Mortgage insurance against job loss. What does job loss insurance provide? The main features of such programs

It is easy to lose your job during an economic crisis.

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Every now and then we hear about staff layoffs, liquidation of enterprises and other "good news". But behind all this there are human lives, many of the dismissed cannot continue to support their families and are looking for at least some extra work or take out a loan in the hope of someday "getting rich." That is why borrowers do not really bother when banks offer them to take out a job loss insurance policy.

“What if this happens to me? So at least this policy will save me from a debt hole! " - so many think and take out insurance. Is it worth it, whether the insurance will cover the amount of debt, when the insurance may not be paid, who benefits from it - read about all this in this article.

Can all types of loans be saved from job loss?

The credit insurance market is subdivided into 2 types:

• voluntary;
• mandatory.

Such types of lending as mortgages and car loans are subject to the provisions of Federal laws (insurance civil liability car owners) OSAGO, insurance in mandatory.

Making a job loss insurance contract is a voluntary service.

Most often, banks offer this type of insurance in the form of a recommendation, the refusal of which, in theory, should not affect the decision to issue a loan. But, as practice shows, refusal to issue this type of insurance often leads to the issuance of a negative response from the bank.

Of course, the reason for not granting a loan to the borrower will be called any other than the true one. After all, forcing the borrower to take out this type of insurance is illegal.

Some banks still issue loans even after refusing voluntary job loss insurance, but they may increase the interest for using the loan.

By this they insure themselves against the possible loss of the money issued. All short-term loans with a maturity period of up to 12 months can be insured against job loss. Longer term types of loans are subject to renewal of insurance every subsequent year.

In what cases you will be paid insurance

Dismissal from work can occur for various reasons: both through the fault of the employer or due to circumstances beyond the control of the parties, and through the fault of the employee. The insured event occurs in all cases, except for the fault of the employee.

The following cases are subject to compensation under the insurance contract:

1. Termination of an employment contract at the will of the employer:
   • liquidation of the enterprise (item 1);
   • reduction in the number of full-time employees (clause 2 of article 81 of the Labor Code of the Russian Federation);
   • reduction of job positions in the civil service (paragraph 6, part 1);
   • due to a change in the owner of the enterprise (clause 4 of article 81 of the Labor Code of the Russian Federation).
2. For circumstances that do not obey the will of the parties:
   • military conscription or rotation of a soldier to perform duties in the civil service (item 1);
   • the resumption of the employee in his previous position in connection with the decision of the courts or the labor state inspection (clause 2 of article 83 of the Labor Code of the Russian Federation);
   • not passing the competitive selection for the position (clause 3, article 83 of the Labor Code of the Russian Federation).
3. Demobilization ahead of schedule from contract service in the army for personal or family reasons (clause 3 of March 28, 1998 "On military duty and military service").

The borrower cannot claim insurance benefits if he was dismissed:

• by agreement of the parties;
• at your own request;
• for disciplinary sanctions, for example, coming to work in a state of intoxication, systematic violation of labor discipline, etc. cannot claim insurance payments.

If the borrower is fired for a reason subject to insurance coverage, and during the period stipulated in the contract, he gets a new job, payments are automatically stopped.

The same applies to those who, within the specified period, registered at the employment center and received unemployment benefits. In these cases, it is considered that the citizen has an income that allows him to cover the loan debt.

Will the paid amount cover the loan

Despite the fact that this type of insurance, like any other type, increases the financial burden, however, it allows, if necessary, to solve the arising problems in case of loss of work.

That is why, before immediately rejecting the bank's offer to insure your loan against job loss, you need to calculate the benefits of this transaction. And find out if she is.

This insurance will allow you to receive from the insurer within the time specified in the contract monthly amount to pay off loan debt in case of loss of main income.

The period for concluding an insurance contract is no more than 1 year, and the coverage amount is equal to the equivalent of the monthly installment on the loan.

Thanks to these payments from the insurance company, the borrower is not burdened with finding funds to settle with the bank. At this time, he can calmly look for a new job, without unnecessary stressful situations.

