Whether to insure against job loss if you took out a loan. Job loss insurance at vtb bank Job loss insurance

7 minutes to read. Views 89 Posted on 08.09.2018

According to the results of the statistics, few Russians who apply for a loan at Sberbank know about this type of insurance services, such as protecting a client from an unplanned loss of a job. This type of policy is offered to clients by financial and credit organizations, mainly when concluding an agreement for the provision of a long-term loan (for example, a mortgage). This policy is also available to ordinary citizens, on their own initiative.

Any client of the bank, when applying for a home loan, is faced with an urgent request from the mortgage manager to issue an insurance policy. Some types of insurance (for example, for mortgaged housing) are compulsory. Insurance against the loss of Sberbank's job is not among the necessary ones, but borrowers should think about this insurance.

Features of the insurance program against job loss

The essence of this insurance is based on the provision of guaranteed assistance to borrowers in case of loss of work, which is the source of the main income. As a result, for this reason, there are great difficulties in paying off the mortgage debt to the bank and subsequent troubles up to the loss of the mortgage housing.

Insurance against the loss of Sberbank's job becomes most relevant if the client-borrower works in an unstable organization, especially during financial crises, when there is a high chance of joining the ranks of those who have been reduced.

In the event of an insured risk, the borrower receives the required compensation from the insurer. Naturally, the loss of service must be documented - only under such conditions the insured person is entitled to payment. Compensation consists of temporary repayment by the insurer of monthly payments on a housing loan for a period of 6-12 months.

Usually, during this period of time, the client finds another job and returns to his usual financial situation. The object of insurance when concluding this policy is the sudden loss of a job - according to statistics, this is the reason that is the most frequent when problems arise with payments on a mortgage loan.

Pros and cons of such a policy

Experts attribute the following aspects to the main advantages of such insurance:

1. Timely and fast financial support. Insurance payment is made exactly when it is especially needed.
2. Affordable cost of the policy. This insurance program is distinguished by a reduced price policy and acceptable monthly payments, which allows the insured person to lead a normal life without undue financial constraints.
3. Simplified payment system. Insurance payments are made according to the automatic payment system. It is not necessary for the insured person to come to the insurance company every month to make the next installment.
4. Insurance can be obtained for any type of lending.

But, upon a detailed examination of the conditions of insurance, experts also reveal some disadvantages. The main fact is that not all cases of job loss are defined as a case of risk. For example, if a client left as a result of staff layoffs, having issued the dismissal as "their own desire", then he will be denied insurance.

Insurance requirements

Sberbank makes certain requirements for a client wishing to issue such a policy. It can be concluded by citizens who meet the following set of conditions:

• Russian citizenship;
• official employment;
• general work experience: from 1 year;
• working age (18-60 years old).

The insurance against sudden (unplanned) loss of the place of work is valid for the entire duration of consumer or mortgage lending. The total cost of the policy depends on the type of the chosen direction and the term of the client's loan.

Insurance risks

Before you start drawing up an insurance policy in this area, you should know what the insurance risks will include. Each client needs to know these nuances, especially borrowers who draw up long-term loan obligations.

Many of the bank's clients do not fully understand what exactly is meant by the concept of “job loss” and under what conditions they will be entitled to an insurance payment.

Unplanned dismissal (through no fault of the payer)

Loss of duty insurance does not work in all cases of dismissal. You need to know that if there is a mark "of your own free will" in the work book, the policy will lose its validity. Since such a calculation is not included in the insurance risk. The insurance will only cover cases of dismissal initiated by the employer... In particular:

1. Downsizing. Termination of the employment contract due to a decrease in the number of employees of the enterprise in connection with the need. Such dismissal is regulated by Article 81, Clause 2 of the TG RF.
2. Agreement of the parties. Provided that the initiator is the employer. At the same time, there should be an entry in the work book with a note that the dismissal took place on the basis of Article 78 of the Labor Code of the Russian Federation.
3. Liquidation of the enterprise. There must be a corresponding entry in the work book (dismissal takes place on the basis of Article 81, Clause 1 of the Labor Code of the Russian Federation).

Under the terms of the program, the insured person may receive an additional bonus in the event of a risk. After all, insurers are interested in the earliest possible normalization of the client's labor situation, so the bonus is in the comprehensive assistance of a new job. Namely:

• deal with stress after being fired;
• form an optimal model for finding another duty station;
• design and design a win-win resume for future interviews.

