Insurance is a form of reducing the effect of a risk that can arise by transferring it to the insurance company to bear all losses.
At this time very many people use insurance services from banks which have advantages in terms of finance. Having a title with credit insurance is very necessary to provide loan guarantees to creditors in the event of default by debtors. The creditor itself is the bank or financial institution that finances it.
The risk that will arise from the debt is an aspect where a customer cannot fulfill the obligation to pay loan installments because something like dies or can also experience total disability due to certain diseases to accidents.
For the way it works, it is actually the same as bank loan insurance with insurance in general. Each insurance user must pay a premium every time that has been mutually determined. The official value is included with the loan payment installment value or paid off together with the down payment when it was first paid.
Types of Bank Loan Insurance
In bank loan insurance, when there is a risk that arises to the borrower, it will be considered paid off for the loan value or the amount of installments he has. This is so that the family that is left behind is not burdened by the debt.
Life insurance is an insurance service that aims to cover the risk of financial impacts in the form of loss of income sources that make a person’s income land or the death of the spine. With the presence of the bank as a creditor will help pay off debts owned by the debtor.
Insurance Insurance that aims to help debtors if they are affected by layoffs by the company where they work.
Is a type of insurance that aims to provide financial assistance to debtors who are found unable to pay off debts they have either intentionally or unintentionally.
As protection insurance for customers who cannot pay off credit disbursements for the business they are running.
A form of financial loan from a debtor for the purchase of a property such as an apartment, house to shop building.
- Consumptive Credit Insurance
A protection against defaults that occur by debtors in the form of loans that have financial origin from the debtor, such as salaries or pension funds.
Insurance Insurance that is passed on to debtors with coverage does not extend to an individual. Has a way of working almost the same as life insurance which will be disbursed when the debtor dies or is totally disabled.
- Investment Credit Insurance
Insurance financing is very suitable for business players who aim to finance the purchase of equipment in running the business they own or can also be used to make updates to their equipment and open new business models.
- Credit Insurance from the Government.
Guarantee for losses suffered by banks or other financing companies for actions by debtors who are unable to pay the installments they are bearing.
You already know the types of insurance products that come from bank loans so that you can easily get guarantees for risks that may be unexpected both internally and externally.