In recent years, children's insurance programs have become very popular in the Russian Federation. Thanks to such policies, parents can protect their children from any accidents, save money for their education, etc.
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Child insurance is an absolutely “transparent” procedure, which is carried out in accordance with Russian Federal legislation.
What it is
Children's insurance is a special type of economic relationship between the insurer and the policyholder. During this procedure, a corresponding agreement is signed between the child’s parents and the insurance company.
The insurer assumes obligations, depending on the type of insurance chosen, to accrue interest on the insurance premiums of policyholders.
Payments will be made only after the occurrence of an insured event, or upon expiration of the contract.
Most public and private insurance companies allow Russian citizens to take out insurance policies for children from infancy until adulthood.
Causes
Each parent may have their own reasons for insuring their child's life.
Various factors can influence a mother’s or father’s decision to purchase an insurance policy for their baby:
- registering a child for a sports section;
- taking care of your child’s health;
- planning your baby's future, etc.
Each child who participates in insurance as an insured person gains a lot of advantages:
- the right to study at a prestigious university;
- the right to an independent, secure life and own housing;
- the right to explore foreign and exotic countries as a tourist;
- the right to receive quality medical care, etc.
What are the conditions?
Russian insurance companies set a number of conditions for clients that they should know about before participating in the insurance process:
- issuing the type of insurance policy will directly depend on the financial capabilities of the parents;
- the cost of the insurance policy may be affected by the duration of the contract;
- When concluding a contract, the insurer assesses the child’s health status (medical certificates will testify to this), etc.
If an insured event occurs, the child’s parents must contact the insurance company and provide a complete package of documentation, which will include:
- application of the established form;
- an insurance policy issued by this company;
- documents confirming the occurrence of an insured event (if the child was injured, then all medical certificates and expert opinions should be attached);
- if the insured person has passed away, then it is necessary to attach a death certificate issued by the registry office.
What types are there, their features
Currently in Russia there are a large number of types of children's insurance policies that fall into the category of savings or risk insurance.
Contracts are concluded between the parents (or family members) of the child and insurance companies.
The validity period of these documents can be either record-breakingly short or extremely long (from 1 day to 10 years).
Such insurance programs set different rates and impose special requirements on policyholders and insured persons.
The most popular types of insurance are:
- until adulthood;
- sports insurance;
- health insurance, etc.
Until adulthood
Insuring a child until he reaches adulthood has recently become popular among Russian citizens who think about “tomorrow.”
To issue such an insurance policy, you must fulfill the requirements of the insurer:
- the child's age must be between 6 months and 15 years;
- the age of the policyholder cannot be less than 18 years and no more than 60 years;
- Not only the child’s parents, but also close relatives and guardians can act as insurers;
- the contract may indicate the following insured events: injuries, poisoning, illnesses (resulting in serious consequences), death, survival until the end of the contract;
- With this type of insurance, the following are not recognized as an insured event: suicide, intentional self-injury by the insured person, etc.
The insurance contract “before the age of majority” can be terminated by mutual agreement of the parties, as well as in cases provided for by current legislation.
The minimum tariff rate is 100 rubles. The procedure for filing an application for insurance payments is carried out in the usual way, in accordance with the Federal legislation of the Russian Federation.
Endowment insurance for children
The principle of accumulative insurance is as follows: during the validity of the contract, an amount of money will accumulate on the account of the insurance company, which should go to the insured person upon expiration of the insurance contract.
This fund is formed from monthly contributions made by policyholders.
For many Russian citizens, endowment insurance is a passive source of income. Thanks to an insurance policy, they gain confidence in the future.
For many people, especially those with a modest financial situation, endowment insurance is the only opportunity to ensure the future of their child.
All accumulated funds can be spent:
- for a child’s education at a higher educational institution;
- for a wedding;
- to purchase a separate home for a grown child;
- for travel to foreign countries, etc.
An accumulative insurance policy will provide protection from the first year of a child’s life, until he reaches adulthood, both from illnesses and accidents.
Sports
Many sports sections register children only if they have an insurance policy. This is explained by the fact that when playing such sports, children often get injured and coaches, thus, try to relieve themselves of responsibility.
Today, a large number of insurers operating in the Russian Federation are actively involved in insuring young athletes.
