When we obtain a loan, it is important to be able to repay your credit despite all the ups and downs of life. The borrower may be subject to a case of unemployment, work stoppage following an accident or illness. With monthly payment insurance, you protect your salary whatever happens!
Insurance of monthly payments to leave nothing to chance!
Unforeseen events are part of life and it is important that you know what coverage you can have according to your needs. Although optional, insurance of monthly payments is of capital importance, because it protects the borrower from possible upheavals such as incapacity for work following illness or accident and unemployment For example. Your monthly credit payments are therefore covered according to the conditions of the contract.
What is the point of insuring 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, the daily fixed costs remain unchanged! In the event of illness, the gaps can in some cases be more significant and leave no margin to continue to honor the payment of bills or his monthly credit payments.
Did you know that from CHF 1.- per day, it is possible to maintain your salary whatever happens?
To know precisely the amount of your unemployment benefits, you can always perform a simulation on the UNIA website.
What is monthly payment insurance?
Monthly payment insurance is an option available when you take out a private loan. You are free to take out this monthly payment insurance or not. Please note, however, that monthly payment insurance will allow you to ensure the repayment of your credits with the coverage of your monthly payments in the event of a disaster.
It should be noted that self-employed workers, cross-border workers and pensioners unfortunately cannot benefit from this insurance.
What if I already have credit but no monthly payment insurance?
Do not panic ! Lica offers you an exclusive solution that you can easily integrate into your budget and thus protect yourself financially.
You are free to start or cancel your monthly payment insurance contract at any time. Furthermore, our solution is not subject to a medical questionnaire. You can therefore enjoy excellent protection regardless of your current situation.
Monthly installment insurance is a good budget planning tip
Monthly payment insurance remains a crucial tool in planning your budget. Of course, this can represent a certain cost that you did not necessarily have to plan, however in the event of a disaster, you will be very happy to have subscribed to it.
How much does monthly payment insurance cost?
The monthly insurance premium varies of course depending on the amount you wish to insure (compensation). Monthly payment insurance starts with a premium of CHF 23.85 equivalent to compensation of CHF 300.- per month. For example, for a monthly allowance of CHF 1,200.-, the premium will be CHF 95.40.
During subscription of monthly payment insurance, you must first define the amount of your commitments in terms of borrowing. If you have a rent of CHF 1,500.- and a credit with a monthly payment of CHF 300.-, you should opt for an insured monthly compensation 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 benefiting from monthly insurance?
Monthly payment insurance is not automatically associated with the private credit. Everyone is therefore able to subscribe to it in order to secure their financial situation. To benefit from this insurance, here are the points to note:
- You must have worked at least 30 hours per week during the last 12 months.
- During the last 12 months, you must not have exceeded 20 days of sick leave or accident
- You must also not be laid off or have knowledge of an upcoming layoff.
What happens if my credit contract is cancelled?
In Switzerland, you have the possibility to withdraw from a credit agreement under certain conditions. As this is a consumer credit, it could for example be canceled in the event of early repayment. For a mortgage loan, it could be canceled as part of the sale of the property. But then 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 this at any time!
And in the event of death ...
The situation of the death is variable according to the type of loan and the commitments of each person. The personal estate situation should also be factored into this equation.
This aspect is therefore approached individually with your Lica advisor when taking out a loan. You can also call on our estate specialists who will answer all your questions free of charge.
Our conclusion on the insurance of the monthly payments
Our experience and passion in the field of private credit immediately directed us towards monthly payment protection solutions for our customers. Although very important, setting up monthly payment insurance will depend on each person's personal situation. That is why, Lica promotes in all cases a personalized approach to the question of credit and supplementary unemployment insurance.
Before concluding your insurance, you should therefore invest a little time with your Lica advisor to take stock of the issue. Once the needs have been determined, it will then be very easy to make the right decision to protect yourself financially no matter what.
Now that you know how monthly payment insurance works, all you have to do is make your request. With Lica It's simple, fast and effective ! And yes, you make your request online in less than 2 minutes and then our specialized teams will do the work for you. This saves you time and money!
Do you have questions before making your request? Our advisers are there to answer your questions 7 days a week. Ask us for more information and we will be happy to answer you.