Temporary disability

The insurance program guarantees the payment of insurance compensations and in case of temporary loss of working capacity. Such cases include various industrial injuries, the development of occupational diseases. Registration of this insurance becomes especially relevant in the case of a mortgage loan - a home loan, which is issued for a period of up to 25-30 years.

When compensation is denied

In addition to dismissal at personal request, the insurer company provides for other cases that are guaranteed to become a refusal to receive insurance compensation. These are the following situations:

• dismissal under articles that rely on violations of labor laws (absenteeism, alcohol intoxication, violation and non-performance of labor duties, etc.);
• if temporary disability due to an industrial injury occurred due to drug / alcohol intoxication.

What to do in the event of an insured event

As soon as there was such a nuisance as an unplanned dismissal, the insured person needs to contact the insurer as soon as possible. This can be done by calling the call center (hot line). The operator will explain the entire further sequence of actions to receive compensation.

Upon dismissal, the former employee should register faster with the Central Employment Center (Employment Center). Only in this case can you count on compensation.

To receive compensation, it will be necessary to collect the required documents. The standard portfolio of documents includes:

• insured's passport;
• work book / employment contract;
• a certificate from the central office that the person is registered;
• an agreement with the lender bank (a bank statement and the amount of outstanding loan and a payment schedule indicating regular payments are attached to it).

The sooner the client provides the insurer with the documents, the sooner the insurance payments will begin. The client is given 10 days to register at the Employment Center and 60 days to contact the insurance company to obtain insurance.

Receiving insurance payments

The insurance program comes into effect 2 months after the date of the contract. And the first payment already becomes available for receipt 30 days after the activation of the insurance... Upon receipt of compensation, the following conditions apply:

1. Payments are made to the current account, which was indicated by the client in the application for compensation.
2. The payment under this insurance cannot exceed the average monthly salary of the insured person (data for the last year of work is taken). Payments cannot exceed 74,000 rubles per month.
3. The maximum allowable number of insurance payments is no more than six.

The amount of payments directly depends on the cost of the concluded insurance. The policy options can be found in the following table:

conclusions

It is worth remembering that this type of insurance direction is designed not only for mortgage / credit clients of Sberbank. Anyone can apply for such a policy. This type of insurance will save you from unpleasant situations when the borrower loses his job and has nothing to pay off his loan obligations. In case of loss of profitable place due to circumstances beyond the control of the client with the help of the policy, all contractual banking obligations will be fulfilled. And the citizen himself will be able to start looking for a new job in a calm atmosphere.

VTB is one of the largest financial institutions in Russia. Thousands of different financial services are provided here every year.

The layoff insurance program is quite relevant among people with debt obligations. You can also apply for it at VTB Bank. Let's figure out what it is, how it works and whether it is profitable.

What is layoff insurance and how does it work?

Loss of job insurance VTB is a fairly popular type of insurance that can help find the best solution to the problem. It provides for the annual payment of a special policy, as well as payments in the event of an insured event.

As a rule, it is used by borrowers who have debt obligations to VTB Bank.

It is worth noting that insurance services will not be able to fully protect you from losing your job.... Nevertheless, employee protection provides for payments that will help you not to spoil your credit history.

In the legislation of the Russian Federation there are no clauses that would prohibit or permit the use of insurance.

Features of insurance against job loss, services

The conclusion of insurance for a loan will help protect not only the employee from financial losses, but also the VTB credit organization itself.

Unlike America and European countries, self-insurance is not very popular in Russia. However, it is possible to apply for a policy and receive monetary compensation in the event of an involuntary job loss.

Important! The conditions for issuing a policy may differ in different organizations.

"Green Parachute" Involuntary Job Loss Insurance Program

"Green Parachute" - a program for involuntary job loss from Sberbank. True, since it is a promotional offer, activation of the offer is not available to all citizens. Only those who have a positive history of housing lending in this financial institution will be able to issue an insurance policy.

The peculiarity of the program is that the client receives assistance from the insurance company in finding a new job, which will offer a list of vacancies with the rating of the organization and the reliability of the employer.

Also, the "Green Parachute" program is notable for its affordable cost. The price of tariffs is from 190 to 1990 rubles. Compensation that a person can use - from 90,000 rubles. The contract is valid for 12 months, after which it can be extended.

Concept

Employment insurance is a service from VTB, which provides for payments to a bank client in case of loss of a job.

It is worth noting that the conditions for such insurance depend on a specific company, therefore, before contacting anywhere, you should carefully study the conditions of several insurers, compare them with each other and choose the most suitable organization.

