They are leaving Alpha Insurance. What does job loss insurance provide?

This is a type of service that provides that in a situation where a client loses his job, the insurance organization:

1. Assumes the obligation to make monthly loan payments to the insured for a specified period of time or until the loss of employment.
2. In a situation where there are no credit obligations, the policyholder receives either a one-time payment or monthly payments during the period specified in the contract.

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Basically, the period during which insurers pay insurance amounts is no more than 12 months. Since it is believed that this period is enough to find a new job.

Advantages and Disadvantages of Job Loss Insurance

On the one hand, this type of insurance provides some financial protection. But on the other hand, these are additional costs along with payments on credit debt.

The essence of the benefits of purchasing an insurance policy in case of job loss is as follows:

1. The insurance company pays the loan debt.
2. There are no penalties, penalties or increasing loan debts.
3. A positive credit history is maintained.
4. Relatives and guarantors do not have to pay the loan debt of the person who has lost their job.

The disadvantages of this type of insurance are as follows:

1. These are high rates for this type of insurance.
2. To receive insurance payments, you need to provide an impressive package of documents.

Necessary documents for registration

When drawing up an insurance contract against involuntary loss of employment, the insurer requests the following package of documents from those wishing to insure themselves:

1. Application for registration of an insurance contract.
2. Russian citizen passport.
3. A photocopy of the work book.
4. Loan agreement and loan repayment plan.
5. Certificate of income individual in form 2-NDFL for three or six months preceding the date of application.

An insurance or banking organization may require others additional documents, which will make it possible to analyze the possible risks of completing insured event.

Insurance rules

They are spelled out in detail in the contract concluded by the insurance entities.

Each banking or insurance organization develops its own regulations, but there are general rules:

1. The contract is considered to come into force only after the client makes the initial payment of the insurance premium.
2. Failure of the insured person to pay the next installment gives the insurer the right to terminate the contract early.
3. In the event that the policyholder wants ahead of schedule terminate the contractual relationship, the amount of insurance premiums paid by him will not be refunded.
4. Upon dismissal (downsizing), if the client does not inform the bank about this at the time specified in the contract, then he may be refused compensation.
5. For a certain period of time, someone who has lost their job must register with the Employment Service, and:
   • Take part in seminars and round tables organized by the Service.
   • Participate in professional training, retraining and advanced training in the field of the exchange.
   • Every month, provide the bank with a certificate from the Service regarding registration as unemployed.
6. If, after concluding a contract, the insurer learns that the client has provided deliberately false data, then the company has the right to demand that the contract be invalidated.
7. After the insurer has received notice of dismissal or reduction from the client, he is obliged to:
   • Find out the reason why the person became unemployed.
   • Draw up an insurance act and calculate losses.
   • Calculate the amount of compensation after the client provides the list of documents specified in the contract.
   • Pay the required amounts or refuse if there are grounds for this.

The bank's refusal to make insurance payments can be appealed in court.

Insurance cases

Not every situation that involves job loss will be covered by insurance.

PThe reasons why an employee lost his job and an insured event occurred are:

1. Dismissal due to liquidation of the enterprise.
2. Reduction of staff.
3. Termination of labor relations when the owners of the enterprise change.
4. Termination of an employment contract for reasons independent of the will of both parties:
   • Conscription for military service.
   • Return of an employee who previously held this position.
   • State of incapacity.

Payment of compensation will be refused if the loss of a job occurred due to:

1. Dismissal of an employee on his own initiative.
2. Severance of labor relations due to violations of discipline.
3. Dismissals by mutual agreement of the parties.
4. Disability acquired by an employee through his fault due to his failure to comply with safety measures, as well as while under the influence of alcohol or drugs.

Banking and insurance organizations can significantly supplement this list.

How to receive payment

When an insured event occurs, you must immediately come to the bank within the time period specified in the contract with a package of documents:

1. Application for payment of insurance compensation.
2. Russian citizen passport.
3. The original and a photocopy of the work book with a record of dismissal.
4. A copy of the terminated employment contract.
5. A copy of the dismissal order.
6. A copy of the agreement with the monthly loan repayment schedule.
7. A certificate from a banking organization stating that there is a debt.
8. A certificate from the Employment Service confirming registration.
9. Certificate of income from work in form 2-NDFL.

