Getting to retirement age should be the principle of a peaceful life and filled with travel after years and years of work. The problem is that in almost all cases it is not so, but quite the opposite and we have to resort to loans for pensioners.
It means that it is the beginning of an era in life where incomes fall to stop working, and with the 2018 pension, it is not enough to pay the medical and care costs that are multiplying year after year.
In reality, many retirees find themselves with the surprise of having to resort to personal loans online after years of work and savings. As life expectancy is greater than years ago, governments continue to increase the retirement age.
And soon we’ll see 65 years old as retired, aged 75 or even more. All this makes that once retired, our seniors have more health and addiction problems than in the past. And all this means more expenses, moreover knowing that the pension and health care system becomes slowly less sustainable.
With fewer contributors to population aging and unemployment, there is less money in the Italian social security system to tackle medical expenses and the payment of millions of pensions.
In fact, we see that in Italy the population has aged, that is, it implies an increase in the number of retired and elderly people. A challenge that exposes many questions that are difficult to answer on the viability of the state pension and public health system.
For these reasons, banks recommend that people of working age make monetary contributions to accounts and accumulation plans. Because it is convenient to think about the future and more with the situation we have described.
But, what goes with the elderly who are already retired? Many of them do not have large pensions, nor an account with big savings, for which they live on the right amount per month and require loans for retired Findomestic or retirement loans.
The problem is that if his children are unemployed, they will hardly be able to help pay for their parents’ medical expenses and services and have no choice but to apply for an 80-year retirement loan.
When to apply for fast loans for retirees
Even in difficult situations, it is happening that a whole family, parents, and children, live with the only money of a pension.
In these cases, the only financial solution is to look for loans to retirees in order to be able to count on some money to live in this situation.
We are therefore facing a moment of transition for our majors. Demographic changes with an aging population, combined with a high level of unemployment among the youngest, make the pension system not feasible in a permanent way.
People who are still at the beginning or half of their working life have time to save money, look for savings accounts and complementary pension systems, such as private pension plans that offer banks and financial entities.
But those elderly people who are not old enough to work, and who only have a pension, may have to resort to personal loans as urgent financial solutions depending on their situation, such as INPS retired loans for public pensioners.
If, for example, loans for retired Italian post office workers, if the applicant is a pensioner with a high pension and good health, they will have no problem to meet their current expenses, even to help their unemployed children who are without a salary.
But in the case of retired employees or with a serious illness, they will even have financial problems even to credit higher pensions, which eventually seek loans for INPS pensioners up to 90 years.
Nowadays, a senior citizens’ home can cost above 1500 euros per month. Although the maximum monthly expenditure may even exceed 2000 euros, for cases of elderly people with serious health problems.
We should add other expenses if the retiree also maintains a house in the property. In summary, that an elderly person with health problems may owe more than 2000 euros per month to be able to live.
That assuming that his children have a salary and earn enough money if they are not unemployed. Because otherwise, the monthly money with which it should count would amount to 3000 euros or even more.
Money for retired people with a loan or a credit card
As can be understood are very high amounts for most of the pensioners of this country. And despite the dependency or other aid from the state, the problem of financing our elderly exists.
To avoid these money problems for retirees, who see that their main source of income disappears, ceasing to work, products such as the reverse mortgage were created, on which many retirees had almost no information.
A financial product designed as a complementary pension in the form of monthly income, and which had a very competitive interest rate.
And although at the time of the reminder there were various requirements, the most important was that the elder had a residence in the property.
In a growing real estate market, the value of houses grew, for what banks were willing to stay with the properties of their clients in exchange for paying a monthly income to the homeowner.
That is, the pensioner as long as he lived could see his monthly pension completed in 1000 or 500 euros thanks to this type of mortgages and without the need for endorsement, since the house was a sufficient guarantee.
Without a doubt, a good financial product which unfortunately had little success for two reasons: on the one hand the negative of the children to surrender the property to the bank in exchange for the monthly income for his retired parents, because the children were not able to return the money.
And on the other hand, due to the explosion of the real estate market that brought down the price from residences and other properties.
For what the basic requirement on which the reverse mortgage subsisted, the growing value of the mortgaged house as a guarantee fell by its own weight.
Faced with this bleak financing reality, one of the key questions is how can a retiree do more in front of running expenses at other expenses such as medicines, day centers, or retirement homes for the elderly.
Fortunately, there are products, such as mortgages and credit cards that offer a solution to the pension margin and years worked, even for the most difficult and urgent cases.
Given the age, normally more than 65 years except for early retirement cases, two cases of loans need to be differentiated.
That is private financing solutions that allow you to get some money to deal with medical or unexpected payments. In this type of personal loan for the elderly the usurer, normally a bank or a credit, in addition to the typical risk of the insolvent is with another problem, will the customer live enough to pay the amortization of total capital plus indebted interests ?.
As the risk is high, and more and more if it exceeds the retirement age, it is normal that within the requirements to grant a credit to the pensioners is added to solicit customer guarantees, mortgages or guarantees of children or insurance to be able to obtain the personal loan.
Usually, it is also used as a solution to grant the loan with two owners to be able to ensure that the money is returned within the deadline also for those who do to request an online personal loan.
So he puts himself as a customer both to the retired person and to a child of working age. A way for which the usurer eliminates the risk of death of the holder when he is over 65 or even 75.
The best method is to contact our lifelong bank to solicit information and interest rate conditions and the maximum amount of money. In general terms we can speak of two well-differentiated cases:
- Personal loans for pensioners under 75: in this case, for example for any pensioner under 65, and taking into account a life expectancy of 80 years.
The most common thing is that there is no need for endorsers or owners, much like a pensioner’s health insurance to take over the full payment of personal loan debt in the event of death.
It is normal for your home to serve as a mortgage guarantee so you will not have to rely on an endorsement, normally for children. And if the elderly person is healthy, there will be no greater problem in granting personal loans of up to 10 years for the devolution of the money lent.
Moreover, this type of retirees normally also have a car in ownership that will continue to use less compliant each year. Loss of vision and reflexes causes people to stop driving at about 75 years of age.
The car’s commitment would be another alternative to retired loans. You can even get a much larger amount of quick money, with some better financial conditions.
Despite this type of financing, you can not ask any bank, for what you will need to contact companies specializing in the commitment of retirement machines.
- Loans for pensioners up to 85 years: this case is more complex because even if we are optimistic in life expectancy it is clear that there is a high risk of death.
For that reason, more than life insurance, for pensioners of this age it will be necessary to count on supporters or complementary holders who are normally the children so that in the event of death they can take on the payment of the personal loan.
Already either at maturity or by funding the term until you get to the retirement age of the youngest holder. As in the previous case, it is normal that we need to make the house as a mortgage guarantee.
It is one thing to have a person who takes care of the monthly payments of the loan, by way of amortization of the principal plus the corresponding interests, and another is to have guaranteed the amount lent.
In these cases, it is rare to obtain a loan for pensioners of more than 3 or 5 years at the end of the devolution of the money. But, what goes with retirees without children and without a house in property ?.
In that case, both for the high age as for the lack of guarantees, and not being able to bring the children’s or mortgage on his house, the best financial solution and especially if they ask how to make money urgently, is to resort to the mini-fast loan or personal credit cards.
That is to make a solicitation of financing without so many documents as the banks require, that given the high rate of interest they allow themselves fast and even for an applicant in a situation as difficult as the one described above.
However, it is important that you solicit information on the amounts and repayment terms of a loan or amortization because these are normally also fast. For example, 100 euros to repay in a period of 30 days or 300 euros for 15 days.