Voluntary accident insurance: types, procedure, payment terms

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Compulsory and voluntary accident insurance allows you to provide material support to the person for whom the policy is issued, as well as to his family and relatives in unforeseen circumstances. This may come in handy in some cases.

In accordance with the law, any capable citizen can conclude an insurance contract against illness or accident both in relation to himself and his relatives. Also, such a procedure can be carried out by legal entities, for example, by issuing policies for athletes, students or employees of their companies.

Voluntary accident insurance will be discussed in more detail below.

What is this?

Accident insurance refers to the voluntary execution of a policy that helps to receive compensationexpenses if an unforeseen situation occurs.

Of course, life is full of surprises and surprises. No one knows what tomorrow will bring him. Danger can await a person at every step. It is for this reason that it is desirable for everyone to purchase a policy against illness, accident and various kinds of incidents. However, who is insured within such a product? Is it possible to purchase a policy for a newborn?

Each company has its own principles of voluntary accident and illness insurance. Companies in practice offer protection to citizens from one year to seventy years. At the same time, insurers are always open to wishes, meet halfway, agree on individual conditions for regular customers.

If in the West this practice is the norm, then in Russia this product is usually not purchased at will. For what reason do citizens not want to become owners of such a profitable service? The fact is that many often do not know what risks it provides protection against.

Accidents

Accidents include:

• natural disasters;
• fractures and bruises;
• heatstroke;
• frostbite;
• severe burn;
• poisoning with medicines or household chemicals;
• Accident resulting in injury.

Regarding serious chronic diseases such as stroke, it must be said that this is no longer included in the category of accidents.

People who find themselves in an unpleasant situation often have torecover over time to return to their usual way of life. The recovery process may require financial resources for medicines and treatment. It is at this point that insurance protection will help against an accident. It is very comfortable. Let us consider in detail what types of insurance insurers offer to their clients.

Types of insurance

In practice, there are three main types of insurance. Before visiting the company's office, you need to carefully read them and choose the type that is right for this particular case.

Voluntary accident insurance. The client has complete freedom of choice, as he voluntarily applies to the company for a product

A person with voluntary insurance chooses such parameters as the totality of risks, the amount of coverage and the period of insurance.

The advantage of such a service is based on the fact that the work with the client takes place on an individual basis, all conditions are negotiated. Protection can be purchased for one person, and for all family members. At the same time, it is not necessary to purchase insurance for everyone, since you can sign one contract in which all persons are indicated.

Group. In most cases, group insurance is for employees of the organization. Now this practice is gaining popularity. In this case, its manager acts as the insured, who takes care of hisemployees

In addition, group agreements are bought by tourist groups who want to protect themselves during the holiday period. Also, do not forget about athletes who can participate in competitions only if they have a policy. In practice, the insured is a coach who draws up a list of wards who need to draw up such documents. Naturally, schoolchildren are also insured under a group agreement. In most cases, a policy is issued for each student.

• Required. It may seem that no one has the right to force a citizen to insure against an accident without fail. In fact, there are a number of professions in which the existence of such an agreement becomes a prerequisite for the fulfillment of labor obligations. As a rule, these are employees of the Ministry of Emergency Situations or law enforcement agencies, military personnel, etc. It turns out that those persons whose work is associated with high risks are required to purchase insurance coverage.

You will need to purchase a policy when buying a ticket or during a holiday in the Schengen countries. Travel companies in practice are intermediaries, issuing insurance for their customers when selling tickets.

Voluntary accident insurance at work

Regarding compulsory insurance, it must be said that the Federal Law precisely stipulates those professions that must fulfill such a requirement. This is an important point.

Currently there are 32 professions, representativeswho are required to acquire voluntary accident protection. But, to be more precise, insurance is bought not by employees, but by an authorized employee of the respective fund.

Such a requirement is spelled out at the legislative level, it is enshrined in Federal Law 152. But voluntary insurance against industrial accidents is also carried out.

An unforeseen event is possible in the performance of work duties, and as a result, an employee may be injured, losing the ability to perform the work assigned to him.

If an insured event occurs at work, the duty of the manager is to immediately record the event in a special act. This document confirms that the he alth of the employee was harmed precisely during the performance of his labor duties.

The operation of such companies is controlled by the FSS, that is, the Social Insurance Fund.

Fares

The amount for insurance (the company's liability limit or the maximum stipulated payment under the agreement) is the subject of the contract between the client and the company. It can vary significantly. With voluntary accident insurance for employees, the client can determine the amount of the amount itself, sufficient for him, and at the same time affordable. The company sets the tariff and draws up a specific percentage of the sum insured. The more risks are included in the policy, the higher the tariff will be in the end. This must be taken into account. They range from 0.12 (if only lethal risk is included) to 10% (when an extensive list of risks is included,including those associated with diseases). Factors that determine the cost of a voluntary accident insurance policy:

• Lifestyle (persons involved in injury-prone sports receive a higher tariff rate).
• Profession of the client (the more dangerous his activity, the greater the sum insured and the tariff).
• The age category of the insured person (higher rates will be for the elderly and children).
• Gender (the cost of insurance for men after the age of forty increases markedly).
• He alth condition (rates for those suffering from serious pathologies increase).
• Insurance history (customers who have already proven themselves are given discounts from the insurance company).
• The number of people in the policy (rates are reduced for corporate, family programs).
• Insurance period (the client may be given a discount on the premium for each subsequent year of the contract);
• The number of risks (the more of them, the higher the cost of the policy).
• Principles of the firm.

