Credit insurance
Our documents or payment cards have been stolen - this can happen to anyone. The accident, which may cause losing the ability to work, also can happen to anyone. How then can we repay the loan, which we have recently got? In such situations, financial insurance works ideally. We can find both: insurance products against credit card theft and insurance products against the effects of unemployment.
- The insurance is often added to a standard credit card - try to check exactly its extent
- Check what is the scope of protection in the insurance attached to the loan.
Banks, with the credit card contract signed, offer its insurance. The insurance premium is usually very low. Please carefully read the agreement to see if the insurance coverage meets our expectations. In case of credit insurance (including that on the card), you must carefully read the so-called exceptions, that is, for example, reasons for job losses for which insurance company is not liable.
- Make sure you know what are the risks excluded from the insurance coverage
The insurance premium for a payment card or a loan is usually taken directly from our bank account. The advantage is that we do not need to remember about the payment of contributions. There are also NNW products (accident insurance) or travel insurance added to the card. So get acquainted with the contract, it might not be necessary to buy additional travel insurance for holidays.
- Premiums are most frequently charged automatically, so we do not have to worry about payment of instalments
- Other services such as assistance and travel insurance are frequently added to the cards
How to protect yourself for the future?
You should think about securing your retirement already at the beginning of your career. The reason is simple: the longer the saving lasts, the bigger comfort of life in the future you get. Moreover, if we put aside the money early, the savings will not become a big sacrifice for us - it is more than enough to save up to 200 PLN per month.
How to insure a house or an apartment?
When deciding on housing insurance, we do not only protect ourselves from the side effects of walls damage. We protect everything inside the apartment. The agreement guarantees us compensation in the event of theft, flood or electrical damage caused by overvoltage. Insurance is also often accompanied by assistance services.How to insure your holidays?
Leaving for vacation, holidays, or simply for the weekend we most often worry about the loss or damage of the baggage. The contract guarantees us, of course, coverage of the costs of such losses, but the insurance scope is much broader. It primarily guarantees an easy access to medical help and coverage of treatment expenses. And we all know that a sudden illness abroad is not a comfortable situation.
If you lose your credit card you should notify your bank in the first place. Bank will block the card so that the damage will not increase. Most often we do not have to notify the insurer - it’s all done on-line between the bank and the insurer. It works similarly in case of the loan insurance. After notifying the bank, your loan should "pay itself" by using insurance. Depending on the contract we have signed, the policy will cover a few instalments or even the entire loan.
Inform the bank and the insurer
The loss of a credit card must be reported to the bank. In case of a loan, the money from the policy can activate without notifying the insurer.
Compensation
The bank will block the card. If, despite that, someone used it for some transactions, the insurance should cover our losses.
Is the loan secured?
The credit insurance contract states how many instalments of the loan could be covered by insurance. Read the contract carefully before you sign it.