In the article below we discuss the issue of credit insurance for people working abroad. Poles and Polonia are rather reluctant about any insurance. We usually associate the word ” insurance ” with unnecessary expenditure, and at the time of crisis with the fact that it does not work as we would expect. This is primarily due to the wrong types of insurance for loans and the lack of knowledge about the scope of individual insurance.
In the case of loans
Insurance is also associated with the desire to take additional products from the borrower. However, you should stand at least for a moment on the side of the bank, he also wants to protect against borrowers who do not pay installments.
Remember that insurance has a lot of exclusions and reasons why they will not be paid. Therefore, when deciding on individual insurance, it is worth knowing exactly in which cases the money will not be paid out. Sometimes the reason may be, for example, the occupation of the borrower .
It is worth noting that the sum of insurance paid in the event of unforeseen situations was adequate to what the borrower has to pay. There are in fact insurance offers from banks, which in the event of the borrower’s death would certainly not be enough for the family to fully cover the entire loan .
Such insurance can be purchased by the bank or individually. We have unlimited life insurance. In the event of a misfortune, insurance is paid from each of the insurers.
When deciding on insurance, it is worth paying attention to its scope. What does it prevent from buying insurance and what does it exclude. Of course, you can also contact professionals who will help you choose the best insurance for you. It is definitely worth thinking about insurance when taking out both short-term and long-term loans .
We sensitize to follow only the bank’s proposal with a reduced loan margin thanks to insurance. It is worth to read the detailed insurance conditions.
Insurance – is it worth it?
As we have already mentioned – it is worth considering it well. Although it increases the cost of credit, it also reduces the commission for the bank. Often, it even practically eliminates it. It may turn out then that we pay for the loan a similar amount with insurance as without it (precisely due to the lack of commission for the bank).
This option is most profitable, after all the cost does not increase and we have an additional insured loan. We don’t have to worry that if something happens to us, our family will be paying back our commitment.
Insurance – how high?
If you decide to take out insurance then make sense. You must be sure that in the event of an unpleasant situation the amount from insurance will actually cover your liability. After all, you need to be sure that you will not leave your family with a problem, despite the fact that you paid for insurance. In addition, it is worth considering its choice really well when you decide on really high loan amounts. The higher the loan, the longer the repayment and the greater the risk that insurance may come in handy at some point. Unfortunately, but different situations happen. It is worth protecting yourself and your family.
Cancellation of insurance
By taking out a loan with insurance, we increase its cost. What if we say it doesn’t necessarily have to be this way? That this is only apparent? That buying insurance can even save a large amount of money? It is so, although it is hard to believe. Many banks allow the resignation from insurance after an agreed period of time, i.e. after 3 months or half a year. After this time, you can terminate the insurance contract, the insurance amount previously added to the loan is deducted. The installment decreases, the amount of the entire commitment also goes down. The commission for the bank is no longer added. Thus, by paying insurance for several months, you avoid bank fees. The sum of the summary is that thanks to insurance you have managed to save a large amount of money, even if you initially paid a higher installment. Revelation, right?
Financial advisors – why should you use our help?
Above we have presented only a sample of our capabilities. We know banking products like no one else. We will check and compare all available loan offers on the market. We will move Heaven and Earth to find the one that suits you. We will advise, dispel doubts and answer all arising questions. Best credit terms? Negotiating them is not a problem for us. We know all the banking tips and read small print perfectly. With us you will get a loan that you will be satisfied with, not only when signing the contract, but also when paying the installments. We know what we can use to your advantage in a clash with the bank. We will also tell you what you should change and improve to be a reliable customer. We will calculate your credit standing, so you will not have any doubts whether you can afford the loan. We will also guide you through the entire loan process until you sign the loan agreement. Why use our services? Because you won’t pay for it. We receive our remuneration from the bank, but you lose nothing. On the contrary – you get help. Still not sure if it pays off? Check us out. Call, arrange a casual meeting and ask any questions that bother you.
When looking for a loan, you will come across many small problems. They are of course to be solved if you know what you want and what you care about and in addition you know a little bit about banking products. However, if you are not the best in these blocks – contact an expert. Such a person knows his stuff very well. It will relieve you. You will save time, nerves and money. And you will get the best loan on the best terms.