How does job loss insurance work? What does job loss insurance provide? Job loss insurance with a mortgage Where can you get insurance against job loss?

VTB is one of the largest financial organizations 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 and how does redundancy insurance work?

VTB job loss insurance is a fairly popular type of insurance that can help you find the optimal solution to the problem. It provides for 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 completely protect you from job loss.. However, employee protection provides payments that will help not ruin your credit history.

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

Features of job loss insurance, services

Taking out loan insurance will help protect not only the employee, but also the VTB credit organization itself from financial losses.

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

Important! Conditions for issuing a policy may vary among different organizations.

Involuntary job loss insurance program “Green Parachute”

“Green Parachute” is a program against involuntary job loss from Sberbank. However, 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 with this financial institution will be able to take out 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 organization’s rating and the employer’s reliability.

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

Concept

Insurance against employment is called a service from VTB, which provides for payments to the bank to the bank in case of loss of place of work.

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

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

It is offered to issue such insurance when concluding an agreement for lending to VTB. Whether to do this or not is up to everyone to decide for themselves.

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

Basic VTB requirements:

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

Depending on the selected insurance organization, these requirements may vary.

Necessary documents for registration

Required documents:

passport;
a copy of the work book;
Documents on debt at VTB Bank (in the event that you have a loan);
копия расторжения трудового контракта;
подтверждение из центра занятости о постановке на учет;
справка по форме 2-НДФЛ.

Insurance cases

Insurance payment can only occur in the following cases:

the death of the employer;
сокращение кадров;
liquidation of the workers' organization;
переезд фирмы в другой город, регион или даже страну;
изменение условий рабочего контракта;
другие чрезвычайные обстоятельства.

Если инициатором увольнения стал работодатель, страхование будет работать практически во всех случаях, кроме двух:

причина увольнения – недобросовестное исполнение своих трудовых обязательств;
вы увольняетесь по собственному желанию из-за изменившихся обстоятельств (переезд фирмы, изменение уровня зарплаты).

Cost and payments

Стоимость полиса различна, зависит от страховой компании, с которой вы решите заключить договор. Payments depend on the policy.

Длительность периода ожидания составляет 3 месяца-1 год.

Что нужно для выплат?

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

Within two months you can receive earnings if there is an official statement about staff reduction.

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

Insurer's rights

Job loss insurance leaves a person with the following rights:

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

Where to go?

You can apply for unemployment insurance from the following credit institutions:

Sberbank;
Ingosstrakh;
Tinkoff;
Renaissance Credit.

Advantages and main disadvantages of this type of policy

Advantages	Flaws
You can obtain such insurance for any type of VTB lending

« In a difficult economic situation, many people need additional protection. Nowadays, more and more often, clients are applying for insurance payments in connection with dismissal. Most often, job loss insurance is offered by banks to loan borrowers. Today we will tell you how such a product works“, says Hannes Chopra, General Director of Sberbank Insurance LLC.

A fairly high-ranking employee of one of the partner banks, Sberbank Insurance, purchased insurance at the very beginning of cooperation, as they say, for the sake of an experiment. After a recent layoff at the bank, he was left without a job - and took advantage of the insurance, which he bought only for fun. " Everyone is equal in the face of difficulties, and wealthy people also seek help, says Alexander Shaikin, head of underwriting and retail business methodology department at Sberbank Insurance. - However, insurance against job loss is much more necessary for ordinary employees - for some it is the last hope».

Currently, job loss insurance policies are sold mainly to loan borrowers - these could be consumer loans or a car loan. By law, companies do not have the right to impose another when purchasing one product. Therefore, the bank manager can only recommend purchasing an insurance product. As time has shown, those who took out insurance acted wisely. Recently, the number of requests for insurance payments has increased.

How does such insurance work? The policy guarantees replacement of the insured income for a specified period of time - usually three to six months. This means that if an employee is dismissed in connection with a reduction in the state, he will be able to receive for some time the amount comparable with the lost salary is already from the insurance company. For this, however, some conditions must be fulfilled. The insurance policy comes into force only two months after the acquisition. The fact is that by law the employer is obliged to warn the employee about dismissal in two months. The insurance company will not pay compensation to a person who was notified of the reduction before the conclusion of the insurance contract.

