What to do if an insured event occurs
Contact the insurance company as soon as possible and describe the situation. The employees will tell you what documents need to be prepared and submitted within what time frame to receive payment. Usually, this is a large list, which necessarily includes:
Statement of occurrence of an insured event (in accordance with the insurance company form).
Copies of documents that verify the identity of the borrower or his representatives. Representatives will also need documents confirming kinship or right of inheritance.
Documents confirming the event that occurred. For example, if the hungary mobile database borrower was laid off, a dismissal order will be required. In the case of injury and hospitalization, copies of medical certificates and extracts from the medical history must be prepared.
The terms of notification of the insurance company are specified in the contract. If you violate them, you will most likely be denied payment. When the insurance company reviews your case, you will be sent a notification. The funds to repay the loan will be sent directly to the bank or first to the borrower, who will be obliged to repay the debt independently.
When is it worth insuring a loan?
To clearly demonstrate the differences between a loan with and without protection, we will present the data in the form of a table. It does not take into account situations when insurance is mandatory (for collateral and car loans).
If you borrow a small amount from the bank (up to 300,000 ₽) for a short period (up to 3 years), you can do without insurance. For large loans for a long period, it is more profitable for the borrower to ensure the protection of his finances and reputation.
Sometimes insurance is recommended for borrowers with a bad credit history. If banks refuse consumer loans, they may lack guarantees. In this case, a small loan with protection that you repay on time will improve your credit history and qualify for better terms in the future.
Benefits of insurance
Insurance protection is needed not only to fulfill obligations to the bank. For example, job loss insurance will allow you to calmly look for a new one without worrying about finances.
termination of an employment contract at the initiative of the employer in the event of liquidation and staff reduction.
For travel, it is worth consideringtravel medical insurance— it includes cases that are not covered by other programs. The program is suitable for pregnant women traveling abroad, ski resort lovers and ordinary tourists. You can insure against accidents, lost luggage, trip cancellation, etc.