To issue an insurance policy, you must fulfill a number of requirements of the insurer:
- the child’s age cannot exceed 18 years;
- the minimum age of the insured person cannot be less than 1 year;
- the child must engage in a certain sport constantly, at least once a week, etc.
To conclude an agreement with the selected insurer, the child’s parents will need to provide the following information:
- Full name and date of birth of the baby;
- address information (where the child lives);
- Parents' contact numbers and passport details.
The validity period of the insurance contract cannot exceed 1 year. After this time, the child’s parents can renew the contract with their insurer.
This document can be concluded for 1 day if the baby plans to take part in any competitions.
If necessary, parents can conclude an agreement for the summer period if their child will rest and train in a sports camp.
Price
Currently, there are a large number of insurers on the domestic market that offer various insurance programs intended only for children.
They differ from each other in many respects, in particular in the amount of payments that can be received upon the occurrence of an insured event.
Comparative table of children's insurance in different companies:
Every loving parent should take care not only of the health, but also of the safety of their baby. Not all mothers and fathers have the opportunity to constantly be with their child in order to protect him from all adversity and misfortune.
The only way to protect your child from all troubles is insurance, which provides for various risks that may await him along the path of life.
How to insure your baby?
The most important thing on earth is children, all parents know this, and they are, first of all, concerned about the well-being of their child, which is why it is provided by companies.
It follows that the risk of accident consequences will be reduced.
Insuring a baby against possible deterioration in health or injury is a voluntary decision of parents or other close relatives. The cost of such services is quite expensive than other types of insurance. This is due to the fact that children get sick much more often than adults.
To finalize the calculation of life insurance, the age of the child is first taken into account, that is, the younger his age, the greater the premium amount. At the same time, the insurance policy has two functionality:
- Providing timely assistance to the child if the same event occurs that was previously insured.
- Protects unprofessional care by medical professionals.
The policy is purchased based on the personal wishes of the parents. Insurance provides a guarantee of confidence that no negative events can negatively affect the baby. If an accident occurs or a child gets sick, there is always the possibility of receiving funds.
Insuring a baby is possible from birth until reaching adulthood.
Health insurance is assumed in its pure form, but there are exceptions - these are pathological congenital abnormalities, and also if the parents caused damage to the baby’s health, deliberately.
- Risk - insurance is a specific case, that is, monetary compensation is paid only due to the origin of this trouble.
- Cumulative - the contractual obligations indicate a complete list of all possible cases, and if the term of the contract has expired, then a certain amount is issued.
About collective child insurance programs
Collective insurance programs cover a list of degrees of different risks. These are:
- Drawing up a contract for children against possible unforeseen cases. Children quite often get injured on the roads, including in forests, parks, when going to rivers or ponds, and they are also most often bitten by snakes, animals or insects.
- For children involved in... If a child is being prepared to participate in a tournament, then it is mandatory to take out an insurance policy so that in the event of an injury, financial assistance will be provided to him.
- For vacationers in camps. The child is under the supervision of caregivers, and the latter have many children, which does not allow more careful monitoring of the baby, and this leads to various injuries. In this regard, by decision of the parents, an insurance contract is drawn up.
In particular, information about each type of insurance is provided below.
How much is insurance?
To take out insurance, that is, to correctly calculate the amount, you must take into account the following factors:
- type of insurance;
- which insurance company is chosen;
- what is the baby’s age;
- what is your health status?
- allocated amount of insurance premiums;
- what medical institutions the child visits;
- place of residence;
- for how long the insurance is issued;
- gender of the child;
- other nuances affecting insurance.
Insurance can be 90 thousand or more; to do this, just contact a company that has the right to insure life and health.
What documents should be prepared
In order to obtain insurance, you must provide:
- Identity document of the parent or legal representative of the child.
- Certificate confirming the birth of the baby.
Also, some companies request other information necessary for the correct completion of the insurance contract.
How to insure a child under one year of age
Everyone knows that in the first year of life a baby is most vulnerable to the environment, so he is exposed to a large number of negative factors. This takes into account:
- Specifics of baby care.
- Medical care of a visiting nurse.
- Vaccinations.
- Scheduled inspections.
To prepare a list of required documents, you should contact the company. However, it is worth noting that the mandatory documents are the parent’s identity card and the child’s birth certificate.
Prices for insurance of children under 1 year of age differ from prices for insurance of children at an older age. The price can also be influenced by the company itself, and the down payment can be approximately 0.12 or 12%.