Further, insurance has the so -called temporary franchise - payments will begin 60 days after the occurrence of an insured event. This is necessary so that the former employee still makes efforts to find a new job. During this period or during this period, the former employer is obliged to pay the lost average monthly earnings to the dismissed employee. If these conditions are met, the insurance company makes payments starting from the 61st day from the date of entry into force of the contract. " The client to confirm the insured event must submit an application for the insured event, documents confirming that he worked in the organization and was dismissed, a certificate from the labor exchange

It must be borne in mind that the insurance company will not pay compensation in case of “unofficial” dismissal - if, for example, the employer forced his employees to write a statement “of their own free will”. In this case, you should seek protection to the supervisory authorities. In addition, people who occupy leading positions, individual entrepreneurs, military personnel and state civil servants are not subject to insurance.

« Earlier, some clients were treated with such insurance as an unnecessary, practically imposed thing. And now, in a crisis, for many this has become the last hope - people get time to solve their problems and can calmly look for work", - says Alexander Shaykin.

Loss of employment can occur for various reasons. But the result is the deprivation of material wealth, which is why long-term plans and obligations are violated. The situation will be even more difficult if there is a loan. Loss of loss insurance will solve this problem. The service has its own characteristics, which will be discussed in the article.

Concept

Employment insurance is a service in which the insurance company pays the client compensation if he has lost his job. The amounts of payments will be equal to monthly payments for a loan previously taken by a person. All companies offer their programs in which certain conditions apply.

In any case, the person will be given time to find a job. And during this period, he does not need to worry about paying a loan. Often the registration of insurance is proposed upon receipt of cash loans. Use this service or not, everyone decides on their own.

Advantages

In Russia, insurance in case of loss of work is not yet very common. But with the purchase of a policy, a person will receive compensation in case of dismissal. With this document, thanks to insurance payments, there will be no delay on the loan for 6 or 12 months. The size will be approximately 1 monthly payment. During this time, it is important to find a new job.

The agreement provides the client with the possibility of a calm search for a suitable position. At the same time, one should not be afraid for damage to credit history. Insurance of the loss of work will protect relatives and guarantors of the borrower from responsibility. And this cannot but rejoice.

Requirements

The risks of the occurrence of the insured event are large, and it is difficult to calculate. Therefore, several serious requirements are presented to the client, namely:

age - 18-65 years;
Russian citizenship;
official employment;
work on unlimited labor agreement;
Total work experience - from 1 year, and in the last place - from 3-6 months.

Contributing to the insurance company should not be a soldier or a pensioner. These are the conditions.

Insurance cases

Work loss insurance - the service is necessary. But payments are not provided with every dismissal. Compensation is issued for several reasons:

restoration for the position of previous employee;
Loss of work due to disability (1, 2 groups).

Payment is not provided if:

a person quit his personal desire or by agreement of the parties;
After the test term, the employer did not extend the contract;
the agreement was signed after receiving a reduction notification;
the reduction occurred without notice;
a person is fired due to abuse of alcohol or drugs;
The client has lost their ability to work due to damage caused to himself;
There was a transfer to incomplete employment;
Other types of benefits are paid.

What is needed for payments?

Within 10 days after dismissal, the policy holder must register with the employment service. Two months are provided to notify the company and prepare documents, including:

passport, work book;
employment contract, banking agreement;
paper from the bank about the debt;
confirmation from the employment center regarding registration;
certificate 2-NDFL.

The insurance company reviews the application and checks whether the obligations meet the requirements. If the decision is positive, compensation will be paid, but not immediately. There is a period of 2 months when the employee is given earnings if there is an official notice of layoff.

Then the employee is given 2 salaries. Payments from the insurance company can be received over a period of 3 months to 1 year. All this time a person can be looking for a new job.

Price

Before you take out job loss insurance, you should check the offers of several organizations. Each company puts forward its own terms of cooperation. You can choose credit insurance against job loss. What affects the cost of the service? This is the person’s age, his experience and place of work. Some companies calculate as a percentage of the debt amount (0.8-10%), while others determine a fixed amount. Reviews indicate that you need to focus on your income.

