sought by your bank. In fact, the bank can be very demanding in this case, and if your contract does not present the same items of collateral that one the insurance of your bank, the bank may deny your loan application.
SummaryReviewerIsabelleReview Date 2017-07-27Author Rating 5