The client of the bank will have a period during which he will be able to look for a new job without worrying about making payments on the loan.

They offer to issue such insurance when concluding a loan agreement with VTB. To do it or not - everyone decides for himself.

Requirements for a citizen when applying for a policy of this type

The main requirements of VTB:

• the client has a passport of a citizen of the Russian Federation;
• work experience of at least a year.

These requirements may differ depending on the chosen insurance company.

Required documents for registration

Required documents:

• passport;
• copy of the work book;
• documents on debt at VTB Bank (if you have a loan);
• a copy of the termination of the employment contract;
• confirmation from the employment center about registration;
• certificate on the form 2-NDFL.

Insured events

Insurance payout can only occur in the following cases:

• death of the employer;
• staff reduction;
• liquidation of a workers' organization;
• moving the company to another city, region or even country;
• changing the terms of the work contract;
• other extraordinary circumstances.

If the employer initiated the dismissal, insurance will work in almost all cases, except for two:

• reason for dismissal - unfair performance of their labor obligations;
• you quit of your own free will due to changed circumstances (relocation of the company, change in the level of salary).

Cost and payments

The cost of the policy is different, depending on the insurance company with which you decide to enter into a contract. Payments, in turn, depend on the policy.

The waiting period is 3 months-1 year.

What do you need for payments?

Within ten days after the termination of the employment contract, the citizen must register at the employment center, and then notify the insurer about the occurrence of the insured event.

Within two months, you can receive earnings if there is an official statement on the reduction of personnel.

Then, within three months to a year, you will be paid money from VTB. During this time, you have the right to look for a new job.

Insurer's rights

Job loss insurance reserves the following rights for a person:

• if VTB Bank refuses to pay monetary compensation, the citizen can complain to the regulatory authorities;
• if the insurance company does not perform its duties properly, it can be brought to both administrative and criminal liability;
• the citizen also reserves the right to sue VTB Bank if it does not fulfill its obligations.

Where to go?

You can apply for job loss insurance at the following credit institutions:

• Sberbank;
• Ingosstrakh;
• Tinkoff;
• Renaissance Credit.

Advantages and main disadvantages of this type of policy

Among other types of insurance - job loss insurance - the newest type. It is convenient for both insurers and policyholders, since some receive income, while others - the confidence that during the next economic crisis it will be possible to pay the bills and not borrow money from relatives.

Insurance is an opportunity to receive cash payments on a monthly basis (or to receive the entire amount 1 time), subject to the unexpected dismissal of a qualified employee for reasons independent of him.

Dear reader! Our articles tell about typical ways of solving legal issues, but each case is unique.

If you want to know how to solve exactly your problem - contact the online consultant form on the right or call by phone.

Insurance rates

A personal rate is set for each specific policyholder. Sometimes the client is given a flat rate.

In this case, the calculation of payments is easier. But in order to take into account more factors that determine the profitability of the transaction for the insurer, some companies prefer the interest rate of the money.

The insurance interest will depend on:

• the position held by the person;
• the amount of his salary;
• length of service in one workplace (experience must be at least a year);

This is true, and the client must understand that the insurance company is a commercial organization, not a government one. The rate ranges from 0.8 to 10% maximum. But usually 2 or 3%.

That is, if a working person has any cash reserves that are enough to live at least 6 months without receiving wages, insurance will be superfluous. It is not beneficial in such a situation. And since consumer philosophy does not call for frugality, more often wages are spent immediately. This is what insurance companies are betting on.

Insured event occurrence

Before getting insured, you need to understand what an insured event is. Not every dismissal will be paid by the insurer.

Note that he (the insurer) has no reason to pay a dismissed low-skilled employee, or someone who left of his own free will and decided to earn money without officially getting a job.

We list those cases of dismissal that will still be considered insured:

1. Reduction of staff (with written notice).
2. Reinstatement to the position of a former employee.
3. Liquidation of the enterprise.
4. Dismissal due to obtaining a disability group (1 or 2).

But insurance is not paid if:

1. The employee has been laid off, but has not received formal notice.
2. The disability was obtained as a result of an accident through the fault of the employee himself.
3. Dismissal due to the use of alcoholic beverages or strong drugs.
4. Dismissal at personal request or by agreement of the parties.
5. Dismissal due to gross violation of safety regulations.
6. The employer refused to sign the employee an employment contract after the due date of the test.
7. There was an official transfer from full working rate to half rate.
8. The policyholder receives monthly payments from the employment center.

