The text message sent by Zhongan Insurance Compensation.

Let me explain the meaning of insurance company compensation first. In order to prevent risks, the loan company will buy an insurance from the insurance company every time to guarantee the lender. If the borrower fails to repay the loan within the agreed time limit, the insurance company will repay it on his behalf, thus ensuring the safety of the loan company's funds. After the insurance compensation, the borrower's debt is transferred from the loan company to the insurance company, and the insurance premium is of course borne by the borrower. Wool is on sheep.

How do you know if the company you borrowed is compensated by the insurance company? This information usually appears in the guarantee column of the loan company's credit report, and records the time and institution of insurance payment, as well as the accumulated payment amount and balance. Click on the agreement to see the details, and you can know which company provides such services and the details of the services. This compensation agreement is to be submitted to the central bank's credit information center for review, so it will definitely be explained in detail.

The text message you received said that the debt was compensated by the insurance company, which should mean that the loan company has this business, and the loan company will start insurance compensation after you are overdue. What are the consequences after insurance compensation?

First of all, this does not mean that the insurance company does not have to repay the loan. You still have to pay it back, but you paid it back to the loan company before, and now you have paid it back to the insurance company that helped you compensate.

Secondly, your personal credit report will produce overdue compensation information. Originally, you made a green mortgage loan in a loan company that didn't accept credit information, probably because it wouldn't affect your credit information if it was overdue, but with insurance compensation, it was empty talk for this loan company not to accept credit information.

Finally, will this insurance payment record always exist in your personal credit report? Some people worry that it will become an indelible stain on life. It won't be that serious. As long as you contact your insurance company in time and pay off the principal and interest of the loan you owe, the news will disappear after five years. Of course, if you don't return it, you will follow it for a lifetime.

You see, these days, even loan companies buy insurance for their own funds. Do you also consider giving your family a comprehensive protection?