Month: September 2019

How do I cancel my insurance?

by admin

It is possible that, when requesting a personal loan or a mortgage, you have found yourself being forced to take out life insurance. Well, this condition can never be mandatory. However, sometimes it is one of the requirements of some entities to grant you the requested funding. Next, let’s see if you can unsubscribe that insurance and how.

There are insurance comparators that find policies more appropriate to your risk profile or your needs. But what can you do if you have already taken out insurance? Can you cancel a policy? Is it legal to cancel life insurance?

Right of withdrawal in life insurance

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If you have decided to change your insurance, the first thing you should do is cancel the policy you have contracted . You can cancel it without the need to carry risks or consequences by filling out this letter of low cancellation type of insurance, so you know how to proceed.

You must be aware of the renewal date. The insurer has the obligation to notify you at least two months before the date of renewal of the insurance, as well as the price of the following policy. If you do not notify the insurance cancellation, Law 50/1980 says that it can be renewed automatically. If your insurance doesn’t let you know, don’t worry, because in The Good Finance we do . We will inform you through the app and mail.

If you do not want to renew the policy, according to article 22 of the Law you must notify the insurer 30 days before the expiration date. The method of notice will depend on what was agreed with the insurer. Of course, the consequences depend on each insurer. There are cases in which it is only possible to cancel it if you no longer have the insured good in possession. Therefore, it is important that you have all the information to know what you are exposed to.

Reasons why I can cancel the insurance

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If you are thinking of canceling your insurance, there are four reasons why you can proceed without waiting for the contract to expire.

Cancellation by modification of the price or coverage. If your insurer decides to change the conditions of the contract and you do not agree with them, you do not have to notify a month before. It is mandatory that they inform you of the changes made and it will be you who decides if you want to continue with the insurance or not, even if there is less than one month left for the renewal. You have 15 days , since you receive the proposal, to accept or reject it. If you do not answer, they will understand your silence as an acceptance of the modifications.

Cancellation due to risk reduction. The price you pay is established according to the risk assumed by the entity. At lower risk, lower price. If the risk has been reduced, you have notified your insurer and still have not lowered the premium, you have the right to cancel it before the expiration date.

Cancellation by hiring online. If you have purchased insurance online, you have 14 days to regret it. They cannot ask you for explanations or penalize you for it.

Cancellation of life insurance. Life insurance has its own regulations. According to the Insurance Contract Law, in its article 83, if you have contracted individual life insurance and for a period of more than 6 months, you can cancel it within the next 30 days of contracting.

Home insurance with mortgage loan

Home insurance with mortgage loan

Another of the most common contracted insurance that they usually force to contract when signing a mortgage is home insurance. It is only mandatory to take out home insurance when you sign a mortgage if it is securitized. In this case, the regulations indicate that the acquisition of a damage contract for that house is necessary. Otherwise, if the mortgage is not securitized, you have no legal obligation to contract home insurance with its specific conditions.

The hiring of insurance must be a totally free action . The idea is that these products provide peace of mind. The insurer will respond to a certain situation. Therefore, the hiring of insurance must be a thoughtful, free decision and should never be negotiated individually.

The Good Finance also helps you save on your policies. You have all your insurances at hand, well detailed and notifies you before expiration so you can stop losing money when you renew them. Also, if you want to know how to cancel your insurance through your The Good Finance application, you can learn how to do it here.

Do you have any advice, curiosity or question that we have not commented on? What are you waiting for! You can help many users who read your comment on our blog ?

How to get a loan for my first business? | Business Loans

by admin

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Are you thinking of creating your own business? Congratulations! We know that it is not easy to make this decision, but it definitely brings you many advantages. Especially because it will be a unique personal and professional experience.

Do not forget that when you start your first business it will demand a lot of your time in the first months and during the following months you will have to work twice what you worked when you were employed. But that is the challenge! You will work for what you are passionate about getting up every day to create a better future.

Who doesn’t want to be their own boss?

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It is everyone’s dream, for that reason, we want you to choose a business based on your passions, hobbies and talents. You must find something that you really love and can turn it into your business, when you already know what you want to do, then you will be ready to go after your dreams.

On this occasion, we want to guide you so you know how you can get a loan to start your business. Giving you some tips so you can get and fulfill your dreams. So keep reading.

Tips to get a loan

Tips to get a loan

Surely you left your previous job for several factors, it may be the most hours you worked, depending on a salary, or it just wasn’t the job you were passionate about.

Analyze the money you need

It is important that you make a list of all the expenses you will get and also consider how you will make the monthly payments.

Type of financing

When you know the amount you need, go to the trusted financial institution so they can provide you with the necessary advice, this in order to provide you with a credit that suits what you need, considering the interest rate that will be providing

Create your business plan

Create your business plan

It is important that you explain what your business will be and what it is about. Analyzing the costs, benefits and the exact amount you need to start your project.

Request a credit

If you have developed an excellent business plan, do not worry. They will definitely be able to help you in the financing you need, but it is important that you already have part of the capital that you need, so that you can have a backup so that there is no problem.

We are very happy that you want to start this new dream, we know that the first steps are not easy but with effort and dedication we know that you can achieve everything you set your mind to. Being a passionate entrepreneur is something that defines all Guatemalans. You are looking for a better future for you and your family.