Which bank to choose to redeem its credit?

A repurchase of credit is an act that can produce unfortunate consequences, such as over-indebtedness or the impossibility to repay the credit redemption itself! That’s why it’s important to choose your bank to redeem your credit, whether it’s a traditional bank or an online bank that can redeem credit online. But which bank to choose, and on what criteria?

 

The advantage of banks known to buy back credit

The advantage of banks known to buy back credit

Requesting a debt consolidation or a credit buyback to a bank in which one already has an account and / or other financial products is a definite advantage. Thus, these banks buy less expensive credits than specialized agencies, which can be a good selection criterion. These banks are the French banks whose agencies are spread over the territory.

Even if you do not have an account in one of these banks, it is still possible to request a credit redemption: banks are always looking for new customers!

 

Credit buy offers abound in the market

Credit buy offers abound in the market

Banks are competing ingeniously to offer ever more services in the field of credit buy-back: personalized support, buy-back of a special employee credit, preferential rates for certain professions, repayment spread over time.

Thus, it may be interesting to select a bank according to his profession: civil servant, artisan, military, liberal. Read also Credit purchase for professionals A bank specializing in the purchase of credit from a Liberal will take into account the highest salary of this type of professional, but also the highest charges of the latter. It will be able to take into account the particular aspects of this professional category and its offer will be better adapted.

 

Online credit comparison comparators

Online credit comparison comparators

These tools are free and allow you to compare several credit redemption organizations, all in a few minutes.

It is also possible to turn to a broker. The broker geared towards the activities of repurchase of credit has a perfect knowledge of the market of the banks and an access to the rates of interest practiced by these banks. In addition, through a broker, the borrower will be more likely to see his file succeed.

But the steps of the borrower do not stop there: after selecting a few banks, he will have to make simulations to know which bank will give him the best rates and monthly payments adapted. The simulator is therefore an important tool, which the bank must offer to its client. The goal is not to go into debt even more!

Can We Have Multiple Life Insurance?

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The essential :

  • It is possible to subscribe to an unlimited number of life insurance policies;
  • Taking out several life insurance policies reduces the counterparty risk and increases the guarantee limit;
  • Opening several life insurance contracts can help to better manage the practical aspects of the estate.

Unlike PEA and PEA-PME, it is possible to combine several life insurance policies . Is there an advantage to subscribe to several life insurance policies?

Having multiple life insurance diversifies counterparty risk

 Having multiple life insurance diversifies counterparty risk

As a life insurance policyholder, you have a claim against the insurer of your policy, who owns the securities in which your money is invested. If the insurer goes bankrupt, it may be unable to repay you the full amount invested. So you have a counterparty risk. This risk, if it exists, is nevertheless extremely low given the prudential regulations to which insurance companies are subject in France.

However, in this context, having several life insurance policies can improve diversification and reduce this counterparty risk. In addition, sums placed in a life insurance policy are guaranteed in the event of bankruptcy of the insurer up to 70,000 euros by the FGAP (Guarantee Fund of Insurance of Person) . Therefore, opening several life insurance contracts with several insurance companies can increase this guarantee ceiling to match your savings.

Do you have multiple life insurance policies to increase tax benefits?

 Do you have multiple life insurance policies to increase tax benefits?

 

The beneficial taxation of life insurance , earnings or inheritance applies to all contracts held, in their entirety. There are no tax advantages to holding multiple contracts. In particular, the rebate for life insurance over eight years, applies only once, on the sum of redemptions made in the year, all contracts combined.

On the other hand, it is possible to optimize the tax by making withdrawals and payments from one life insurance to another to benefit each year from the abatement, even if you do not need to consume the repurchased capital.

The opening of a new life insurance policy after 70 years

The opening of a new life insurance policy after 70 years

Life insurance makes it possible to reduce your inheritance tax . When the subscriber dies, premiums paid before age 70 in a life insurance policy and interest accrue to the named beneficiaries without going into the estate. Savings are therefore exempt from common law inheritance duties to be taxed at a favorable flat rate after application of a deduction of € 152,500 per beneficiary.

In contrast, premiums paid after 70 years are included in estate assets, but not interest earned, which is totally exempt from estate tax.

It is advisable to open a new life insurance at your 70th birthday, to make any new payment. This makes it easier to differentiate between the two estate plans, whether for the insurer or the tax department.

Learn more about the taxation of life insurance in the event of succession .

Is there more than one life insurance to ensure better management of beneficiaries?

 Is there more than one life insurance to ensure better management of beneficiaries?

In principle, the life insurance contract makes it possible to designate several beneficiaries in the conditions and proportions desired by the subscriber. To ensure your succession, it is not necessary to open a life insurance policy for each beneficiary, provided that the beneficiary clause is correctly written .

Nevertheless, having several life insurance contracts can keep the amounts paid to each beneficiary confidential.

No need to have multiple contracts to manage multiple goals

 

Most often, savers associate a contract or an account by savings project (study of children, purchase of a residence …). They manage the risk level according to the investment horizon by opening a life insurance contract per project.

Now, with Nalo you can integrate several projects within a single life insurance policy. Each project is assigned a portfolio whose risk level is calibrated according to the investment horizon. Within the same contract, you can for example have a low risk portfolio, dedicated to your precautionary savings, and another portfolio dedicated to the preparation of your retirement. For each project, we put in place a progressive security, which eliminates the risk of loss when you need your money.

 

Ideas of personal projects and how to finance them

Everyday stress can deplete us more than we think, which is why many people decide to undertake small personal projects that help them clear their mind and, in many cases, also increase their knowledge, productivity and even income.

When it comes to starting a new activity, you should keep in mind that it is not necessary to spend millions of pesos on it. Actually, just choose something that we like and see how to turn it into something we can afford. If you need ideas, pay attention to these 5 options:

 

Learn a language

japanese handwriting

Even if you don’t believe it, learning a language is also liberating, allows us to make new friends and even opens the door to more opportunities.

 

Try some craft

Try some craft

Make cushions, candles or even knit. Crafts are sources of relaxation and it is best that as you improve, you can start selling those products.

 

Cooking classes

Cooking classes

How about learning to cook something healthy? What if you try vegan food? The options are thousands, you can search for tutorials on YouTube or Instagram – there are many – or register directly in a workshop.

 

Prepare desserts for sale

Prepare desserts for sale

If you are also looking to generate extra income and like baking, having a ‘Sunday of desserts’, it would not hurt. You can prepare cupcakes, cakes and / or chocolates, and sell them among your friends, work colleagues, etc. If you do it once a month, you will see that you earn more income than you think.

 

Learn a sport

Learn a sport

It is proven that the sport releases endorphins, the happiness hormone. Have you always been interested in learning to box? Well, it’s time to do it. The options are many and more than an expense, it is an investment.

But if the question is, how do I finance it? You can take into account the following: The financial product that was created to finance this type of personal project is the investment credit since as its name mentions, it is not necessary to justify what it will be used for. The interest rate will depend on the bank you are looking for, so it is best to compare the alternatives before choosing.

You know, if you need the money to start with any of these projects, you can borrow it and return it month by month. Mind you, be careful with being late.