Personal injury insurance
Voluntary baby insurance
Children are very active and cannot sit still for a long time, as they have excess energy. It is for these reasons that unwanted events often happen to them. And health insurance gives you confidence in being prepared for possible incidents.
In part, accidents that happen to children are paid for by the state if there is a medical certificate, that is, a policy. But there are few such cases listed in the list, and anything can happen to a small person, for example, carbon monoxide poisoning, an animal or insect bite, in other words, this is an injury received as a result of unforeseen events.
Voluntary baby insurance involves expanding the range of accidents compared to mandatory insurance. This way you can be one hundred percent sure that financial assistance from the insurance company will be provided.
If your baby plays sports
Kids who play professional sports develop movement skills and maintain their health. Of course, the risk of injury in this case increases, namely, the child can receive dislocations, bruises and sprains of any severity. For this purpose, insurance for the baby is provided for the sports part.
Many sports clubs require parents to have such insurance for their child. This type of insurance is provided for the age category up to 2-18 years of age.
To enter into an agreement with an insurance company, you must submit the following documents:
- parent's passport;
- baby's birth certificate.
Other documents may also be required, depending on the choice of the company.
Income tax refund
The legislation of the Russian Federation provides that a refund of income tax on the amount paid must be returned. In this case, the following conditions must be met:
- An agreement with an insurance company must be concluded for at least five years.
- If insurance premiums were paid in cash.
- The applicant is a resident and is subject to 13% income tax.
What cases are covered by insurance?
The basic conditions of contractual obligations are the following types of accidents:
- occurrence of natural disasters;
- lightning strike;
- possible burns;
- insect and animal bites;
- action of criminals;
- food poisoning;
- disability resulting from an accident;
- cuts, fractures and other injuries;
- death.
The list of these cases can be supplemented by decision of the management of the insurance company.
About the price of the policy and the amount of compensation
The amount of compensation calculated by the insurance company directly depends on the severity of the injury or deterioration of the child’s health. As a rule, insurance contracts stipulate the treatment and its duration based on minimum parameters. There are companies that record the number of occurrences of emergency situations during the insurance period. If insurance is issued for, then, accordingly, all possible cases must be described very clearly so that there are no questions about payments.
Insurance compensation is subject to the occurrence of an insured event: snake bites, wounds, bruises, dislocations or fractures, that is, everything must be described in full detail.
Amount of compensation for the material component
In each case, the amount of compensation for the material component must correspond to the established percentage of payment. Moreover, the company will pay contributions for each day you are in the clinic. The amount of the full payment of the sum insured is calculated in the event of death.
Compensation payments can be issued in full or in parts, it all depends on what is specified in the agreement of both parties. Also, if the damage to health is not so significant, for example, it was a small cut on the skin of a finger or a runny nose, then payments are not made at all.
The cost of the contract generally depends on:
- Validity period of the insurance contract.
- The severity of the injury received.
- The selected insurance company.
Before insuring the risk of a child’s health and life, it is worth checking all the constituent documents of the insurance company so as not to get into trouble.
Making payments on behalf of companies
Payments depend on concluded agreements with insurers. If an insured event occurs, you must notify the company about the incident in any way that is most accessible.
To receive compensation you must present:
- A certificate from a medical organization indicating harm to the child’s health.
- An extract from the medical record.
- Certificate of assignment.
- Death certificate.
But at the same time, it is worth figuring out which document to submit. You must also present your passport and birth certificate of the baby.
Video about why parents in Russia agree that they need to save for their child’s education, but in practice they almost never do this:
May 25, 2018 Help manual
You can ask any question below
Children are very active at any age. Parents are not able to control their child’s movements around the clock, so under certain circumstances the child may be susceptible to injury. In order to protect your baby as much as possible, in some cases it is advisable to resort to the insurance procedure.
Why insure your child against accidents?
Insuring children against accidents is primarily necessary for the child. Having a policy allows you to partially or fully compensate for the costs of restoring your baby’s health in the event of an insured event.
Compensation payments can be used to pay off the costs of medical treatment or for the psycho-emotional recovery of a child after an accident. The person acting as the recipient of this payment does not have to report to the insurer.
Children who are under the age of majority (18 years old) at the time of signing the contract can participate in insurance programs.
However, special cases can be considered on an individual basis.
