Job loss insurance is the only way to reduce the risk of losing your home. Do you calculate risks? What happens to your new home if you lose your job?
Everything flows, everything changes. Today, you have a great job with a good income, and you take a mortgage for housing. Diligently calculate what percentage of the salary will go monthly to pay it off.
Do you calculate risks? What happens to your new home if you lose your job? Job loss insurance is the only way to reduce the risk of losing your home.
Insurance for loss of solvency
Job loss insurance is a service provided by insurance companies. Citizens who have taken out a loan use this service and then forcibly, otherwise they will not give credit.
If the client loses his solvency as a result of one of the situations that are considered insured events, the insurer pays him the amount required for the monthly repayment of the loan.
This continues, depending on the chosen program, from six months to a year. What is very convenient and serves as a guarantor of security and tranquility – for in such a period you can find a new worthy place of work.
How to choose an insurer
If you want to take out such insurance, carefully read the information about various insurance companies in the network. It is important to trust those who are reliable and will not let you down.
Reviews of other clients on the Internet often speak more than the website of the organization itself. Remember that in the case of dismissal at will, you will not be able to receive payments to any insurance company.
When payment is due
Each company has its own list of insurance claims, but there is a basic list that is effective for all.
- The company where you work is liquidated for any reason;
- There is a downsizing;
- A new owner appears, playing by his own rules;
- You lose your ability to work as a result of an accident;
- You are being drafted into the army.
Do not count on payments if:
- You are fired for your fault (violation of the schedule, discipline);
- You quit yourself, of your own free will;
- You lose your ability to work on your own fault, as a result of violation of safety regulations, alcohol use and so on.
Where to get insurance
The good news is that job loss insurance covers any type of loan. Consumer loan from you or a mortgage, you can even when you draw up documents in the bank to inform about their desire to insure.
Bankers will help you, because they often have agreements with relevant companies and there are several insurance programs to choose from. Through the bank, the procedure of registration of insurance will be faster, there will be less paperwork, you will not have to wander instances with various references.
However, in this case, you must trust the bank and the organizations that cooperate with it. If there is no trust, it is better to find the insurance company yourself, sign up for a consultation, weighed make a decision.
So, job loss insurance, where to insure:
- Directly at the bank where the loan is taken;
- In the insurance organization of your choice.
Conclusion of the contract – the guarantor of security Wherever you make out insurance, you must necessarily enter into a contract. These few pieces of paper are your guarantee of service reliability, confidence in the future. In today’s world, everything changes very quickly, and an unexpected reduction in staff can knock you off your feet.
Insurance against losing your job will help you rise with the least loss, namely:
- The insurance company will continue to pay the loan for you, and you will not turn into a malicious defaulter;
- You will find a new place without haste;
- In the case of a mortgage on the housing your house no one will take.
Insurance against job loss, conditions of registration
A contract can be issued by any adult citizen, provided that he has a passport, length of service at the last place of work of 3 months and a total work experience of one year or more.
The experience includes only those places where you are arranged officially, with confirmation in the form of an employment contract.
Take any work documents seriously – it is likely that one day they will save you from losing housing and livelihoods.
Peculiarities of mortgage insurance
Most often, insurance payments go on mortgage loans. When the owner of such a loan loses his job as a result of an insured event, he has nothing to worry about – the company takes care of everything. In the situation with a mortgage on housing, the saddest thing is not a damaged credit history, but a loss of a new home. And this is a much more serious case.
To protect yourself or to risk?
How many people, so many opinions. There are supporters and opponents of such a procedure as insurance against loss of work.
Opponents refer to the fact that in difficult times they can always be helped by close people, friends and family. But is it worth spoiling relations with relatives by blood and spirit, adding financial to personal relations?
In addition, in business contacts we have specific guarantees, confirmed on paper.
There are dissatisfied customers who have taken out insurance. The main reason for dissatisfaction is dismissal on your own will or your fault and, as a result, lack of payment. It is necessary to remember about insurance claims, not to deviate from them, then everything will be fine.
Insurance against losing your job, its value is not as great as your security in the future.
The insurance company will pay, will do it on time and regularly. And in the meantime, you can go on a hundred interviews and get your dream job.
Be careful when choosing an insurance company and program, follow the rules specified in it.