All photocopies of documents must be properly certified.

Tariffs from different insurance companies

Today, many banks, as well as insurance companies, have job loss insurance in their list of services. At the same time, the size of insurance premiums differs significantly among different organizations.

1. At Renaissance Bank, the insurance premium is about 1% of the loan amount per month. The rate fluctuates depending on the terms of the contract.
2. The insurance amount at VTB 24 is 3.8% of the loan amount, the premium is paid monthly. The amount of the premium is determined for each individual client individually.
3. At Ingosstrakh Bank, the cost of insurance varies around 1% of the insured amount.
4. The amount of the policy contribution at Sberbank is set individually for each client.

Any bank or insurance organization in each specific case of insurance against job loss, taking into account various risks, sets a personal amount of the insurance premium.

Restrictions

There are a number of restrictions for taking out a job loss insurance policy:

1. Age. Insurance companies are ready to insure against involuntary job loss only for citizens of working age. Each company sets its own age limits, mainly from 18 to 60 years at the time of signing and expiration of the contract.
2. By type of activity. This type of insurance is not available:
   • For entrepreneurs.
   • Freelancers.
   • Self-employed workers.
   • Part-time workers.
   • Those who work in place of an employee who has gone on maternity leave.
   • Workers of other risky professions.
3. According to work experience. They will not be insured if your last place of work was less than 3, 6 or 12 months. All insurers have their own requirements.
4. Temporary benefit. The bottom line is that after contractual obligations are signed, they come into force only after one or three months. This is how companies try to protect themselves from situations where an employee, having learned about a layoff, runs to insure himself.

Each insurance company may have its own additional restrictions.

Risk insurance against job loss due to a mortgage

Since the mortgage loan is designed for several years, it is difficult to be confident in maintaining your current job in such a distant future. And the banks themselves strongly recommend purchasing several insurances for such a loan, including against job loss, while reducing loan rates.

Do you need to insure yourself in case of loss of solvency?

The answer to this question is more likely Yes than No. And that's why:

1. Recently, the economic and financial situation in the country leaves much to be desired.
2. A person, left without income, first of all spends his savings on the essentials for life, and not on paying off debt.
3. Not many people have rich relatives and friends who are willing to happily lend money to an unemployed person.

If you lose your source of income and if you have mortgage loan, a person will certainly get stuck in exorbitant debts. To prevent this from happening, banks began to offer a new job loss insurance service, which is of interest to both parties.

Often, having fallen into a debt trap, bank clients ignore loan payments, simply not depositing them into the bank account. This may also be due to job loss. The reasons why such workers are fired are very diverse - from the whim of the employer to layoffs. As a result, a person loses his only source of financing and faces the destruction of his long-term plans. If you decide to take out a loan, job loss insurance – best measure preventing debts and problems with the bank. Let's look at this procedure in more detail.

What is Job Loss Insurance?

This is a kind of service. Its essence is that the insurance company pays money to the bank instead of the borrower who suddenly lost his source of income. Payments are made over 6-12 months, depending on the individual situation and the selected program. It turns out that by using such a service, a person can calmly get involved in his own employment, placing the problem of repaying the debt to the bank on the insurer.

Usually, when issuing a loan, banks themselves offer to arrange insurance. Sometimes, without meeting this condition, issuing a loan is completely impossible. Most often, a financial institution enters into a contractual relationship with a third-party company, which will provide assistance if the borrower experiences force majeure circumstances. This is due to the fact that if the client loses solvency, the bank will still receive a profit, but it will be paid not by the borrower, but by the insurer.

Insurance cases in which you can count on support

Many borrowers, due to an incorrect interpretation of the concept of “insured event,” are faced with a misunderstanding of the money return procedure. Dismissal due to violation of labor discipline standards or personal expression of the employee’s will does not imply payment of insurance. In general, the set of insurance situations is established individually in each organization. But there is a basic list of cases that are insured:

• liquidation of the company in which the client worked;
• reduction in personnel or workforce;
• termination of contractual relations due to a change in the owner of the company;
• employee leaving the workplace due to circumstances that do not depend on the will of the parties.

