

This is a guest post by HelloSafe - an innovative comparison platform for finance and insurance.
Payment protection insurance (PPI) is invaluable and plays a crucial role in financial security in various life situations. It protects against payment defaults that are due to unforeseen events such as unemployment, illness or death. In the face of economic uncertainty and financial volatility, choosing appropriate credit default insurance is becoming increasingly important. In this article we would like to provide you with a comprehensive guide to help you choose the right loan default insurance.
What is a payment protection insurance (PPI)?
Payment protection insurance protects borrowers from payment defaults. It works by the borrower paying regular premiums and the insurer providing compensation in the event the borrower defaults. This insurance covers various unforeseen events such as unemployment, illness, disability or death.
Overall, credit default insurance is an important way to hedge against financial risks in the event of non-payment due to unforeseen events. When choosing the right insurance, individual needs and the type of loan should be taken into account.
Analyze your individual needs
In order to choose a suitable PPI, it is important to analyze your individual needs:
● Identify the reasons for purchasing insurance, such as unforeseen events.
● Also consider your financial obligations and risks by assessing your current credit and financial liabilities.
● Also consider your personal income and financial stability to determine if you could continue to make the loan payments.
● Evaluate your financial reserve and ability to pay the premiums for PPI.
By thoroughly analyzing these aspects, you can make an informed decision and select the right insurance that best suits your protection needs.
Compare different Payment protection insurances
When comparing different types of PPI, it is important to have a comprehensive market overview of the insurance providers available. In fact, it is recommended to carry out a thorough study of the insurance conditions and benefits in order to make the right choice. You should make sure that the insurance cover meets the individual needs that you have defined beforehand and offers sufficient protection.
The assessment of the costs and premium structure also plays a crucial role. It is important to analyze and compare the costs relative to the coverage provided in order to strike the right balance between value for money. This allows you to ensure that the PPI corresponds to your own financial possibilities and goals.
Rate the insurance providers
Evaluating the various credit insurance offerings is important, but analyzing each provider itself is also crucial.
In this task, it is important to check the reputation and experience of the companies. In this regard, do not hesitate to look for information about their business history, financial stability and reliability. Researching customer reviews and experiences can also be helpful in gaining insight into customer satisfaction with the insurance company.
A careful analysis of the insurance conditions, customer service and claims processing is also essential for any insurance provider. You should check how transparent and understandable the insurance conditions are and how easy it is to contact customer service.
It is also important to know how efficiently and fairly the company will act in the event of a claim in order to be able to make an informed decision.
Take out and manage your PPI
Taking out the payment protection insurance requires careful execution of the application process. It is important to submit all required documents in full and to answer any health questions truthfully.
A regular review of the insurance policy is also necessary. Changes in the personal financial situation or in the loan portfolio may make it necessary to adjust the insurance policy. It is important to review insurance coverage regularly and ensure it meets current needs.
The extensive payment protection insurance at Crowd4Cash
Together with the insurer Squarelife, Crowd4Cash offers the extensive payment protection insurance in Switzerland. The installments are covered for the entire remaining term in the event of unemployment, disability and death. In addition, up to six monthly installments are covered in the event of divorce. This is very different from other insurance policies, which only cover 12 months. With the protection of comprehensive insurance, you and your family are well protected in the event of an insurance event.