Insurance premiums can be paid as a lump sum or in installments (every year, every quarter and every month). When drawing up a contract, you need to discuss all the details with a representative of the company in advance, carefully read the rules.

Terms and conditions of insurance

To issue a voluntary accident and illness insurance policy, the client will only be required to provide a documentwhich certifies his identity, as well as an oral or written statement. However, if you want to conclude an agreement for an amount equal to several million rubles, or if you are in a high-risk category, the company may require additional paperwork. The client must be notified of any restrictions that are imposed by the insurer. This is an important nuance. Restrictions are imposed on the amount, the state of he alth of customers (companies usually do not provide services to citizens suffering from serious illnesses and those with I and II disability groups); age of the client (most often 18-65 years old).

The period of voluntary medical insurance against accidents can be different: for the duration of employment, during the transfer to and from work, around the clock, for a specially agreed period of time (for example, while playing sports in the section). The contract as a whole can be concluded for a period of one day (for example, a person's stay on the road) to several years.

Applicants with individual voluntary insurance most often make a policy for one year, in more rare cases - for a longer period.

In Russia, voluntary life-long accident insurance is still a rarity. The time from which the policy begins to operate is determined in the agreement. Insurance most often works from the day that follows the day the premium is paid. For accidents, the contribution ranges from 0.12-10%, depending on the list of risks.

The policy can be issued with extensive 24/7 coverage, which provides insurance worldwide, if you include a full list of risks in the document, including sports activities. This implies protection everywhere and always: at home and on a trip, in the country and in the car, on vacation and at work. If an accident caused several insured events, for example, after an injury - hospitalization or surgery - payments are made in full. This practice is a conscious choice of a client who wants to protect himself and his family.

Another type of voluntary accident insurance is registration “from and to”, for example, only for the duration of a trip, training, events, etc. These policies are mainly issued at the request of a sports section or other organization that wants to minimize their liability. They include a small list of risks that provide limited protection under the policy and have a low cost. An event that occurs outside the period and territory specified in the contract of voluntary accident insurance is not subject to compensation.

Term of the contract and commencement of the policy

The insurance contract comes into force the next day after the client has paid the entire amount of the premium. Installment protection "turns on" only after the first payment is received by the company. If the money has not arrived within the time specified in the agreement, the policy will be invalid.

Where to go to apply for voluntary life insurancefrom accidents?

Where can I apply?

In order to make the right choice, you need to consider various companies that offer quality products and have proven their reliability over the years.

The top 3 voluntary accident and illness insurance companies are:

• VTB Insurance. This is a large organization that was founded in 2000. It currently offers an extensive list of insurance services. The company's partners are such well-known organizations as UniCredit Bank, VTB Bank, Loko-Bank, Mortgage Lending Agency, etc.
• SOGAZ. It is the leader of the insurance market offering policies to the population since 1993. Now the company provides customers with more than a hundred profitable programs, including accident insurance. The following major institutions entrust their protection to the firm: Gazprom Group, Rosatom, Russian Railways, etc.
• "Alpha Insurance". This is a universal type company with a large package of services. The insurer offers customers to purchase protection both in the office and in partner stores. The services of this company are used by such large companies as Aeroflot, Coca Cola, Information Satellite Systems, Domodedovo Airport, etc.

What else does voluntary medical accident insurance include?

Procedure and terms of payments

Payments are determined by the amount of the contract and the insured event. As a rule, damage is established according to a special table. It clearly states what percentagepaid from the sum insured. This table should be given to each insured in the process of drawing up the contract. In relation to an occupational disease, there is a special compensation payment system, which is negotiated individually when drawing up an agreement and is also written in it.

You can get compensation:

• When disabled for a while. One of the most common options. In this case, the insurance company will strictly take into account disabled days, making a percentage payment for each. But some firms set time limits, during this period compensation will be made when the risk occurs. The term is usually no more than one hundred days.
• When disabled. The amount of the payment is determined directly from the disability group received by the client. For I, as a rule, they pay 100% of the amount, 75% for II, 50% for III.
• When a client dies. Compensation payment is made to the beneficiary under the agreement, 100% of the sum insured.

Payment under accident insurance contracts is made within the terms specified in the agreement. Such a period in practice is not more than thirty days from the date of the decision to make payments. As an exception, there are situations that are associated with the initiation of criminal proceedings in court and the appearance of doubts in the documentation.

Early termination of the contract

The contract of voluntary insurance of citizens against accidents ceases to operate,when the company has fully fulfilled its obligations, or at the end of the period of cooperation. At the legislative level, early termination of the agreement is allowed if:

• the client himself, for reasons known to him, decided to refuse protection;
• policy is declared invalid in court;
• no insured event (for example, when dismissed from a dangerous job);
• when the company itself is liquidated;
• the paid period has ended, and the person decided not to pay the next installment or paid the money in full.

This happens quite often.

We reviewed the rules of voluntary accident insurance.