That provides an insurance against job loss? Insurance against job loss in the mortgage

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2018-08-02 22:00:26

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Sometimes a person takes out a loan, and after a while loses the ability to pay it. In most cases, this happens for the reason that he tested the financial difficulties caused by job loss. The problems begin, all the plans that have been built, just collapse. Insurance against loss of work – it's a great way to insure against unforeseen circumstances.

insurance against loss of work

Insurance if they lose their jobs – what is it?

This type of service is that if a person lost his job, the insurance company will be obliged to pay him the amount that on average he has to pay for the loan. Very convenient, there is not even argue. Insurance against loss of work will protect the person. Depending on which program is chosen, payments will be received in full within 6 or 12 months. During this time, you can find yourself a new job.

Insurance claims

Before you look for a company that provides a service, such as insurance against job loss, reviews study very carefully about each individual organization. You need to be sure that you are in good hands.

It is Important to note the fact that if people decided to leave their place of work, this case insurance is not. Each organization offers its own list of conditions for receiving payments, but there is a standard list, which is shared by all.

insurance against job loss testimonials

The List of insurance cases:

  • Insurance for job loss will help in the case if the organization where the person was employed, were eliminated for various reasons.
  • The State employees subject to reduction.
  • Changed the owner of the company, which introduced its own rules.
  • The Contract was terminated for reasons, which isn't the fault of one party, for example, disability or military service.

In what cases payment will not be made

Insurance job loss does not imply payments in the following situations:

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  • Dismissal due to violation of labor discipline an employee.
  • The Dismissal without explanation (on their own).
  • Loss of efficiency by employee, for example, the injury and failure to follow safety precautions in the state of alcoholic intoxication.

What kinds of credit allow you to receive insurance

Insurance for job loss if the loan is a very common service nowadays. No matter what type of loan a person has to get insurance he may, in either case, whether it be consumer credit or mortgage.

insurance in case of job loss

The easiest way in the paperwork for the loan to explain to the Bank employees that you want to draw this kind of insurance. This will be beneficial not only to you but to the financial institution. Most often they already have signed contracts with several insurance companies, so employees will not only advise, but also help to issue.

The Benefits of the insurance contract

Conclusion of a contract of this type will always be relevant and useful. No one can be fully confident in the future. Problems can occur when you expect them the least. The company closes spontaneously, or appear other problems. In that case, if you took out insurance in case of job loss, all this can be overcome with minimal damage.

The benefits of design contract:

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

Mandatory requirements

If a person has decided to conclude the insurance contract in case if they lose a job, it must meet the following criteria:

  • To Have an internal passport to reach the age of majority.
  • Experience with the last job must be at least three months.
  • The Total length must be at least a year.
  • The Employee must be formally employed and have a contract of employment.

Insurance against job loss in the mortgage

Mortgage & ndash; one of the most common cases of obtaining insurance payments. Criteria may vary among organizations, but the essence remains the same. In that case, if you lose your job is not their fault and temporarily are not able to pay the mortgage that the insurance company with which you signed the contract. Of course, you will need to submit the documents list which is quite extensive, but you will be completely sure that he protected himself.

insurance against loss of work when the mortgage

Documents required for payment:

  • A copy of the internal passport.
  • A copy of his employment record book, confirming experience.
  • The Duplicate terminated the contract in order to confirm that the employee is not guilty of deprivation of capacity to pay.
  • Certificate from the Bank stating that you have mortgagedebt.

Do I Need to insure yourself in case of loss of solvency

Opinions differ, when it comes to discussion of such services as insurance against job loss. Reviews you can find both positive and negative. Some seek to avoid a contract for the reason that in the event of difficulties, they can seek help from friends or relatives. However, such an act is inappropriate.

Mostly dissatisfied with the Treaty are only those customers who lost a place of their own fault and are unable to obtain insurance money. Do not forget that this agreement is in such cases when the organization is closed or dramatically start to dismiss employees in connection with staff reductions. You can be sure that your mortgage or any other loan will be paid on time during that period, while you will find yourself a new job.

insurance against loss of work in case of a loan

Conclusion of a contract on insurance in case of loss of solvency on the loan is very profitable. Credit history will not be spoiled and you won't lose your mortgage or other property. Of course, all this is valid only when your case meets the insurance.

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