In these cases, job loss insurance will apply. This only means that when you get into difficult life situation the partner will help out by depositing money into the bank instead of the client.

Cases when payment is refused

There are situations when the borrower will receive an outright refusal to pay the insurance; here is an approximate list of them:

• dismissal due to one’s own will;
• violation of labor discipline leading to leaving work;
• the employee receives payments from the employment service;
• loss of ability to work due to the fault of an employee.

How important is it to take out insurance?

Insurance services can be issued for any type of lending. Moreover, some banks will generally refuse to issue a loan if an agreement with the insurer is not finalized. The question is whether the client himself needs to enter into such an agreement; perhaps there is another way out of the situation. Let's consider the need to conclude this agreement for various types of lending.

1. Consumer loan. Since it is issued for a short period, the borrower’s financial situation is unlikely to change. Therefore, banks do not always apply for a consumer loan and demand compulsory insurance from losing their job, act honestly.
2. Car loan. This loan is issued on average for 3-5 years, that is, for a period for which financial income can be predicted more or less clearly and transparently. Therefore, taking out job loss insurance is a purely voluntary matter.
3. Credit card. If you are using credit card and pay off debts, keeping within Grace period, that is, almost immediately after spending, the use of this type of insurance is impractical.
4. Mortgage. This loan is issued for a minimum of 10 years, so in order to avoid unforeseen circumstances, you should enter into several insurance contracts, including insurance in case of job loss.

It is irrational to enter into such an agreement if you have good friends who will lend money or vouch for you, or if you have a reserve amount “for a rainy day”, which will be used to pay off debts if you lose your job. If you nevertheless decide on this type of insurance, the most affordable option concluding an agreement - directly contacting an employee of the bank where you are applying for a loan and expressing your desire to conclude this agreement. Although, you can bypass the bank by starting an independent search for good insurance companies. This will be less noticeable in terms of money, but more noticeable in terms of time and labor.

What are the advantages of an insurance contract?

Of course, the conclusion of this agreement is useful. After all, in modern world When crises come wave after wave, the reduction or liquidation of enterprises is not something out of the ordinary. Therefore, you cannot be sure of the stability of your own financial situation. In this regard, concluding an insurance contract has a certain number of advantages:

• loan payments are made using the insurer's funds;
• there are no risks of damage to your credit history due to delays;
• you get the opportunity to assign responsibility for the loan to a third party while you search for a new job;
• if you lose your main job, your relatives and guarantors will not be responsible for returning the money to the bank;
• Drawing up a job loss assistance agreement is a quick and inexpensive process.

But it is important to find a good insurance company, which, in the event of an insured event, will not shirk its responsibilities, but, on the contrary, will meet halfway and provide assistance.

Features of concluding an insurance agreement

You can enter into such an agreement during the process of applying for a loan in order to protect yourself and the banking organization from colossal financial costs. Unfortunately, in our country, self-insurance has not yet gained widespread popularity, however, if you have concerns about the near liquidation of the enterprise or layoffs, you can buy a policy under which you will receive support in the event of dismissal.

To create a relationship with an insurer, you must meet a minimum set of requirements:

1. Citizenship of the Russian Federation.
2. The age range is 18-60 years and 18-55 years for men and women respectively. Some organizations require that the borrower's minimum age be 21 years.
3. The length of service worked at the last workplace is at least 3 months.
4. Total work experience – from 1 year.
5. An important role is played by the fact of concluding an open-ended labor contract between the parties.

This is just a template set of conditions that must be met, but in some financial institutions There are auxiliary requirements that are prescribed and negotiated on an individual basis.

