When we obtain a loan, It's important to be able to repay your loan despite the ups and downs of life. The borrower may be subject to a case of unemployment, If you are unable to work due to an accident or illness. With monthly payment insurance, you protect your salary no matter what!
Monthly payment insurance to leave nothing to chance!
The unexpected is part of life, and it's important to know what cover is available to suit your needs. Although optional, monthly payment insurance is of the utmost importance, as it protects the borrower against possible upheavals such as inability to work due to illness or accident and unemployment for example. Your monthly credit payments are therefore taken care of according to the terms of the contract.
Why insure your loan?
In the event of unemployment, if 70% of the last salary is legally insured, with a monthly income of CHF 5’000.- this represents a loss of CHF 1’500.- each month. However, day-to-day fixed costs remain unchanged! In the event of illness, the gaps can in some cases be even greater, leaving no margin for continued payment of bills or other expenses. monthly credit payments.
Did you know that from CHF 1.- per day, you can maintain your salary no matter what?
To find out exactly how much you will receive in the event of unemployment, you can always run a simulation. on the UNIA website.
What is installment insurance?
Monthly payment insurance is an option available when you take out a private loan. You are free to choose whether or not to take out this payment protection insurance. However, you should be aware that payment protection insurance will ensure that your loans are repaid, and that your monthly payments will be covered in the event of a claim.
Unfortunately, self-employed workers, cross-border commuters and pensioners cannot benefit from this insurance.
What if I already have credit but no monthly payment insurance?
Don't panic! Lica offers you an exclusive solution that you can easily integrate into your budget, thus protecting you financially.
You are free to start or cancel your monthly payment insurance contract at any time. What's more, you can, our solution is not subject to a medical questionnaire. So you can enjoy excellent protection regardless of your current situation.
Monthly payment insurance is a good budget planning tip
Monthly payment insurance remains a crucial tool in your budget planning. Admittedly, it can represent a certain cost that you hadn't necessarily planned for, but in the event of a claim, you'll be glad you took it out.
How much does payment protection insurance cost?
The premium for monthly installment insurance varies, of course, depending on the amount you wish to insure (the indemnities). Monthly payments insurance starts with a premium of CHF 23.85, equivalent to an indemnity of CHF 300.- per month. For example, for a monthly indemnity of CHF 1’200.-, the premium will be CHF 95.40.
During the subscription to insure your monthly payments, you must first define the amount of your loan commitments. If you pay CHF 1'500.- in rent and have a loan with a monthly payment of CHF 300, you should choose an insured monthly benefit of CHF 1'800.-.
The good news is that with or without credit, you can subscribe to supplementary unemployment insurance and guarantee your income in the event of involuntary job loss, illness or accident.
What are the conditions for monthly payment insurance?
Monthly payment insurance is not automatically associated with the personal loan. Anyone can take out this insurance to secure their financial situation. To benefit from this insurance, here are the points to note:
- You must have worked at least 30 hours a week over the past 12 months.
- During the last 12 months, you must not have taken more than 20 days off work due to illness or accident.
- You must also not have been dismissed or be aware of a forthcoming dismissal.
What happens if my credit contract is cancelled?
In Switzerland, you have the option of withdrawing from a credit agreement under certain conditions. In the case of a consumer credit, for example, it could be cancelled in the event of early repayment. In the case of a mortgage, it could be cancelled if the property is sold. But what happens to my insurance?
The great strength of the solution proposed by Lica is that your contract is not directly linked to a loan. You are therefore free to cancel it at any time!
And in the event of death...
The situation at death varies according to the type of loan and the commitments of each individual. The personal inheritance situation must also be factored into the equation.
This aspect is therefore dealt with individually with your Lica advisor when taking out a loan. You can also call on our estate specialists to answer any questions you may have, free of charge.
Our conclusion on monthly payment insurance
Our experience and passion in the personal loan immediately pointed us in the direction of payment protection solutions for our customers. Although very important, setting up payment protection insurance will depend on each individual's personal situation. That's why, Lica always favours a personalized approach to the question of credit and supplementary unemployment insurance.
Before taking out insurance, it's a good idea to spend a little time with your Lica advisor to take stock of the situation. Once your needs have been determined, it will be very easy to make the right decision to protect yourself financially whatever happens.
Now that you know how payment protection insurance works, all you have to do is apply. With Lica it's simple, fast and efficient! That's right, you make your request online in less than 2 minutes, and then our specialized teams do the work for you. That saves you time and money!