There is no doubt that financial problems are a topic that is often discussed. Nevertheless, it is still a topic that raises some doubts. Let’s take the example of buying credit insurance – is buying credit insurance good? One may be tempted to state that this is a question to which various answers may appear.
Nevertheless, opinions are one thing, and reality is another, and most importantly, the reality is the most important thing.
Credit insurance increases costs
However, let’s start with the borrowers’ approach – if a person gives up something, something had to cause it (at least in theory). Of course, people are different and hence the same can be said about the approach, but one thing seems certain – the desire to save.
After all, financial problems force you to think about saving, and this can result in many ill-considered decisions (after all, you can’t always save).
It is also worth asking yourself if I know what credit insurance is? Probably not everyone will agree with this, but people do not always know what to expect. Getting to the point – loan insurance is a sense of security (this applies to borrowers and lenders).
As for the details, the occurrence of a specific event causes the insurer to pay the debt.
When is it worth buying them?
It is possible that the question arose when buying insurance is a good option? In fact, it is difficult to say something, insurance is simply to minimize the risk (which has already been said).
It can be said that the future verifies whether credit insurance made any sense.
Anyway, it may be worth taking a look at other insurance – when do we insure your home, car or our loved ones? It seems that the answer to this question should explain a lot.
Of course, you must remember that the most important are the details. If you’re interested in popularity, the most common types of insurance are life insurance, sickness or permanent disability insurance, and job loss insurance.
Is there a chance to give up the purchased insurance?
Let’s assume that the purchase of insurance took place, but after a while, there was a desire to resign – can there be any problems in case of resignation? First of all, it should be emphasized that the following situations should be distinguished:
- The insurance premium is included in the monthly installment,
- The insurance was paid in advance,
- The loan was repaid earlier.
In the first situation, there are no problems. As for situation number two, it is a little different – to be precise, the only way out is to apply for a refund of insurance. You must also remember that the reimbursement covers unused insurance coverage (this is not something that should surprise, but a reminder will never hurt).
Regarding the early repayment of the loan, it is enough to read the content of article 813 of the Civil Code.