BORROWER INSURANCE
Borrower insurance is inseparable from any type of credit: mortgage, car loan, revolving credit, personal loan, credit repurchase.
Its main function is to allow payment of the principal owed on the credit in the event of the borrower’s incapacity.
80% of borrowers take out their insurance with the bank which grants them credit, sometimes for practical reasons, in order to avoid too much administrative work, but more often than not, for lack of knowledge of the legislation, which now authorizes the purchase of an insurance contract with a different establishment.
Loan insurance, security for all.
When you want to borrow from a credit institution, in most cases it is necessary to take out borrower insurance to guarantee your loan. It is a security for you and your family, it is also for the credit organization: in the event of death, disability or loss of employment, it is the insurance that reimburses the establishment credit.
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