When we are financially committed for 20-30 years, it is natural for us to panic a little. These are the questions that start with “What happens when …” . In these cases, it is better to answer these questions and deal with real fears because of our own spiritual peace. Let the most common concerns and optional solutions come!
What happens if my apartment / house burns down?
Although not a common hazard, it is still a real danger. That’s why at the banks, disbursement condition is home insurance. Our basic service is to reimburse us for the rebuilding of the property.
Obviously it causes inconvenience, but this is not a big financial problem, so don’t worry about it! So the solution is to find the right home insurance.
What happens if I get hurt and can’t work?
We don’t even have to make a mistake to make trouble for us. I slip on the ice and break my hands or just “stick my feet” and break my Achilles tendon. I know from personal experience that by the time this is half a year, it can be normal again. The bigger problem, though, is that sickness cash is 60% of our reported earnings. Which is a significant loss of revenue.
Let’s take out insurance that will help you to make up for the financial shortfall that has occurred. The right choices can be a risk life insurance, an accident insurance, and a credit coverage insurance.
What happens if I lose my job?
This is a completely realistic fear. Statistics also show that more than half of the population does not have enough money to live for 2 months. As a first step, we immediately recommend that you start building a security reserve for yourself, where you accumulate an annual salary.
We have insurance that pays off in the event that you are permanently unable to find a job, unemployment insurance and / or credit insurance are a good solution.
What if I die?
According to a sad statistic, when an ambulance van passes by, we think in vain that they are carrying a poor old man. More than half of the cases are rushed to 40-50 year olds to save their lives. Of course, don’t cross the horse, because we’re in this age, we don’t have to bury ourselves right away! ?
We need to speak objectively about this topic without emotion.
One of the biggest problems after borrowing is that if we do not pay the loan, we lose the property. If two of us have taken out a loan, we basically arrange our rest for 2 payments. If one of your earnings goes down, it can very well upset our finances. Especially if it is accompanied by a tragedy like a death. And then even the apartment could be lost.
Clearly, material disaster can be prevented by thinking ahead and concluding a life insurance policy. But how much is worth?
- the amount of the mortgage loan taken out
- to the extent of our credit
- all our debts and our 2-3 year old earnings
- in addition to the above one million HUF for grace services
In this list we have moved up from the minimum amount to the ideal amount. A risk life insurance and, of course, a loan hedge offer a good solution for us.
Let’s be proactive!
As we can see, we really have legitimate concerns. But there is no problem with this, since it is better to be afraid than to be frightened. In addition, we can prepare ourselves for the financial implications of our fears. We can offer credit coverage for almost all of them, and it’s available in almost every bank. We would like to ask that this is not the item you are trying to save in the credit process . If you need more information, feel free to contact us! We are at your disposal and will respond promptly.