When you are applying for a loan you expect that everything will be all right, you'll be able to pay off the down payment, the premium, the body of credit and pct regularly. But what if the things will go wrong?

There are some obligatory cases when the loan must be protected, thus, insured: if the property is considered to be a collateral, when you buy a car in credit, when you have bad credit history. The credit property insurance allows a bank to insure his risks against sudden inability of a borrower to repay the loan and gives a borrower an opportunity to cope with the debt.

What's debt solution possible when it turns out that the borrower is not able to earn and pay? If the borrower is ill and his financial troubles are temporary the best variant is to ask the bank to prolong or change the payments schedule (up to 6 months). During this time the borrower should pay off the percents only, while the body of credit is to be paid later in accordance to the new time frame. If the things are more complicated (like death or invalidity of the borrower) the insurance debt policy comes to the stage. The life insurance debt agreement usually obligates the insurance company to repay the credit (of course if the insurance case is proved). Along with that, the property stays to be owned by the borrower or his relatives. If fire or similar natural disaster specified by the debt insurance agreement ruins the property completely or makes it non-suited to live in the insurance company must pay off the debt to the bank. Mostly, in such cases the borrower does not receive the insurance case money (or only the small sum of the whole pot which is left after paying for the credit obligations), but in a long run this outcome seems to be a smart alternative to the debt consolidation programs or property confiscation to sell for debts along with refund money loss.