Loan and insurance together Interest increases financial visions

Loan and insurance together Interest increases financial visions

January 10, 2021 Off By Montero Theo

Insurance coverage is often offered along with personal loans. How is the policy paid?
A personal loan can be granted for very various reasons. However, whether we are talking about a loan for a holiday, or a loan to buy a new car, there is a common factor for each of them: the possibility, for those who obtain the loan, to take out insurance to cover risks.

In practice, when we request a loan, we can insure ourselves against unpleasant situations that prevent us from paying off the debt, or against events that make the expense made with the sum obtained useless.

The simplest case is insurance that protects against the risk of death, or the risk of losing your job. There are also other types of insurance that can only be sold for certain purposes (for example, those who obtain a loan for a holiday can also insure against loss of luggage.

The concept is simple: paying a few euros more each month, we take home a nice insurance policy that makes us sleep peacefully. In all this, however, know that even the bank sleeps more peacefully, thanks to the hidden costs that are recharged on your loan.

The insurance, sold at the same time as the loan, is in turn paid in installments. This means that you will pay interest, as well as on the loan, also on the policy you have taken out.
As always, everything is clearer with a few simple calculations.

Suppose we request a loan of 3,000 euros, at a rate of 8.50%, to be repaid in 2 years. In this case, the installment to be paid will be equal to 136.37 euros and, at the end of the loan, we will have returned 3272.88 euros.

But we want more: we add accident insurance, which costs us 150 euros. We would be willing to pay this sum immediately and then, monthly, the installments due: in this case the final amount disbursed would be 150 + 3272.88 = 3422.88 euros.

Unfortunately, this cannot always be done: the bank will propose (or oblige?) To include the 150 euros of the policy in the loan. In practice, he will make us a loan of 3150 euros (3000 + 150) under the same conditions as above. The installment to be paid in this case will be equal to 143.19 euros, and the final sum returned will be 3436.56 euros (+13.68 euros compared to the advance payment of the policy).

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It is also frequent that additional fixed costs are required in order to take out the insurance policy.
The personal loan is often requested for very modest amounts (less than 5000 euros). On these figures one never pays attention to the small expenses that are charged. Precisely because small expenses, however, evaluate the fact of being able to anticipate them, avoiding having to pay interest.

Piedmont: IRAP deduction for hiring young people financial visions

IRAP deduction for an amount of € 30,000.00 for each new hired and / or for the stabilization of apprentice workers

The objective of the measure is to encourage the increase in the number of young workers hired on an indefinite basis.

The incentive consists in the possibility for companies that hire to deduct, for the purposes of determining the taxable IRAP, an amount equal to 30,000.00 euros for each new hired and / or for the stabilization of apprentice workers in one of the three tax periods subsequent to the one in progress at 31 December 2010.

Beneficiaries
Companies and taxable persons of the IRAP tax operating in Piedmont can benefit from the incentive.

Recipients
Young workers under the age of 35 who have tax domicile in one of the municipalities of Piedmont for the entire period in which the concession is used.

Aid intensity
The facility consists in the deduction for the purposes of determining the taxable IRAP of an amount equal to the cost of the employee up to a maximum of € 30,000.00 for each new worker hired starting from the year of employment and up to the third year.

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Resources Available
The resources are 5 million euros.

Aid scheme
The facility is not considered an aid scheme as the planned IRAP deduction is configured as a general intervention on the entire private economic sector.
Summary of the announcement
• Beneficiaries: micro and small enterprises
• Amount: IRAP deduction for an amount equal to € 30,000.00 for the recruitment or stabilization of young people.
• Type: Tax incentive
• Expiry date: at the counter
• Geographic Area: Piedmont
• Available Resources: 5 million euros

Loans to SMEs for ISO 14001 EMAS environmental certification financial visions

Non-repayable loans for the acquisition of real consulting and assistance services, aimed at activating Environmental Management Systems pursuant to the EMAS Regulation and / or the international standard UNI EN ISO 14001

Granting of grants for the reimbursement of expenses incurred for the acquisition of real consulting and assistance services, aimed at activating Environmental Management Systems pursuant to the EMAS Regulation and / or the international standard UNI EN ISO 14001.

Beneficiaries
Micro, small and medium-sized enterprises producing goods and / or services and active throughout the national territory are eligible for grant applications, duly constituted and registered with the relevant Chamber of Commerce, Industry and Crafts on the date of submission of the application.

Types of intervention
The following types of intervention are eligible:
1) verification and registration of the organization pursuant to the EMAS Regulation;
2) certification of the Environmental Management System pursuant to the international standard UNI EN ISO 14001;
3) verification and EMAS registration of organizations already certified under the international standard UNI EN ISO 14001.

Contributions to SMEs are granted through a “refund procedure” to companies that have obtained EMAS registration or UNI EN ISO 14001 certification starting from 6 October 2003.
Aid intensity

For micro and small businesses:
for the type of intervention 1):
contribution equal to 80% of the expenditure deemed admissible. The contribution cannot, in any case, exceed the threshold of 15,000 euros;
for the type of intervention 2):
contribution equal to 40% of the expenditure deemed admissible. The contribution cannot, in any case, exceed the threshold of 7,500 euros;
for the type of intervention 3):
contribution equal to 80% of the expenditure deemed admissible. The contribution cannot, in any case, exceed the threshold of 7,500 euros.
For medium-sized businesses:
for the type of intervention 1):
contribution equal to 75% of the eligible expenditure. The contribution cannot, in any case, exceed the threshold of 30,000 euros;
for the type of intervention 2):
contribution equal to 40% of the expenditure deemed admissible. The contribution cannot, in any case, exceed the threshold of 16,000 euros;
for the type of intervention 3):
contribution equal to 75% of the eligible expenditure. The contribution cannot, in any case, exceed the threshold of 7,500 euros.

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Eligible expenses for the Financing
The following expenses are eligible for the grant:
• for qualified consultancy aimed at defining / planning the Environmental Management System;
• for the verification and certification body;
• for carrying out investigations aimed at the initial environmental analysis (for example: emissions analysis, exhaust analysis, core drilling, sound level analysis).
• for specific training, both for the employees of the company and for the Head of the Environmental Management System of the same;

for environmental communication: dissemination of the environmental policy / declaration (in the case of EMAS), communications with the institutions, the local community and production companies regarding the recognition obtained, creation of an environmental area of the website.
Resources Available

The resources for the year 2013 are 1,000,000 euros.
Summary of the announcement
• Beneficiaries: companies
• Amount: the amount of each project is variable
• Type: Non-repayable loan
• Expiry Date: Until funds run out
• Geographic Area: All of Italy
• Available Resources: € 1,000,000