At present, China mainly provides two kinds of insurance: personal automobile consumption loan guarantee insurance and personal housing mortgage loan guarantee insurance. Personal automobile consumption loan guarantee insurance classification 1. The concept of personal automobile consumption loan guarantee insurance is a guarantee insurance that provides repayment guarantee for individuals who purchase cars with loans. This kind of insurance determines the financial institution that provides automobile consumption loans to car buyers as the insured, and the borrower is the insured. In China, Ping An Insurance Company tried out credit insurance for automobile installment sales on 1997, and China Insurance Regulatory Commission approved China People's Insurance Company to start motor vehicle consumption loan guarantee insurance nationwide on 1999, which made the consumer credit guarantee insurance business fully promoted nationwide and greatly promoted the development of automobile consumption loans. However, due to the serious default of automobile consumption loan, this type of insurance has great underwriting responsibility and high risk. By 2004, many insurance companies began to stop this business. At present, most insurance companies are still in a wait-and-see state, except for a few insurance companies that re-open automobile consumption loan guarantee insurance. 2. The insurance liability buyer fails to perform or fails to fully perform the repayment obligations agreed in the motor vehicle loan contract for three consecutive months. After the lender announces that all the loans are due in advance according to the agreement of the motor vehicle loan contract, if the insured still fails to fulfill the repayment obligations within the prescribed time limit, it is an insurance accident, and the insurer shall be liable for compensation. 3. The insured fails to fulfill the agreed repayment obligations due to the following reasons, except that the insurer is not liable for compensation: (1) The vehicle was expropriated by the government; (2) The vehicle and other property of the car buyer are confiscated, sealed up, detained or paid off due to violation of the law, and the vehicle is transferred or resold; (three) the purchased vehicle is damaged or lost, and it is impossible to obtain motor vehicle insurance compensation; (4) The insured fails to fulfill the repayment obligation due to vehicle quality problems. Personal housing mortgage loan guarantee insurance 1. The concept of personal housing mortgage loan guarantee insurance is a kind of guarantee insurance that provides repayment guarantee for individuals to mortgage commercial housing purchased by loans to banks. The insured of this kind of insurance is an individual who buys a commercial house and borrows money from a bank with the commercial house as collateral. The insured is a bank that provides commercial housing mortgage loans to property buyers. 2. Insurance liability The insurer is liable for repayment of the loan under the following circumstances: (1) The insured loses the repayment ability; (2) The insured dies, and there is no heir or donee; (3) The insured dies, and his successor or donee is unable to repay or loses the ability to repay; (4) When the insured dies, his successor or donee refuses to perform the loan contract. 3. The insurer with exclusive liability is not liable for the following situations: (1) The insured fails to review the applicant and collect the loan according to the General Rules for Loans; (2) Intentional behavior of the insured; (3) Changing the contents of the loan contract or annex without the prior consent of the insurer. 4. Insurance period The insurance period is 6 months from the day after the policy is issued to the expiration of the loan contract. 5. Compensation Limit When the insured requests compensation in writing, the insured has not paid off the principal and interest of the loan contract.
Second, what is consumer credit insurance?
Consumer credit insurance is a kind of credit guarantee insurance. Guarantee insurance refers to the credit insurance underwritten by the insurer, and the insurance that the insured insures his own credit according to the requirements of the obligee is guarantee insurance; The insurance that the obligee asks the guarantor for credit is credit insurance. Including contract guarantee insurance, fidelity bond, product guarantee insurance, commercial credit guarantee insurance, export credit insurance and investment (political risk) insurance. Such as credit guarantee insurance for tourism consumption loans, credit guarantee insurance for personal automobile consumption loans, credit guarantee insurance for personal durable consumer goods loans and so on.
3. What does the personal consumption credit guarantee insurance policy of XX Insurance Company of China Agricultural Bank mean?
Hello, personal loan guarantee insurance
1 concept editing
Personal loan guarantee insurance covers the risk that the insured (borrower) cannot repay the due loan within the time limit stipulated in the loan contract. When the borrower fails to repay the loan on time, the insurer shall bear the repayment responsibility.
2 personal loan guarantee insurance content editing. This type of insurance is set up to cooperate with financial institutions to carry out personal consumption loan business. Mainly suitable for personal housing consumption loans and personal car consumption. Mainly set up personal automobile consumption loan guarantee insurance and personal housing mortgage loan.
Personal automobile consumption loan guarantee insurance 1. concept
Personal automobile consumption loan guarantee is a kind of guarantee insurance that individuals provide repayment guarantee. This kind of insurance determines the financial institution that provides automobile consumption loans to car buyers as the insured, and the borrower is the insured. Insurance companies in China try to sell auto credit insurance by installment. 1999, China Insurance Regulatory Commission approved the People's Insurance Company of China to launch "motor vehicle consumption loan guarantee insurance" nationwide, which pushed the consumer credit guarantee insurance business to the whole country and greatly promoted the development of automobile consumption loans. However, due to the serious default of automobile consumption loan, this type of insurance has great underwriting responsibility and high risk. By 2004, there were many. At present, except for a few insurance companies, automobile consumption loans are reopened to ensure that they are in a wait-and-see state.
2. Insurance liability
If the buyer fails to perform or fails to fully perform the repayment obligations agreed in the Purchase of Motor Vehicle Loan Contract for three consecutive months, and the lender fails to perform the repayment obligations within the specified time limit as agreed in the Purchase of Motor Vehicle Loan Contract, it is an insurance accident, and the insurer shall be liable for compensation.
three
The insurer fails to perform the agreed repayment obligations due to the following reasons
(1) The vehicle was expropriated by the government;
(2) The vehicle and other property of the car buyer are confiscated, sealed up or detained due to violation of the law.
(three) the purchased vehicle is damaged or lost, and it is impossible to obtain motor vehicle insurance compensation;
(4) Due to the quality problem of the vehicle, it was thrown.
Personal housing mortgage loan guarantee insurance 1. concept
A kind of guarantee insurance to ensure the repayment of personal housing loans to buy commercial housing. The insured of this kind of insurance is a bank that buys commercial housing and borrows money from the bank with commercial housing as collateral.
2. Insurance liability
Insurance companies are responsible for the following matters
(1) The insured is unable to repay;
(2) The insured dies, and there is no heir or donee;
(3) The insured dies, and his successor or donee is unable to repay or loses the ability to repay;
(4) The undertaker or the donee refuses to perform the loan contract.
3. Exemption from liability
The insurer shall not be liable for the following circumstances:
(1) The insured fails to examine the applicant and collect the loan according to the General Rules for Loans;
(2) Intentional behavior of the insured;
(3) Changing the contents of the loan contract or annex without the prior consent of the insurer.
4. Insurance period
The insurance period is 6 months from the day after the policy is issued to the expiration of the loan contract.
5. Limit of compensation
When the insured requests compensation in writing, the insured has not paid off the principal and interest of the loan contract. I hope my answer is helpful to you. Thanks for your support and encouragement.