If a potential client is satisfied with this state of affairs, he fully agrees with the company's policy, signs a contract and does not claim payment if the dismissal is not considered an insured event.

How do I get paid?

To receive payments after the occurrence of an insured event, you need to contact the insurance company, having previously prepared the necessary documents:

1. Passport of a Russian citizen (and a copy of the passport).
2. Terminated employment contract (copy). If there is no long-term employment contract with an employer, you will not be insured.
3. Labor book with a record of the loss of a job (both original and copy).
4. 2 obligatory certificates (one about average monthly income and the other from the employment fund). Another certificate is needed from the bank if the client has an unpaid loan.

The insured event will be paid only a few months after the conclusion of the contract. Each company has its own period. This nuance in the insurance contract is present for the safety of the company itself. Indeed, many clients guess in advance about the bankruptcy of their enterprise, and want to receive money immediately after its liquidation.

This means that the algorithm for obtaining legal payments is as follows:

1. After the loss of an official job due to circumstances beyond your control, start preparing certificates. Be sure to register with the employment fund.
2. If there is an outstanding loan, and you insured it in advance, get a certificate from the bank.
3. After the expiry of the period that excludes the appeal to the insurer specified in the contract, you can come with the entire package of documents and demand payment.
4. Only after the company has approved the insured event, the policyholder has the right to rely on his money.

To make sure that the insured is really unemployed, the agent of the insurance company will check your work record every month.

Benefit or Loss?

This is a completely new area in insurance, besides, Russian people usually only insure in emergency situations. And companies set not very high prices for their policies - no more than 10 thousand rubles. But at the same time, the conditions for obtaining insurance are tough.

However, the benefits are not bad from the deal. Namely:

1. You don't have to worry about losing your job in an economically difficult time. Even when there is severe unemployment in the country, you will remain “afloat”.
2. Cash payments are usually guaranteed for 6-12 months.
3. If the client has a long-term loan, the insurer can count on his credit history to not be negative.

The discerning policyholder knows that there are also disadvantages to the insurance contract. The downside is that the employer, in the event of a layoff, most often writes a different reason for the dismissal. And having received an entry "by agreement" in the labor book, the dismissed employee cannot expect insurance payments.

Another disadvantage is the inability to get a policy for an unofficially working individual.

So, to win 100% against the insurance company:

1. Form a clear assessment of each proposal. One offer may not work for you, but another will be beneficial.
2. Assess adequately your insurance experience and position. Will the insurer consider you a profitable customer?
3. Also analyze the insurer. Look through the reviews of the companies, find out the opinions of people who have already been insured. Some companies may not be worth your attention.
4. Explore the pitfalls of insurance. That is, check all the conditions on which the contract is built. The more detailed the conditions under which the insured event is paid, the more confidence that you will still receive money.

If you want to get insured, study in advance all the offers that various insurance companies are ready to provide.

A lot of companies refuse to pay any sums, citing the fault of the employee in the dismissal, or other nuances that he missed when reading the contract.

This applies to unscrupulous insurers. It will take a lot of time to find a responsible insurer who takes care of its rating among competing companies. Get ready, study your situation from various angles, consult with lawyers. And when everything is checked, you can sleep peacefully.

Who can insure?

• A client who works on a permanent basis 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 the receipt of remuneration by the Insured for work in the form of a monthly salary. 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 date of commencement of the insurance period for this risk, the Insured must not have a notice of dismissal from the employer;
• As of the date of conclusion of the Agreement and during the term of the Agreement, the Insured must not be an individual entrepreneur, shareholder (participant) of the Insured's employer, close relative of the employer (spouse, parents, children, adoptive parents, adopted children, siblings, sisters, grandfather, grandmother , grandchildren), temporary seasonal workers, employees 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 constituent entity 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 accordance with the procedure established by federal laws of the Russian Federation, or the employer does not have an appropriate job.
• Refusal of the Insured to be transferred to another location together with the employer.
• The employer's initiative in the event of the liquidation of the organization, or the 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 carried out 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 insured amount 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 established 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 no insurance payment is made. In case of repeated occurrence of the 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 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 "Insurance risks" section.
• The insured applied to the employment service for registration for unemployment within two weeks after the dismissal. The Insured has provided the Insurer with the necessary documents within 90 days from the date of termination of the employment contract.

Job loss insurance is applied in two cases: against unemployment and upon obtaining a loan. In the first case, the citizen enters into a voluntary insurance contract. He guarantees him, in the event of dismissal, temporary financial support within the limits of the 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 payments to the credit institution prior to the employment of the Insured.

