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Credit insurance: your guarantee in case of death

Blog | Credit

Have you ever wondered about what would happen with your credit in case of an irreversible accident or death? Who would then be in charge of paying back this financial commitment? Here is a few information about death insurance, which is mandatory when you sign a credit contract in Switzerland.

An insurance as a guarantee

The loan insurance exists to reimburse partly or entirely a credit when a borrower encounters an unexpected event; such as an accident, an illness or death. Even if the conditions vary from a lender to another, the death insurance in particular, is mandatory in Switzerland because it allows a double guarantee:

  • To lenders: to make sure they get their money back in case of an unexpected event.
  • To the family and the heirs: to protect them from financial problems.

Aleatory conditions and exceptions

According to which type of death insurance you have with your credit, conditions can be different. In a few situations (illness known when making the contract, suicide, age limit reached,…) the insurer can give up to 50% of the debt balance for example. We advise you to check carefuly the death insurance terms that go with your credit contract.

Optional insurance

In addition to the death insurance that automatically goes with your credit contract, you can also take an optional insurance that will cover you reimbursements in case of illness, accidents or unemployment.

Don’t hesitate to get some advice!

Do you have some question about death insurance or any other type of insurance (health, disability, unemployment, life,…) ? Qualified advisors will be more than happy to inform you and lead you towards the most suitable solution!

  • Death, insurance and succession
  • Foresight, saving and retirement
  • Credits and investments

Go to PrestaFlex-Services website to get a free and non-binding appointment with one of their advisors in your town!