In order to make sure that the insurance will cover the loan amount for a certain period of time, here is an example of calculating payments under the loan program of AO Citibank:

Pros and cons

The advantages of this type of insurance are much greater than the disadvantages. But, as practice shows, all the benefits are often offset by the inability to use the offer of the insurance company.

First, let's find out about the benefits, which include the following:

• in case of loss of work, loan service is provided insurance Company;
• no stress from the inability to repay the loan and a calm search for a new job;
• maintaining a positive credit history;
• affordable payment with firm guarantees of the insurance company;
• fast and easy registration of the policy for the borrower.

The disadvantages are the additional financial burden when servicing the loan.

The employer tries to carry out the vast majority of cases of staff reduction or liquidation of an enterprise in the form of dismissal under clause 3, part 1, that is, of his own free will.

If the employee refuses to write a statement for the proposed reason, the employer finds such levers of pressure that cannot be resisted. Dismissal under the article for absenteeism (Article 81 of the Labor Code of the Russian Federation), and by distrust (clause 7 of Article 81 of the Labor Code of the Russian Federation) is also applied, when the employee is financially responsible for the values \u200b\u200bof the enterprise entrusted to him, etc.

And according to the rules of all insurers, dismissal under the above articles is not included in the list of insured events stipulated in the contract. So it turns out that in practice there are very few cases when insurance companies pay off debts of bank borrowers.

Conditions for concluding an insurance contract

If you have passed a rigorous check by the bank and you have received a positive verdict on the issuance of a loan, then they will not refuse to take out insurance either.

To purchase an insurance policy, you must meet the following conditions, namely:

• have Russian citizenship;
• the minimum age limit is 18-21 years, the maximum is 55 years and 60 years, respectively, for women and men;
• have official employment valid on the date of registration of the policy;
• the total length of service must be at least 12 months, and at the last job - at least 3 months.

One of the conditions for drawing up an insurance contract is a temporary deductible. This is a period of time during which the insurer does not make payments. It is calculated immediately after the dismissal of the employee and is calculated in calendar days. This period is usually 60 calendar days.

Equally interesting is the so-called waiting period, which is also included in the conditions of the insurance company. This is the period that starts from the date of the insurance policy and is set by the company at its discretion.

Traditionally, insurers regulate the waiting period of 3-4 months.

This is how companies insure themselves against unjustified payments. After all, an employee, having learned that he is going to be laid off, can quickly draw up a contract, and without a single contribution on his part, receive the company's payments due in this case. These are the unjustified losses of the company.

What documents are needed

To issue a policy, the policyholder fills out the insurance application form for the insurer, the form of which is different for each company. But traditional questions remain regarding the applicant's name, place of registration, passport data, place of work, age, etc.

The following documents must be attached to the application:

• a copy of the employment contract, copies of additional agreements to the main employment contract;
• an extract from the work book to establish the total length of service and the length of service of continuous work at the last job;
• income document natural person (form 2-NDFL);
• other documents that relate to the assumed insurance risk.

How to act if an insured event occurs

Stages of actions of the policyholder if there was a dismissal from work for reasons subject to insurance:

1. Before the end of the period of 10 working days from the date of termination of employment, submit documents (passport, work book) to the employment center for registration and write an application for a certificate that you are registered as unemployed.

   

How to get the due payment

Within 14 working days after you submit your application for the payment of insurance claims and other mandatory documents, the insurance company draws up an act.

After reviewing the application and studying the remaining documents submitted by you, the insurer makes a decision on the payment of insurance claims or non-payment, motivating it with a written refusal, indicating the reasons.

The sum insured is received in the amount specified in the contract and is no more than three months' average income of the policyholder.

The reimbursement is credited to the creditor's account on a monthly basis. The total amount of the listed insurance does not exceed the amount specified in the contract.

If a citizen has paid off the loan ahead of schedule, then in this case there is no need for insurance. In this case, part of the sum insured can be returned if such an action is prescribed in the insurance policy agreement.

But if the return of the insured amount in the contract is not predetermined in advance, or the impossibility is fixed, then it is pointless to demand it from the insurer.

In this case, you can apply to the courts with a claim, in which you will need to prove that this service was issued without your consent.

If the court finds the defendant's actions unlawful, then it will oblige him to pay you all sum insured completely.

