Secure your personal loan reliably
Secure your personal loan optimally with nextsure's loan protection insurance. Protection against unemployment, incapacity to work, and in the event of death. Find out more now!
Protection against unemployment
Income protection in the event of incapacity for work
Relief for the bereaved
What is a residual debt insurance for personal loans?
Definition: Financial security of loan repayments.
Purpose: Protection against payment defaults in unforeseen events.
Scope of services: Assumption of instalments or remaining debt.
Target audience: All borrowers with a need for coverage.
When is residual debt insurance sensible for your personal loan?
A loan protection insurance for personal loans is particularly recommended if the loan represents a significant financial burden or the repayment occurs over a long period and unforeseen events could jeopardize your ability to pay. It provides financial security for you and your family if you can no longer meet the loan instalments due to unemployment, incapacity to work, or death. Especially for large loan amounts, low financial buffers, or if you are the sole earner, such coverage is an important component in avoiding over-indebtedness. nextsure analyses your individual situation and provides comprehensive advice on necessity.
Our Protection Packages
Services of the Nextsure Payment Protection Insurance Personal Loan
Death protection
Financial security for your dependents in an emergency.
Incapacity for work
Assumption of loan instalments in case of inability to work due to illness or accident.
Unemployment
Continuation of payments in the event of involuntary job loss (according to terms).
Flexible Tariffs
Individually selectable protection components for tailored security.
Digital Process
Simple online completion and digital contract management at nextsure.
Transparency
Clear service descriptions and understandable insurance conditions.
Quick Help
Straightforward claims reporting and prompt performance evaluation in case of an event.
Expert Advice
Expert online consultation on all questions regarding your credit assurance.
Fixed Contributions
Predictable premiums throughout the entire loan term.
Transparent, digital and tailored to you
Your personal loan
Secure now without obligation!
The benefits of payment protection insurance for personal loans at nextsure
At nextsure, you benefit from a credit insurance specifically tailored to the needs of digitally savvy customers. Our fully digital signing process allows you to complete your contract quickly and effortlessly from the comfort of your home. We combine an extensive niche portfolio with expert, transparent advice to offer you bespoke protection for your personal loan. This way, you enjoy not only financial protection but also the convenience and efficiency of a modern insurtech company that values clear terms and understandable products.
Costs and Contributions: How much does a payment protection insurance for personal loans cost?
The cost of a payment protection insurance for personal loans is variable and depends on several factors. These primarily include the amount of the loan, the agreed loan term, the age of the borrower at the time of conclusion, and the chosen scope of services (e.g. coverage only in the event of death, or additionally in cases of incapacity and/or unemployment). nextsure places the highest value on transparency: We will provide you with an individual offer that details all cost components, allowing you to clearly understand how your contribution is composed and what services you receive in return.
Comprehensive Protection: What Risks Are Covered by Payment Protection Insurance for Personal Loans?
The residual debt insurance for personal loans from nextsure offers modular protection that can be tailored to your needs. The core benefit is often the coverage in the event of death, where the remaining debt is fully repaid to financially relieve your dependents. Additionally, you can extend the protection to cover incapacity to work due to illness or accident, with the insurance taking over the ongoing loan repayments. Another important component is the protection against involuntary unemployment, which also ensures payment of installments for a certain period.
Are there alternatives to payment protection insurance for personal loans?
Yes, there are alternatives to the traditional residual debt insurance, but their suitability largely depends on your individual situation and protection needs. A term life insurance policy, for example, can provide coverage for death and is often more cost-effective, but it does not cover disability or unemployment. An occupational disability insurance offers comprehensive protection against the loss of your ability to work, but it is a separate, usually more extensive provision. For short-term liquidity shortages, an emergency fund or existing capital investments can also be useful. Nextsure is happy to advise you on which solution or combination is optimal for your personal loan and life circumstances.
Occupational disability
Secure income sustainably
Term life insurance
Protecting families reliably
Home & Living
Optimally insure your home
Cancellation and Withdrawal: Your Rights with Payment Protection Insurance
As a consumer, you have certain rights when taking out a residual debt insurance for personal loans. You have a statutory right of withdrawal, usually 14 or 30 days after concluding the contract, depending on the contract terms and the manner of agreement. Termination of the contract is also possible, with the conditions for this (e.g., notice periods, possible pro-rata refund of contributions) detailed in the insurance conditions of your nextsure contract. In the event of early loan repayment, there is often an entitlement to a pro-rata refund of the premium. We inform you transparently about all your options.
Residual debt insurance when refinancing or early repayment of your personal loan
If you wish to refinance or repay your personal loan early, the question arises regarding the fate of your residual debt insurance. In the case of full early repayment of the loan, the purpose of the residual debt insurance generally also ends. You will then often be entitled to a proportional reimbursement of the insurance premium already paid for the unused term. In the case of refinancing, it must be checked whether the existing policy can be transferred to the new loan or if a new contract is more advisable. nextsure assists you in finding the best approach for your situation and claiming any possible reimbursement entitlements.
The most common misconceptions and myths about payment protection insurance for personal loans
There are several misconceptions surrounding payment protection insurance for personal loans. A common misunderstanding is that it is always mandatory – in fact, it is usually optional. Another myth suggests that it is excessively expensive without considering the individual benefits and risk factors. Some also believe that cancellation is not possible or is associated with high losses. nextsure clarifies these myths and focuses on providing transparent information, so you can make an informed decision on whether this protection offers genuine added value for your personal loan and personal situation.
Is a residual debt insurance mandatory for every personal loan?
Selecting the appropriate payment protection insurance requires a careful examination of your specific needs and the offered conditions. Firstly, pay attention to the scope of benefits: Which risks (death, incapacity, unemployment) should be covered? Compare the premiums of different providers, but also take into account exclusions, waiting periods, and the level of insurance benefits. nextsure recommends reading the terms and conditions thoroughly and watching out for hidden costs. Use our digital insurance comparison and expert advice to find a plan that fits your personal loan and life planning optimally.