Cost of insurance services

The price of insurance services depends on the company with which you plan to enter into an agreement. In some cases, the cost indicator will be calculated as a percentage, and sometimes it is a fixed value. To pick up best option, you need to familiarize yourself with all the offers in detail and make your choice. Typically, the price of insurance ranges from 0.8 to 5% of the loan amount. If we're talking about about a fixed value, it is equal to 200 rubles. per month Sometimes the bank requires you to take out insurance and pay for it in a one-time payment, which averages 5-10 thousand rubles.

Unfortunately, in our country the cost of obtaining lending services is quite high. This is due to the special mentality of local citizens. The lion's share of our compatriots will never in their lives agree to pay their hard-earned money unless there are visible reasons for it. Therefore, citizens of the Russian Federation turn to insurance companies only in extreme cases, when the most terrible prospect is about to come.

Procedures for receiving payment in case of an insured event

In order for your dismissal to be accompanied by prompt compensation for the loan amount, you need to register with the Central Insurance Fund and contact the insurance office, taking with you a certain package of documents:

• copy and original passport;
• original and photocopied form of the work book;
• employment contract between the parties;
• credit agreement with a banking organization;
• certificate from a financial institution about debt;
• a document from the employment center indicating that you are registered;
• a certificate taken from your previous place of work, characterizing your average monthly salary.

Insurance against redundancy at work is the best way preventing risks for people who decide to take out a loan. Therefore, you will not have to worry much about penalties, penalties and increasing debt in a situation if you suddenly lose your job. The set of requirements for a person concluding an insurance contract is small, so you can enter into an agreement and feel psychologically comfortable.

Organizations offering favorable insurance conditions

Many borrowers who have decided to take out insurance are concerned about the question of where to get insurance in order to get favorable conditions and save on fees. Let's consider the most profitable offer insurers in this direction.

Program at Sberbank

This financial institution offers a special “Green Parachute” program. Losing a job is not always a good thing. Therefore, interaction with this bank guarantees you reliable insurance, which has several advantages:

• making payments when they are needed most;
• affordable cost of paying for insurance services in exchange for serious guarantees;
• simple and fast payment process.

Cost and benefits under the program

Absolutely every person who decides to become a loan client at Sberbank PJSC can participate in this program. This opportunity covers the loan in the event of the following circumstances: layoffs, layoffs; moreover, within the program you can receive an additional bonus in the form of assistance in finding a job.

"VTB 24"

The amount of insurance that you can count on when concluding an agreement with VTB-24 is about 3.8% of the loan amount. Insurance premiums are paid every month. For each individual case and for each client, calculations occur on an individual basis. Every client who is going to take out or has already taken out a loan from this bank can use the program.

"Renaissance Insurance"

This bank facilitates obtaining a job loss insurance loan; it is important to comply with a few simple conditions. The borrower pays for services in the form of a commission, and the insurance amount is 1% monthly period, more precisely, from 1% based on the size of the loan taken. If desired and necessary, it is possible to increase the loan value.

"Rosgosstrakh"

The company has been operating in the insurance market for quite a long time, and today its services are becoming increasingly popular. Rosgosstrakh offers insurance, the cost of which depends on the length of service and place of work of the borrower. You can count on receiving compensation in the event of loss of your job due to the liquidation of a company, official layoffs, or disability.

Thus, a policy in connection with probable dismissal is a useful and necessary service that will allow you to share the unbearable burden of a loan with a third-party company in the event of temporary disability. But it is important to wisely choose an insurance company on which your well-being and credit history depend.

Job loss insurance is used in two cases: unemployment and when receiving a loan. In the first case, the citizen enters into an Agreement voluntary insurance. It guarantees him, in the event of dismissal, temporary financial support within the limits of lost wages. In another situation, the interested party is the bank, thus limiting the risk of non-repayment of borrowed funds. The insurance company pays credit organization payments before employment of the Insured.

Voluntary insurance against job loss

A job loss policy is issued at the request of the citizen. The possibility of concluding an insurance agreement has a legislative basis: Federal Law of 1991 No. 1032-1 “On Employment”. Read about title insurance when buying an apartment.