The list of situations in which the policyholder may be provided with payments depends on the program under which cooperation between the parties is carried out. The basic insurance package can cover the following risks:
- acute diseases;
- burns resulting from a lightning strike, explosion or any other natural disaster;
- animal attack;
- attack by intruders;
- poor quality food poisoning;
- injuries, fractures, bruises, sprains.
Accidental disability and death caused by personal injury, drowning or anaphylactic shock are also covered.
If necessary, the list of insurance risks can be expanded. This point is discussed between the parties at the initial stage of cooperation.
What payments are due?
Payments can be one-time or transferred in parts several times. The mechanism for receiving funds upon the occurrence of an insured event may vary depending on which policy was chosen by the policyholder - a 24-hour or temporary insurance policy. In the first case, the program guarantees the accrual of payments if a child is injured at any time of the day.
A term insurance policy has some time restrictions. To receive payments in this case, a strict time regime is established. An example of such insurance could be the protection of children while playing in a sports section, walking down the street, or additional activities associated with increased risk.
The insurance procedure is carried out in several stages. To resolve this issue, it is necessary to collect a package of required documents and deliver them to the company that will provide the relevant services. Insurance is issued in the following sequence:
- choice of insurance company;
- exploring various options for providing insurance services;
- choosing a suitable program;
- preparation of documentation;
- conclusion of an agreement;
- payment for services.
Where to apply?
Direct signing of the contract between the insurer and the policyholder is carried out at the office of the selected company that provides the relevant services. Parents can take out insurance for their child attending school, camp or sports clubs.
For school
For schoolchildren, insurance companies have developed a huge number of programs that apply to students in grades 1-11. This insurance is valid throughout the entire academic year and covers 9 months (from September to May). If it is necessary to insure the summer months, the package of services is paid separately.
For camp
Insurance during the summer holidays is most justified, because it is in the camp that the child is exposed to a large number of potential dangers. In this case, the baby is insured against animal and insect bites, road accidents and various unforeseen situations on the water. It is precisely these lending programs that affect all summer months.
For Sport
Children who engage in active sports activities are most susceptible to various injuries. Insurance programs allow you to compensate for the costs of restoring a child’s health in the event of an insured event.
The package of necessary documents should be checked with the company that will provide the relevant services. The basic list of papers includes the passport of one of the parents, the child’s birth certificate, and a document confirming the place of registration.
Price
The pricing policy of a particular company is formed depending on various circumstances. The cost of insurance services depends on the number of insurance cases that the selected program can cover, the duration of insurance, as well as on many other factors.
Below are offers from various companies that are ready to provide insurance services for your child.
- Rosgosstrakh. The company offers a wide range of insurance products, the cost of which varies between 200-500 rubles per month. The price of the package is directly proportional to the number of services - the more there are, the higher the cost. For comprehensive services you will have to pay about 7,000 rubles per year.
- Sogaz. The annual cost of services of this company ranges from 110-5500 rubles. If the policyholder pays for a package worth 110 rubles, then he can receive up to 10,000 rubles. When purchasing an expensive package, the payment amount may increase to 500,000 rubles.
- RESO Guarantee. The minimum cost of an insurance package in this company is 100 rubles. In the event of an insured event, the policyholder will be paid an amount of 20,000 rubles. The maximum amount of payments that the company is ready to provide to its clients is 100,000 rubles.
- VSK Insurance. Another insurance company capable of providing relevant services at a high level. The company offers its clients a policy costing 845 rubles per year. Such a program includes all possible risks.
In most cases, the cost of services indicated within a particular package is not final. If you carefully study all the conditions put forward, you can try to reduce the initial price.
To reduce the cost of the policy, you can resort to taking out group insurance. To do this, you can have a preventive conversation with other parents, and if they agree to insure the child against an accident, you can receive a discount on the provision of services.
Carefully reading the contract and then eliminating unnecessary services from the list also helps reduce the cost of insurance.
In the event of an insured event, the policy owner must perform a certain series of actions in accordance with the established algorithm:
- To write an application.
- Prepare the required package of documents.
- Contact the nearest branch of the insurance company.
In the submitted application, the policyholder must indicate as detailed information as possible about the contract that was concluded between the parties. The company acting as the insured party must be notified no later than three days after the occurrence of the insured event.
If the insurer does not have any questions, funds are transferred to a special bank account. To open such an account, it is enough to write a corresponding application. To subsequently receive payments, a personal bank premises is not required.
