Home Credit Life Insurance is a factor that one should take into account when taking out a loan for the purchase of a home. While this insurance may not be a fundamental necessity for everyone, it brings together several advantages to consider. Find out more.
In order to grant credit, the bank requires that you take out Life Insurance as a guarantee for the lender and the client that the loan will be repaid in the event of death or disability of the insured and that the family's finances will be saved.
Although this insurance may not be a fundamental need for all people, even though it is a requirement of the bank entity, the truth is that it has several advantages to consider:
#1. Protects your family from possible financial hardship
A Home Credit Life Insurance policy can certify, in case of premature death of the insured, that he/she leaves no debts to his/her family. Although there is no payment to family members in the event of death, since the credit union is the beneficiary, this insurance removes the responsibility for the home loan from family members if the insured dies before the loan is paid in full.
#2. Safeguarding you from the "unthinkable
There are several coverages designed to protect you against risks other than premature death, depending on the option taken, such as permanent disability for a compatible profession or activity, or a serious illness.
The disability covers will make sure that, besides the expenses related to this context, you do not still have to pay the loan.
You also have an added protection, covered in the insurance, which certifies the reimbursement of the insurance price in case of absolute temporary disability, involuntary unemployment or hospitalization.
#3. It is easy to take out
The Home Credit Life Insurance can be taken out remotely without the need to go to any sales point. In addition, medical formalities are greatly reduced and performed over the phone by health professionals, for your convenience and with total confidentiality.
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