This type of insurance provides protection for both the borrower and the lender. They also guarantee the assumption of all or part of the repayment deadlines or the outstanding principal of your loan in the event of certain events (bankruptcy, illness inability to repay or death. It is essential to obtain your credit).
Borrower insurance is a guarantee to which you must subscribe which will cover you for the entire duration of your loan. Whether it is a real estate loan, a consumer loan or a personal loan, you must necessarily take out credit insurance in order to guarantee payment of your loan due dates, this insurance covers you for the entire duration of your loan. The amount of the insurance will be returned to you at the end of the repayment of your credit, deducting the unpaid monthly payments.