Insurance risks (possible events) are:

• Dismissal at the initiative of the employer, including due to the cessation of work of the enterprise (organization) due to bankruptcy.
• Termination of a contract of employment for civil servants due to reduction in staff or numbers.
• Invalidity of contractual relations due to a change of owner.
• Termination labor activity citizen due to objective circumstances:
  • conscription into the army;
  • reinstatement of another employee by court decision;
  • not being elected to office;
  • dismissal of a contract serviceman ahead of schedule for family reasons.

In the video – insurance against job loss:

Purpose of insurance: compensation by the Insurer for wage losses.

The validity period of the agreement can be any, but not more than 12 months from the date of the insured event. According to the contract, the policyholder receives a one-time payment or a monthly transfer until new employment.

Insurance companies

Insurance companies apply such a product using high rates.

Reasons: high risk due to the Insured’s ability to influence the occurrence of an insured event, unpredictability of the economic situation. In addition, additional demands are put forward, without which the Investigative Committee refuses to conclude an agreement. Read about apartment insurance with a mortgage.

Unemployment insurance in difficult economic conditions carries a high risk for Insurers. The insurance product was first offered about 100 years ago in the United States and found widespread use in Germany in the 1980s as the economy grew. Crisis events slowed down the development of this insurance product. He will tell you about the forwarder's liability insurance policy.

How to take out insurance

• seasonal workers;
• part-time workers;
• freelancers;

Video showing how to obtain insurance:

• intentional injury;

For registration you need:

• passport details;

The insurance premium is 1-2% of the indemnity.

How to insure yourself when taking out a loan or mortgage

Some banks, when issuing a loan, simultaneously with the client’s request include a condition for insurance against dismissal. The purpose of the insurance is to reimburse the credit institution for the loan debt during the borrower’s absence from official employment.

The validity period of the agreement is determined in each specific case: until starting a new job or for a certain period. Find out about third party liability insurance at.

Insurance conditions

The main requirement of the Insurer is the existence of a permanent employment contract recorded in the work book.

For this reason, the following will be denied insurance:

• individual entrepreneurs;
• seasonal workers;
• individuals with private practice;
• acting duties on a probationary period or during maternity leave;
• part-time workers;
• freelancers;
• other professions, a list of which is available in the UK.

In the video - insurance for lending:

Not included in the definition insurance risk and are not taken into account:

• dismissal at one's own request and with the consent of the parties;
• if the Policyholder had a notice of termination of employment;
• upon dismissal without notice;
• intentional injury;
• part-time work;
• termination of work due to a strike.

The policyholder must meet a number of requirements:

1. Age limit: not younger than 20 and not older than 60 years.
2. Work experience of at least six months or a year.
3. Absence bad habits: alcoholism and drug addiction.

All job loss policies kick in after a month or two.

If the insured event occurs before this period, the Policyholder will not receive compensation due to a violation of the terms of the Contract. The franchise gives the Insurer a guarantee that the client did not know about the dismissal when concluding the agreement.

For registration you need:

• passport details;
• work book with an extract from the last place of work;
• information about earnings for the previous 6 months.

Additional conditions determined by the Insurance Company are:

• in terms and procedure of payment;
• restrictions on professions and work experience;
• temporary franchise;
• refusal in the absence of unemployment benefits or receipt of payments for which it is not due (for pregnancy and childbirth, disability, etc.).

Thanks to dismissal insurance, the borrower has time to find a job.

During this period, no penalties will be charged due to late loan payments, and your credit history will not deteriorate.

Mortgage lending and redundancy insurance

In the Rules mortgage lending it is stipulated that the acquired property is pledged to the creditor until the debt is repaid. Delay in payments leads to an increase in loan payments due to penalties, up to and including termination of the Agreement and seizure of the collateral. Dismissal insurance is voluntary, but according to the terms of registration, the borrower is forced to insure not only his life, but also the loss of his job.

Insurance policies from VTB

Since 2014, the “Live and Don’t Worry” program has included a policy in case of job loss. Cost – 1.0 thousand rubles, insurance coverage 40.0 thousand rubles. The insurance did not apply to military personnel and government employees. At present " VTB Insurance"excluded insurance against dismissal from the product "Live, don't bother", leaving life insurance. Also available in other banks.

