Addis Ababa Medical College – Hargeisa Branch

Payment Protection Insurance Useful

December 2nd, 2021

The payment protection insurance in the installment loan in the payment protection insurance is a risk insurance, which protects the borrower, or the family members, if the rates of an installment loan because of death, or purchase, and disability can no longer be paid. Only death is secured in some rates, others include even the unemployment of the borrower. There are corresponding differences in the amount of the premium. The decision for or against a RSV depends of course the personal security needs, as well as the individual situation of the borrower. One should ask is this, who will pay the rate in the case, and how big the risk is, to get into such a situation. (E.g. How secure is the own workplace, what financial failures can I compensate for, against what risks am I already covered, which members must be secured, etc..) The payment protection insurance makes sense, if otherwise not hedging against Disability, death, or accident consists. Who already has a disability insurance as well as a risk-LV, or a private accident insurance, can give the payment protection insurance in principle.

Also, you should know that the posts for the aforementioned separate insurance are also significantly lower, insurance companies often provide better performance. The payment of the premium for the residual debt insurance via the credit rate, which is why the credit rate with payment protection insurance is significantly higher than without the RSV. Who completes a payment protection insurance, should read the exact terms and conditions are to be confronted not with performance exclusions in the insurance case. Martin son financial advice