Insurance is available for everything and everyone, but is it sometimes worthwhile to take out a specific insurance? This question is certainly people who think about a residual debt insurance. Overall, this question can not be answered, but it depends on several factors.
For whom is a residual debt insurance useful?
Basically, a residual debt insurance in the conclusion of a very high loan amount is interesting, especially if only one in the family brings the money home. Mostly loans for a home or a home purchase, which require larger sums. Sometimes even the lenders require the insurance to be taken out. Thus, their risk is minimized if the borrower dies suddenly and the offspring are no longer able to pay off the loan. However, this residual debt insurance does not have to be concluded with the bank, but can also be made with an insurance company. For smaller loans, this insurance would not be recommended, because here are the relatively high cost is not in proportion to the credit.
Compare is always worthwhile
Before you take out a residual debt insurance, you should inform yourself about the costs. More than ten percent of the loan amount should not be accepted. Especially for this reason is worth a comparison, as you can make it for example on the Internet on many websites. When you take out this insurance with a bank, usually these closing costs are included in the credit installments. Sometimes the policyholder quickly loses track of things. Also, you should take a close look at the terms and conditions. Not infrequently, a certain waiting period is included in the contract. If, of course, the insured event occurs during this time, the insurance does not pay. Even in the case of unemployment, there are often certain clauses with which the insurance companies are not obliged to pay. So it’s always worth taking a closer look at the details of an insurance contract.
With an insurance comparison, every consumer can quickly and efficiently find a cheap price / performance offer on the Internet.