Video: mortgage and insurance:

In the new product “Golden Parachute”, which will be offered to customers, the contract period is from 4 to 6 months, with the amount of compensation to the bank up to 100.0 thousand rubles. per month. The Policyholder's age is up to 60/55 years. Work experience requirements: at least 1 year. Read about the description and reviews of the Zhaso insurance company.

Offers from Rosgosstrakh

Rosgosstrakh offers in comprehensive program mortgage lending “Borrower liability insurance”. The insurance product is applied with a minimum down payment of 10% of the cost of housing. The loss of a source of loan repayment (including dismissal from work) in this case is not covered by funds from the sale of collateral real estate.

Insurance conditions:

• insurance amount 10-50% of the loan;
• the insurance payment is established for the entire term of the contract;
• payment for the policy upon conclusion of the Agreement;
• The beneficiary is the bank.

“Sberbank Insurance” and involuntary job loss

LLC IC "Sberbank Insurance", thanks to the insurance product "Life Insurance of Borrowers", provides financial support to the borrower in the event of an emergency unforeseen situations, including involuntary job loss. The contract is valid for 4 months, one month after the occurrence of the insured event. Temporary franchise – 2 months. Insurance of loans issued by Cetelem Bank.

The procedure for filing an application for loan reimbursement in the event of dismissal is the same for all insurance companies.

Upon the occurrence of an insured event, the policyholder is obliged within 10 days:

1. Register with the employment service and receive unemployed status.
2. Notify the Insurer by sending him:
   • notification completed in the form;
   • a notarized copy of the work book;
   • a copy of the policy;
   • loan agreement with transfer dates;
   • terminated employment agreement;
   • passports.

The notice shall indicate one of the reasons for dismissal provided for in the policy.

The temporary franchise is valid starting from the date of termination of the employment agreement. Upon its expiration, during the period specified in the policy, the Insurer is sent an application for loan repayment and a certificate of registration with the employment service.

Consumer loan

When issuing a consumer loan, banks show greater loyalty to clients than when applying for a mortgage. The explanation for this is the short duration of the agreement, smaller loan amounts, more high interest rates. For amounts up to a million rubles, the borrower may not be required to insure the loan.

IC "Sberbank Insurance" connects the "Borrower's Life Insurance" program to consumer and car loans issued by "Cetelem Bank".

In the video – insurance and credit:

Insurance against job loss is relevant for citizens in conditions of declining employment, but is not profitable for insurance companies. Banks use this tool to limit their risks when applying for a mortgage, as well as with. Insurance increases the cost of the loan, which is disadvantageous for the borrower. But, in case of dismissal, the Agreement with the insurance company will help to avoid penalties and deterioration of the credit history.

Job loss insurance is a service of insurance companies that can be used when drawing up a loan agreement. And if an insured event occurs, the insurance organization will pay monthly loan payments for a certain period of time, during which the insured can find a new job and restore his financial position. Job loss insurance prevents you from ruining your job credit history, which will have a good impact on the bank’s positive decisions on issuing loans in the future.

Job loss insurance is a convenient service for those who are not confident in the stability of their organization. The company may close or reduce its workforce, causing the person to lose their ability to pay the loan.

The bank, as a lending company, is not interested in all these complexities of the client’s financial situation. The banking organization acts only in accordance with the rules and conditions that were specified when drawing up the loan agreement. Therefore, even if you lose your job, you will still have to repay the loan.

This is where job loss insurance comes in. This is a voluntary service and is not required when signing a loan agreement. Therefore, in order to conclude this type of insurance, you should check with the loan agreement specialist whether they have agreements with insurance companies for this type of service.

By insuring yourself for this type of service, you don’t have to be afraid that something will happen to the company where you work. If one of the insurance events occurs, you will need to report the occurrence of the insurance event within the time period specified in the insurance contract (5-30 days): contact the insurance office or call them by phone.