Loss of employment can be caused by a wide variety of reasons. But the result in all cases is equally unpleasant - a person loses a source of financial income, which leads to a violation of his long-term plans and obligations. The situation becomes much more complicated when there is a debt on the loan.

Why is job loss insurance so attractive?

Despite the low popularity of self-insurance in Russia, if there are signs of an upcoming liquidation of the organization or layoffs, it makes sense to buy a policy to receive compensation payments in case of dismissal.

Signing an insurance contract for risks associated with the loss of a job will protect a person from delays on a loan due to insurance payments for 6 or 12 months in an amount approximately equal to the monthly payment to the bank. During the specified period, it is necessary to find a new job.

The presence of an insurance agreement will allow the client to calmly search for a new job, without worrying about the need to pay the next amount to the lender, without fear of ruining his own credit history.

In the event of a loss of work, the agreement will protect the borrower's relatives and guarantors from liability for the loan.

What are the requirements for the policyholder?

The risks of an insured event under the contract are quite large and difficult to calculate, therefore companies have serious requirements for a person who decides to take out insurance in case of job loss, including:

• the age of a citizen must be between 18 and 65 years old (as of the expiration date of the insurance period);
• the applicant must have the citizenship of the Russian Federation, not be a military man or a pensioner;
• the client must be officially employed and have an open-ended employment contract;
• the total length of service must be at least a year, and at the last job - at least 3-6 months.

What cases are classified as insurance?

It is important to bear in mind that insurance payments are not made with every dismissal.

Compensation is paid for loss of employment due to:

• liquidation of the employer;
• reduction in the number of staff of the organization with written notification;
• reinstatement of the previous employee in the position of the client by a court decision;
• loss of work due to disability (I, II groups) in the period after the signing of the insurance contract.

Insurance payment is not possible if:

• the client is dismissed at his own request or as a result of an agreement between the parties;
• after the end of the probationary period, the employment contract was not renewed by the employer;
• the insurance agreement was signed after the client received notification of the upcoming layoff;
• the client was laid off without providing the appropriate notification;
• the client is fired due to alcohol or drug abuse;
• there was a loss of performance as a result of bodily injury caused by the client himself;
• the employee is officially transferred to part-time work;
• the employee receives other types of benefits.

What is required to receive an insurance claim?

Within 10 days after dismissal, the holder of the insurance policy must register with the Employment Service. Notify within 2 months insurance organization and provide documents, including:

• the applicant's general passport and work record book (copies);
• labor contract (agreement) and bank loan agreement (copies);
• confirmation from the lender about the balance of the loan debt;
• confirmation of the Employment Service on registration;
• document on average monthly earnings from the last place of employment (in the form of 2-NDFL).

The insurer, after considering the application for payment and the package of documents provided and all the circumstances meet the requirements of the insurance agreement, pays compensation, but not immediately. There is a period of 2 months when the employee is paid wages if there is an official notification of the upcoming layoff. Further, after the reduction, there is a temporary deductible (2-3 months), when the employee receives 2 salaries due upon dismissal, and the IC protects itself in this way from the option of short-term unemployment. It takes from 3 months to 1 year to pay out insurance. During this time, the client, tuned in to a real job search, will provide himself with a new job.

How much is insurance?

Before making a deal, you should study the offers of various insurance organizations, including insurance for a loan against job loss, and choose a method that is suitable for a specific situation.

The price of the insurance service is set depending on the age, length of service, place of work of the client by the insurer itself. Some of the ICs calculate as a percentage of the amount of outstanding loans (0.8% -10%), other ICs set a fixed amount.

The conclusion of an insurance contract against job loss is not necessary for citizens who have a certain reserve of funds sufficient to repay the loan in accordance with the schedule and satisfy their own needs over a long period (up to six months or more). The presence of reliable relatives or friends who are able to provide the necessary financial assistance in a difficult situation also makes the insurance service irrelevant.

In other circumstances, the insurance of the loss of solvency is beneficial to the client - the safety of the collateral will be ensured, the validity of the loan agreement will not be violated, and the borrower's credit history will not deteriorate.

