The police service is certainly not a job that everyone would like to or could do. Shift work, frequent overtime and personal risks are associated with the job of a police officer. The choice of profession is not entirely without advantage. With financing, police officers enjoy the favorable interest rates and conditions on the loan for police officers. Despite a salary that nobody can “make the big leaps in”, even large amounts of funding and long terms can be approved.
Regular installment loan or police officer loan
People who have their professional roots in the civil service make a lifelong commitment to their employer. As a lifetime civil servant in the police force, the employer demands this loyalty every day. Regardless of personal risks, police officers rush to any location. In the freezing cold and at night, they secure accident sites or protect citizens against violent criminals.
The public servants have a clearly recognizable advantage in the search for loans. The police officer loan gives them many advantages over the installment loan offered to “ordinary people”. Loans for state employees are granted on special terms. The combination of a long term and cheaper interest rates is possible. As a result, even high amounts of credit can be approved for civil servants. But how does it come about?
Official status guarantees a particularly good credit rating
The services provided by police officers every day, for security on our streets and against crime, are worth a bonus. The police officer credit bonus, however, is not derived from this. The special credit rating results from the civil servant status. An official is a civil servant for life and cannot be dismissed.
Lenders do not have to be concerned that a debtor, in civil service, will lose his job and cannot pay. This security extends over the entire lifespan. The special creditworthiness of a civil servant has an impact even into old age. This explains the extraordinary creditworthiness and the possibility of extremely long loan terms.
The payment behavior of the civil service also has a risk-reducing effect. It can be demonstrated statistically that only in a few exceptional cases do civil servants not conform to the contract. Civil servant status has an impact at almost every credit institution. Practically every bank has a particularly favorable offer for civil servants. Police officers are welcome not only at banks and savings banks. The official loan for large investments, for example building a house, can just as well come from an insurance company.
The civil servant loan as an end-time loan
Any police officer can opt for bank or insurance company loan financing when building a house. A loan for civil servants that is due at the end of the day can be implemented as part of a life insurance policy. Only insurance premiums and interest are payable during the term. Only at the end is the loan amount repaid by the sum insured.
The fact that the family is free of debt in the event of death speaks for taking out a loan for police officers through life insurance.