Voluntary job loss insurance

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 No. 1032-1 of 1991 “On Employment of the Population”. Read about title insurance when buying an apartment.

Insurance risks (possible events) are:

• Dismissal at the initiative of the employer, including due to the termination of the work of the enterprise (organization) due to bankruptcy.
• Termination of an employment contract for civil servants due to staff or headcount reductions.
• Invalidity of the contractual relationship due to a change of ownership.
• Termination of a citizen's labor activity due to objective circumstances:
  • conscription;
  • reinstatement of another employee in the workplace by court order;
  • not being elected to office;
  • dismissal of a contract soldier ahead of schedule for family reasons.

On the video - job loss insurance:

Purpose of insurance: compensation by the Insurer for loss of wages.

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

Insurance companies

Insurance companies use such a product at high rates.

Reasons - high risk due to the possibility of the Insured to influence the occurrence of the insured event, unpredictability of the economic situation. In addition, additional requirements are put forward, without which the UK refuses to conclude an agreement. Read about apartment mortgage insurance.

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

How to get insurance

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

On the video - getting insurance:

• deliberate injury;

Required for registration:

• passport data;

The amount of the insurance premium is 1-2% of the compensation.

How to insure yourself in the event of a loan or mortgage

Some banks, when issuing a loan, at the same time as the client's demand, include a term of insurance against dismissal. The purpose of insurance is to reimburse a credit institution for a loan debt while the borrower is not officially employed.

The term of the agreement is negotiated in each specific case: before applying for a new job or for a certain period. Learn about third party liability insurance at.

Insurance conditions

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

For this reason, they will be denied insurance:

• individual entrepreneurs;
• seasonal workers;
• individuals with private practice;
• acting on probation or maternity leave;
• part-time workers;
• freelancers;
• other professions listed in the UK.

On the video - credit insurance:

Do not fall under the definition of insurance risk and do not take into account:

• dismissal of their own free will and consent of the parties;
• if the Policyholder had on hand a notice of termination of employment;
• upon dismissal without notice;
• deliberate injury;
• part-time work;
• termination of employment in connection with a strike.

The policyholder must meet a number of requirements:

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

All job loss policies take effect after a month or two.

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

Required for registration:

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

Additional conditions determined by the IC are:

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

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

During this period, no interest will be charged due to delay in loan payments, and the credit history will not worsen.

Mortgages and layoff insurance

The Mortgage Lending Rules stipulate that the acquired property is pledged by the lender until the debt is repaid. Delay in payments leads to an increase in loan payments due to penalties, up to the termination of the Agreement and the seizure of the collateral. Dismissal insurance is voluntary, but under the terms of registration, the borrower is forced to insure not only his own life, but also the loss of his job.

Insurance policies from VTB

Since 2014, the program "Live-do not grieve" 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 civil servants. At the moment, VTB Insurance has excluded dismissal insurance from the product “Live, do not grieve”, leaving life insurance. Also, there are other banks.

Video - mortgage and insurance:

The new product "Golden Parachute", which will be offered to customers, has a contract term of 4 to 6 months, with an amount of compensation to the bank of up to 100, 0 thousand rubles. per month. The policyholder's age is up to 60/55 years. Requirements for work experience - at least 1 year. Read about the description and reviews of the insurance company Zhaso in.

Offers from Rosgosstrakh

Rosgosstrakh offers Borrower Liability Insurance in its comprehensive mortgage lending program. The insurance product is applied with a minimum down payment of 10% of the cost of housing. Loss of the source of payment of the loan (including dismissal from work) in this case is not covered by funds from the sale of mortgaged 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 concluding 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 unforeseen situations, including involuntary loss of work. The term of the contract is 4 months, one month after the occurrence of the insured event. Temporary deductible - 2 months. Insurance of loans issued by Cetelem Bank.

The procedure for applying for a loan reimbursement in case of dismissal is the same for all ICs.

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

1. Register with the employment service and obtain unemployed status.
2. Notify the Insurer by sending him:
   • notification completed in accordance with 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 indicates one of the reasons for dismissal provided for in the policy.

The temporary deductible is effective from the date of termination of the employment agreement. Upon its expiration, within the period specified in the policy, an application for repayment of the loan and a certificate of registration with the employment service are sent to the Insurer.

Consumer loan

When issuing a consumer loan, banks are more loyal to customers than when applying for a mortgage. The explanation for this is the short term of the agreement, smaller loan sizes, and higher 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 Cetel Bank.

On the video - insurance and credit:

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