The loss of a job is due to a number of important factors - loss of trust on the part of the employer, strained relationships with colleagues, or a banal layoff. Involuntary loss of work leads to the fact that there is simply nothing to pay off the loan with. The job loss insurance program is an excellent opportunity to insure all possible financial risks and unforeseen events, to get the opportunity to fully fulfill their obligations in the future.

What is the attractiveness of this type of insurance?

Job loss insurance in Moscow has several advantages at once:

• all payments on loans in banks are made by a financial and commercial institution - an important condition of the insurance contract;
• credit history will not be bad due to possible delinquencies;
• you can easily assign responsibility for payment due to the deterioration of the financial situation on the insured;
• if you lose your main job, your relatives, who are guarantors, will not be held responsible for this;
• registration takes place at a reduced rate.

It is necessary that the insurance company you have chosen is reliable, fulfills all its obligations, and in case of insured event could fully cope with payments.

It happens that a person takes a loan, and after a while loses the ability to repay it. In most cases, this is due to the fact that he is experiencing financial difficulties caused by the loss of his job. Problems begin, all the plans that were built simply collapse. Job loss insurance is a great way to hedge against unforeseen situations.

Job loss insurance - what is it?

This is that if a person has lost his job, the insurance company will be obliged to pay him the amount that he should, on average, give for a loan. It's very convenient, you can't even argue here. Job loss insurance will keep people safe. Depending on which program is chosen, payments will be received in full within 6 or 12 months. During this time, you can find a new job for yourself.

Insured events

Before looking for a company that offers such a service as job loss insurance, reviews are studied very carefully about each individual organization. You must be sure that you are in good hands.

It is important to note the fact that if a person independently decided to leave his place of work, then this case is not insured. Each organization offers its own list of conditions for receiving payments, but there is a standard list that everyone adheres to.

List of insured events:

• Job loss insurance will help in the event that the organization where the person was employed was liquidated for various reasons.
• The staff is subject to reduction.
• The owner of the company changed, who introduced its own rules.
• The contract was terminated for reasons for which neither party was to blame, for example, disability or conscription.

In what cases payments will not be made

Job loss insurance does not provide benefits in the following situations:

• Dismissal due to employee violation.
• Dismissal without explanation (of their own free will).
• Loss of working capacity due to the fault of an employee, for example, harm to health and non-observance of safety precautions while intoxicated.

What types of loans are eligible for insurance

Job loss insurance with a loan is considered a very common service today. It doesn't matter what type of loan a person has, he can take out insurance in any case, be it consumer credit or mortgage.

The easiest way to explain the paperwork for a loan is that you want to take out this type of insurance. It will be beneficial not only for you, but also financial institution... Most often, they already have signed contracts with several, so the employees will not only advise, but also help arrange everything.

Benefits of an insurance contract

Conclusion of a contract of this type will always be appropriate and useful. No one can be completely sure of the future. Problems can arise when you least expect them. The company will spontaneously close, or other problems will appear. In the event that you took out insurance in case of loss of work, all this can be survived with minimal damage.

Benefits of signing a contract:

• In the event of an insured event, the loan payments are paid by the insurance company.
• Credit history will not be spoiled.
• You will have enough time to find a new job.
• The conclusion of such a contract is not expensive, but you will feel safe.

Mandatory requirements

If a person decides to conclude an insurance contract in the event that he loses his job, he must meet the following criteria:

• Have an internal passport and be of legal age.
• Work experience from the last job must be at least three months.
• The total length of service must be at least a year.
• The employee must be officially employed and have an employment contract.

Mortgage Job Loss Insurance

A mortgage loan is one of the most common cases of receiving insurance payments. The criteria may vary from organization to organization, but the essence remains the same. In the event that you lost your job through no fault of your own and are temporarily unable to pay your mortgage, the insurance company with which you signed the contract will take over. Of course, you will need to submit documents, the list of which is quite extensive, but you will be completely sure that you have secured yourself.

Documents required to receive payment:

• A copy of the internal passport.
• Having a copy of your work book, which confirms your work experience.
• Duplicate of the terminated agreement in order to confirm that the employee is not guilty of deprivation of solvency.
• Bank certificate stating that you have mortgage debt.

