In a situation like the one that has been created in our country, tied up between the ongoing economic crisis and the ongoing revolution in the world of work, obtaining a loan can be quite complicated , especially if you are not able to present the guarantees required.
Even in this case, however, the banking institutions are now used to require insurance policies aimed at protecting them from always possible surprises. It is a request that has absolutely no final value, but that should certainly be taken into consideration by the consumer himself, as he could finally reserve him some very important advantages.
- Because insurance policies
- Benefits for the loan beneficiary
- Loan insurance: what needs to be assessed
- Read the contractual clauses carefully
- Optional policies: when it would be opportune to stipulate them
- It is convenient when the amount is quite high
Because insurance policies
The entry into force of the Jobs Act effectively marked the end of the permanent job in Italy, also according to the experts. Now, in fact, a worker can be fired for economic reasons and this opens the door to a completely new situation, which the credit system had to take into account.
Just to try to take shelter, but without denying the credit to workers who are under the new work regime, which would exclude a large number of potential customers, the banks and the financial have in fact decided to push a lot on the need by of the applicant requesting to obtain an insurance to enable them to return the sum paid even in the unfortunate event of a death or dismissal of the applicant .
Benefits for the loan beneficiary
However, it should be emphasized that the loan holder can also make a return by signing a policy of this kind, as he can set up a real safety net in the event of an accident that limits his work skills, or an illness that prevents him from to meet you for a while. The policy, therefore, can allow him to continue to meet his contractual obligations and prevent his name from being associated with one of the bad payers databases . An eventuality that could eventually bring the interested party into a situation that would prevent him from accessing credit products in the future.
Loan insurance: what needs to be assessed
The premiums of the policies underwritten in these cases, indicated by the term Cpi (Credit protection insurance) , naturally come to represent additional costs, finally going to impact also significantly on the final cost of the loan. Precisely for this reason, those who intend to subscribe one should evaluate more than one estimate in order to understand what is the most convenient formula in terms of spending.
It should however be emphasized that the safest way to understand which of the policies on the market is the most convenient with the same guarantees offered is to compare the Taeg , or the Global Effective Annual Rate, which includes both the interest rate and all the other eventual expenses and accessory charges, finally going to express the real cost of the loan.
These are indications that must be clearly inserted in the pre-contractual information . Precisely for this reason they should be requested both for the loan and for the insurance, allowing in this way to finally be able to reach a profitable choice.
Read the contractual clauses carefully
It should also be added that it would always be appropriate to read very carefully all the clauses included in the contract that you are going to sign, so as to be able to understand whether the events covered are compatible or not with the risks you want to insure or if it is the case to give life to integrations in this sense. In particular, it would be absolutely advisable to inquire if, in the event of an early repayment of the loan, it is possible to obtain the reimbursement of the premium not enjoyed and if a choice of this type foresees the payment of a penalty.
Optional policies: when it would be opportune to stipulate them
It should also be noted that personal loans are optional , with the partial exception relating to the transfer of the fifth, in which the mandatory stipulation of a life insurance policy and work risk is required by law.
In certain cases, however, the credit institution that is called to provide the loan may request that the stipulation of the policy be a mandatory condition for the provision of the loan.
This can happen, for example, when the user’s income situation does not sufficiently guarantee the bank on its repayment capacity, or when the work of the same can be judged not entirely safe or protected from possible market crises.
It is convenient when the amount is quite high
However, it can be stated how to stipulate a policy is always advisable when the amount of the loan is quite high , or for requests that exceed the threshold of 5 thousand euro. Also because in case of death of the interested party, the weight of the reimbursement would fall on his family. While it would not be appropriate to turn on one where the loan concerns not very large figures.