Voluntary job loss insurance is not necessary for people who have certain funds necessary to pay a loan, as well as to meet personal needs. Moreover, there should be enough money for about six months or more. There is no need to take out a policy even if there are people who can provide financial support. In other cases, insurance will allow you to preserve the collateral, not violate the loan agreement, and not spoil your credit history.

What do companies offer?

Now many banks offer insurance in connection with involuntary job loss. But the contribution amounts differ for all companies. As an example, we can take the indicators of well-known companies:

Renaissance offers to pay 1% of the loan amount per month. The rate may vary depending on the terms of the agreement.
VTB also offers such services. Job loss insurance is issued upon payment of 3.8% of the loan amount. Payments must be made every month. The size of the premium may vary for each client.
Ingosstrakh Bank charges 1% for insurance.
The size of the contribution to Sberbank is determined individually.

Each bank or insurance company takes into account the risks, so the amounts may vary. You can only find out the exact data from a specialist from the organization.

What loans can I get insurance for?

This service is available for any type of lending - mortgage, consumer loan, car loan and credit card. The easiest way is to contact the bank employee with whom the transaction will be concluded. But you can independently find an insurance company where the conditions will be more acceptable.

Insurer's rights

Registration of a policy gives the client certain rights:

If a bank, upon loss of a job, does not want to pay a person financial compensation, which is due under insurance, then the citizen can file a complaint with the regulatory organizations - Rospotrebnadzor or the prosecutor's office.
For failure to fulfill obligations, the company can be brought to administrative or criminal liability.
If, after contacting regulatory institutions, the bank still ignores fulfillment of obligations, then the client can go to court.

But when taking out insurance against involuntary job loss, the bank acquires the rights to:

May include in the agreement cases where payments in the event of loss of employment are not made.
Establishes the waiting period for clients to receive financial compensation when paying off a loan.
The maximum payment period is 12 months. This period should be enough to find a job and pay off the loan on your own.

Therefore, if a job loss occurred more than 1 year ago, then after 12 months, even if insurance is taken out, the bank stops paying financial assistance when paying off the loan. An exception is the loss of a person’s ability to work. Only then should the document indicate the conditions for payment of compensation after the expiration of 12 months. If a person becomes disabled while looking for a job, then even after a year has passed, the bank is obliged to pay financial assistance.

Where to go?

Insurance services are offered in the following banks:

"Renaissance Credit".
"VTB 24".
"Ingosstrakh"
"Sberbank".

Each organization offers its own job loss insurance program. Clients are subject to restrictions, lists of insured events and payment terms. You can find out the details of using the service on the website or when contacting the company.

Job loss is explained by a number of important factors - loss of trust from the employer, tense relationships with colleagues or banal layoffs. Involuntary job loss leads to the fact that there is simply no way to make loan payments. The job loss insurance program is an excellent opportunity to insure all possible financial risks and unforeseen events, and to be able to fully fulfill your obligations in the future.

What is the attractiveness of this type of insurance?

Job loss insurance in Moscow has several advantages:

all payments on loans from banks are made by a financial and commercial institution - an important condition of the insurance contract;
the credit history will not be bad due to possible delays;
you can easily assign responsibility for payment due to deterioration in financial situation to the policyholder;
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 choose is reliable, fulfills all its obligations, and in the event of an insured event, can fully cope with payments.

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 is the best measure to prevent 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 if you find yourself in a 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.

Consumer loan. Since it is issued for a short period, the borrower’s financial situation is unlikely to change. Therefore, banks do not always act honestly when issuing a consumer loan and requiring compulsory insurance against job loss.
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.
Credit card. If you use a credit card and pay off debts within the grace period, that is, almost immediately after spending, using this type of insurance is not advisable.
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 accessible option for concluding an agreement is to directly contact an employee of the bank where you are applying for a loan and express 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. Indeed, in the 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:

Citizenship of the Russian Federation.
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.
The length of service worked at the last workplace is at least 3 months.
Total work experience – from 1 year.
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 some financial institutions have additional 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 choose the 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 are talking about a fixed amount, 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.

Redundancy insurance is the best way to prevent 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 conclude 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 offers from insurers in this area.

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 the services in the form of a commission, and the insurance amount is 1% per month, or 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.