Do I need to insure myself against loss of solvency

Opinions differ when it comes to discussing a service such as job loss insurance. Reviews can be found both positive and negative. Some people avoid concluding a contract because, in case of difficulties, they can turn to friends or relatives for help. However, such an act is impractical.

Basically, only those clients who lost their jobs through their own fault and could not receive insurance payments remain dissatisfied with the contract. Do not forget that this agreement is concluded in such cases when the organization closes or abruptly begins to lay off employees in connection with You can be sure that your mortgage or any other loan will be paid on time during the period while you are looking for a new job for yourself.

The conclusion of an insurance contract in case of loss of solvency on a loan is very beneficial. Your credit history will not be damaged and you will not lose your mortgage or other property. Of course, all this only applies if your case matches the insurance one.

Who can insure?

• A full-time client at the age of 18 full years at the start of the insurance period and until the Insured reaches the retirement age (for men - 60 years, for women - 55 years inclusive) at the date of expiry of the insurance period for this risk;
• As of the date of the conclusion of the Contract, an employment contract concluded between the Insured and the employer must be in force, providing for full employment (40 hours per week) and receiving remuneration for work by the Insured in the form of a monthly wages... Temporary incapacity for work due to pregnancy and childbirth, parental leave and a probationary period are also an obstacle to the conclusion of the Agreement, unless otherwise specified in the terms of the Agreement.
• The total length of service of the Insured must exceed 12 months (in particular, at the last place of work of the Insured, at least 3 months).
• As of the start date of the insurance period for this risk, the Insured must not have a notice of dismissal from the employer;
• On the date of conclusion of the Agreement and during the term of the Agreement, the Insured must not be individual entrepreneur, a shareholder (participant) of the Insured's employer, a close relative of the employer (spouse, parents, children, adoptive parents, adopted children, siblings, sisters, grandfather, grandmother, grandchildren), a temporary seasonal worker, an employee in an industry that implies a seasonal nature in work;

What job loss options does the program cover?

• Death of an employer - an individual entrepreneur, as well as recognition by a court of an employer - an individual entrepreneur as deceased or missing.
• The onset of extraordinary circumstances that prevent the continuation of labor relations (military action, catastrophe, natural disaster, major accident, epidemic, etc.), if this circumstance is recognized as an emergency decision of the Government of the Russian Federation or the state authority of the corresponding subject of the Russian Federation.
• Refusal of the Insured to continue labor relations in connection with a change in the owner of the organization's property, with a change in the jurisdiction (subordination) of the organization or its reorganization, with a change in the type of state or municipal institution.
• Refusal of the Insured to be transferred to another job in accordance with a medical certificate issued in the manner prescribed federal laws RF, or the employer does not have the appropriate job.
• Refusal of the Insured to be transferred to another location together with the employer.
• Employer's initiative in case of liquidation of the organization, or termination of activities by an individual entrepreneur; employer initiatives in connection with the reduction of the staff of the organization or individual entrepreneur.
• The employer's initiative in the event of a change in the owner of the organization's property (in relation to the head of the organization, his deputies and the chief accountant).
• The employer's initiative in connection with the termination of admission to state secrets, if the work performed requires admissions.

What is the monthly payment?

• The insurance benefit is made in the form of monthly payments for each full month of the Insured being in the status of unemployed.
• The amount of the monthly insurance payment is equal to one fifth of the sum insured under the Insurance Contract, but not more than the size of the average monthly salary of the Insured for the last 6 (six) months of work experience preceding the insured event. The total amount of payments for one insured event cannot exceed the amount of the insured amount specified in the Insurance Contract.
• The contract provides for a period of 60 (sixty) calendar days from the moment of the occurrence of the insured event, during which insurance payment... In case of repeated occurrence of an insured event under the risk "Living until the loss of job" during the insurance period, there is no deferred period.

What are the conditions for receiving a payment?

• More than 90 days have passed from the moment of purchasing the policy to the loss of work.
• The reason for losing your job coincides with one of the conditions listed in the section "Insurable risks".
• The insured applied to the employment service for registration for unemployment within two weeks after the dismissal. The Insured has provided the Insurer with required documents within 90 days from the date of termination of the employment contract.