You will also need documents confirming the fact of the event, a copy of the work record book, a layoff order or other types of documents established by the insurer. After the documents arrive at the main office of the insurance agent, within 5-10 working days they recognize that the risk under the insurance contract has materialized. And they will either make a one-time payment for 6-12 months, or they will pay compensation on a monthly basis in the amount of the monthly payment under the loan agreement.

As a rule, insurance in case of job loss is an individual type of contract, i.e., it is drawn up between the client and the insurance agent. Accordingly, the beneficiary is also a client, and payments will be made to the account of the client, who has the right to dispose of the amount at his own discretion. The amount, frequency, sum insured and premium amount are specified in the policy, so the conditions may vary slightly for each insurer. All necessary information can be obtained from the policy and insurance rules.

What is considered an insured event?

If you insure yourself against possible job loss, this does not mean that you can simply quit of your own free will, and the loan will be paid by the insurance organization. The policy clearly states all events that can be considered insurable. These may include:

1. Liquidation of the enterprise. If your organization has ceased operations, you will have to look for a new job. Due to this Insurance Company will pay off the loan while you are looking.
2. Staff reduction. Many organizations optimize the business process and production at the enterprise. In this regard, one or another department can often be abolished due to its low efficiency. If the insured was fired due to staff reduction, this is an insured event.
3. Change of company owners. The company may be acquired by new owners. They often establish their own regulations and rules, which may not be to the liking of the organization's employees. You have the right to quit and start looking for new job is an insured event.
4. Termination of the contract for other reasons. This clause includes cases of termination of an employment contract in which neither the employee nor the employer can be to blame. This may include conscription into the army or deterioration of health, which prevents further fulfillment of work obligations.

What is not considered an insured event?

The policy also specifies those risks for which it is not possible to receive compensation from the insurance company. These usually include:

1. Dismissal at your own request. When an employee of an organization notifies the employer that he is quitting in writing two weeks before the date of the intended dismissal.
2. Violation of labor discipline. If an employee fails to cope with the duties prescribed in the regulations for his position. And also if the employee violated the rules, charter, regulations of his company, and therefore was fired.
3. Causing harm to health or property while under the influence of alcohol, drugs or toxic substances. Even if an employee received an injury due to which he can no longer continue working, but the injury was caused by alcohol or other intoxication, this will not be recognized as an insured event.

Types of loan agreements covered by the policy

A job loss insurance policy can be issued for any type of loan from a bank. This is especially true if the loan is long-term, since it is quite problematic to predict whether the company where the insured person is employed will operate stably.

You can also take out job loss insurance for a mortgage, car loan or consumer credit. The insurance contract can be drawn up immediately when drawing up the loan agreement.

Mortgage

A mortgage agreement differs not only in its long-term duration, but also in the amount the bank issues. Therefore, clients of such banks often try to protect themselves as much as possible from various types risks.

When applying for a mortgage, only a property insurance policy is required, but in addition, at your own request, you can insure against job loss, insure your life and health, and so on.

If an insured event occurs, you will need to confirm the fact of the event by providing a certain list of documents to your insurer. This may include:

• passport of the insured person;
• a certified copy or original work book with a note about loss of employment;
• a copy of the employment contract that was terminated;
• certificate of availability of a mortgage loan.

Requirements from the insurer

Not all clients can take out the policy. It is necessary that the client meets the minimum requirements of the insurance organization. These may vary slightly from company to company, but in general:

• general guardian of work for at least a year;
• work experience in the last place for at least 3 months;
• the age of the insured person is more than 21 years, but not more than 55 and 60 years for women and men, respectively;
• the official nature of the work, i.e. employment must be formalized in accordance with the Labor Code of the Russian Federation.

Is such an agreement necessary?

Everyone has the right to decide for themselves whether to insure against certain probable events or not. The policy, as a rule, has a small cost, depending on the insurer’s tariffs and the size of the loan from the bank. Such insurance is relevant for long-term lending.

If loan agreements are drawn up for six months to a year, then the likelihood of an insured event occurring is extremely low. It is also worth determining for yourself what will happen if you lose your job. Will you be able to repay the loan agreement from alternative sources

income?