Purchasing a house by using an installment loan is currently popular in Cambodia. Low and middle-income Cambodian people who do not have enough cash to buy a house obtain this method to own a house by paying long-term installments.

There is an issue that we should pay attention to. Almost half of the monthly income of those people is spent on home loans which might affect the family's daily expenses or unexpected needs such as health issues, accidental issues, loss of income issues, fire issues, etc. What would happen if those issues occur? Who will continue to pay the loan? Will they lose the house that they just own?

There is a solution that should be considered since it is affordable and efficient. It is the Insurance. There are many types of insurance and it also provides different benefits accordingly.

When buying any property, particularly the house, fire insurance should be strongly considered since it will help cover the loss of your house if a fire ever happens. Generally, fire insurance will cover your temporary shelter, your household property, furniture, take care of your installment loan, or pay off your housing debt. The condition and covered benefits depend on the actual contract between you and the insurance company.

Another type of insurance is health and accidental insurance. It is like a net to protect your financial risk if any problems ever happen such as death, incapability, huge amount of spending on health issues, or any accident. The insurance will cover any spending like treatment in the hospital, the loss or damage, paying installments, or paying off your debt. In so doing, you do not have to take any financial responsibility if those things ever happen because you will be taken care of. The condition and cover benefit depend on the actual contract between you and the insurance company.