Statutory health insurance companies bear the costs for medically necessary operations if recognized procedures are used. However, they only bear the costs of cosmetic surgery in exceptional cases where the patient’s psychological stress is high due to the physical defect.
Operations carried out outside the EU are also not paid. Private health insurers generally cover the costs worldwide and in more cases than the statutory health insurers. However, in some cases, privately insured people also need a loan for an operation because their insurance does not cover the treatment costs.
The normal bank credit for an operation
Since financial institutions pay out consumer loans without earmarking, the customer does not have to state in the application that they need the desired credit for an operation. When applying for a loan in the branch, the purpose is often mentioned, even if it does not affect the decision to award a loan. Visiting a bank branch for a credit discussion is not advisable anyway, since almost all financial institutions on the Internet offer more favorable conditions. Some commercial banks grant discounted loans for medical treatments.
In this case, proof of credit use is required for an operation. The earmarked loan from a financial institution is usually cheaper than the installment loan from the same bank paid out without proof of use. Nevertheless, it remains to be examined whether another bank is charging even lower interest rates. In the case of serious illnesses, it is advisable to secure the loan for an operation using a payment protection insurance.
The use of the overdraft facility for the settlement of surgery costs is possible with inexpensive treatments and a sufficiently high credit line. It only makes sense if the account holder can balance the bank account no later than three to six months after the operation. In other cases, the overdraft facility is too expensive due to the high debit interest.
Installment payments and borrowing through special banks
The easiest way to process a loan for the operation is to arrange an installment payment directly with the clinic. Such an agreement is possible in many clinics, whereby the facilities often limit the term to six to a maximum of twelve months. If patients want a longer loan term, they can find a cheap loan for the operation at specialist banks to finance the costs of medical treatment.
The corresponding credit institutions only grant loans to private individuals if they can prove that they have used the funds to pay their own shares for medical or dental treatment. The interest rates of the special banks are lower than the average lending rates of the commercial banks. Upon request and with the consent of the treating clinic, simplified loan processing is also possible by the credit institution transferring the corresponding amount of money directly to the hospital account.
Alternatives to bank credit for an operation
Owners of private supplementary pension insurance or capital life insurance receive an inexpensive loan for an operation from their insurer by loaning the corresponding contract. Since the policyholder’s own payment claims guarantee payment of the loan installments and there is therefore no risk of default, the company can grant the loan at a low interest rate. Rian and Ren contracts are not suitable for mortgage lending because the legislator classifies such use as defective and this consequently triggers the immediate recovery of all tax benefits and allowances received.
A loan for an operation can be successfully applied for on a website for brokering loans between private platform members if the lenders registered there are convinced of the need for the intervention. For the most part, they pay attention to the stated use of funds and significantly less than conventional banks to classic credit rating characteristics.