What does unemployment insurance provide? Insurance against loss of employment in a mortgage

It happens that a person takes a loan, and after a while loses the ability to pay it. In most cases, this happens because it is experiencing financial difficulties caused by the loss of the workplace. Problems begin, all plans that have been built are simply collapsing. Insurance against job loss is a great way to keep yourself safe from unforeseen situations.

Insurance with loss of work - what is it?

This type of service consists in the fact that if a person has lost his job, the insurance company will be obliged to pay him the amount that, on average, he should give for a loan. Very convenient, there's no arguing. Insurance against job loss will protect a person. Depending on which program is chosen, the payments will be received in full within 6 or 12 months. During this time, you can find a new job for yourself.

Insurance cases

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

It is important to note the fact that if a person independently decides to leave his place of work, then this case is not insurance. Each organization offers its list of conditions for receiving payment, but there is a standard list, which all adhere to.

List of insured events:

• Insurance against loss of employment will help if the organization where the person was employed was liquidated for various reasons.
• Staff is subject to reduction.
• The owner of the company changed the rules.
• The contract was terminated for reasons in which neither side is guilty, for example, disability or conscription.

In what cases will payments be made

Insurance against loss of employment does not imply payment in the following situations:

• Dismissal due to violation of labor discipline of the employee.
• Dismissal without explanation (at will).
• Loss of performance due to the fault of the employee, for example, damage to health and non-compliance with safety regulations in the state of intoxication.

What types of credit allow insurance

Insurance against loss of employment in credit is considered a very common service to date. It does not matter what type of loan a person has, to arrange insurance, he can in any case, whether it's a consumer loan or a mortgage.

The easiest way for you to prepare papers for a loan is to explain to bank employees that you want to issue this kind of insurance. It will be beneficial not only to you, but also to a financial institution. Most often they already have signed contracts with several insurance organizations, so employees will not only advise, but also help to complete everything.

Benefits of the 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 expect them least. The company will spontaneously close, or other problems will appear. In the event that you have issued insurance in case of loss of work, all this can be experienced with minimal damage.

Advantages of the contract:

• In the event of an insurance event, the insurance company pays out the loan payments.
• The credit history will not be spoiled.
• You will have enough time to find a new job.
• The conclusion of such an agreement is inexpensive, but you will feel safe.

Obligatory requirements

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

• Have an internal passport and reach the age of majority.
• Experience from the last place of work should be at least three months.
• The total length of service must necessarily be at least a year.
• The employee must be officially employed and have an employment contract.

Insurance against loss of employment in a mortgage

Mortgage loans - one of the most common cases of obtaining insurance benefits. Criteria may vary among organizations, but the essence remains the same. In the event that you have lost your place of work through no fault of your own and temporarily can not pay the mortgage, the insurance company with which you signed the contract will do it. 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.
• A copy of his work record, which confirms the work experience.
• Duplicate of the terminated contract in order to confirm that the employee is not guilty of forfeiting solvency.
• Help from the bank that you have a mortgage debt.

Do I need to insure myself in cases of loss of solvency?

Opinions differ when it comes to discussing services such as insurance against job loss. Reviews can be found both positive and negative. Some avoid signing a contract because they can turn to friends or relatives for help if they are in difficulty. However, such an act is inexpedient.

The main dissatisfied contract is only those clients who lost their jobs due to their fault and could not receive payment on insurance. Do not forget that this agreement is in such cases when the organization closes or sharply begins to dismiss employees due to staff reduction. You can be sure that your mortgage or any other loan will be paid on time during that period, while you are looking for a new job.

The conclusion of a contract for insurance in case of loss of creditworthiness is very profitable. The credit history will not be spoiled, and you will not lose your mortgage or other property. Of course, all this works only when your case corresponds to the insurance one.