To receive cash payments, it is enough to provide the insurance company with a minimum package of documents, which includes an agreement with the insurer, an insurance policy and any document confirming the occurrence of an insured event. Such documents include:
- medical report on assignment of disability;
- certificate of injury;
- extracts from medical records;
- death certificate.
Some companies may request additional documents confirming the occurrence of an accident.
If the insurance company, when studying the documents, does not have any questions for the insured person, then the company makes partial or full payments (depending on the severity of the injury). Maximum compensation is provided in the event of death or disability.
When a child is born, the life of a family changes completely. Now parents are responsible not so much for themselves, but for the new life they brought into this world. In the process of growing up, a little person very often faces many dangers and unforeseen situations. That is why the question is increasingly being raised in society that it is necessary to introduce children from accidents. Of course, it will not protect you from dangerous and critical situations, but the policy is quite capable of helping parents cope with the consequences.
However, compulsory insurance also has many opponents - according to some experts, this infringes on some civil rights of a person, because everyone has the right to decide for themselves whether they need insurance or not. For children, of course, until they reach adulthood, this decision must be made by parents.
Who needs an insurance policy
Today, visiting children of school and preschool age is a voluntary matter.
An accident is an unforeseen, unpredictable circumstance that does not depend on the wishes of the insured, resulting in permanent or temporary impairment of health. From the above, it is clear that although no one wants this very event to happen, everyone must protect themselves from its consequences. This is precisely the essence of an insurance policy - if, God forbid, something happens to your child, the insurance company will share responsibility, at least financially, with you.
Child insurance may be paid due to:
- traumatic injury - bruises, fractures, sprains and dislocations, damage to internal organs;
- temporary unexpected health disorder - poisoning, burns and other similar diseases;
- onset of disability of any degree;
- lethal outcome (death) of a minor child.
An insurance contract can be concluded in relation to a child aged from one year to 17 years.
Subtleties of a child insurance contract
You can purchase a policy immediately after the birth of a child; the contract can be concluded for one year or for several years. It usually provides for the payment of compensation in the event that a child has suffered as a result of an unforeseen situation and needs medical assistance. The insurance does not cover ordinary ailments such as acute respiratory viral infections, except in cases where the illness arose as a result of an accident. For example, if a child accidentally gets poisoned and develops an ulcer as a result, the insurance company will pay for the treatment of this disease.
Insurance against accidents for children in sports also has some features. Here you need to be very careful, especially for those parents whose children are involved in traumatic sports - karate, football, boxing, gymnastics, and so on. The fact is that it matters what conditions are specified in the contract. One option may be insurance for the period of participation in competitions - such insurance is cheaper, but it will not cover the cost of treating an injury received during regular training.
Policies. What are they like?
Now let's talk about what exactly accident insurance for children can be. All policies can be divided into groups depending on the period of validity, the age of the child, and, of course, the list of insured events.
Any insurance institution will offer you at least two programs:
- 24-hour policy;
- temporary insurance.
As the name implies, in the first case, the policy will cover the cost of treating an injury sustained by a child at any time of the day. A temporary policy protects your child, for example, in the following cases:
- in the evening, during walks;
- while attending a specific lesson - chemistry, physical education, labor training;
- for the period of being in kindergarten or school;
- while visiting the sports section.
In addition to the usual insurance and policy for active children attending sports clubs, there is another program that helps protect your child for many years. This is the so-called accumulative insurance. The essence of such a program is as follows:
- parents enter into a long-term contract with the insurance institution, for example, until the child reaches adulthood;
- Every month for the entire period of time, parents transfer a small amount specified in the contract to the insurance company account;
- at the time of the insured event, the company covers the costs of the child’s treatment and makes all payments due;
- if nothing happened to the insured child during the entire period of validity of the contract, i.e. the policy was not useful, the company pays the entire amount paid by the parents.
It is this type of insurance that is gaining the greatest popularity today, since it not only protects the child, but also allows you to quietly accumulate a fairly impressive amount, for example, for his education.
Schoolchildren insurance
Insurance of children against accidents and illnesses while they attend educational institutions is especially important. Although teachers are responsible for the child at school, they are simply physically unable to keep track of so many children at the same time. Have you ever seen a student who can sit in one place when the bell rings from class or a child who never runs or pulls his pigtails or backpack? There are probably some, but this is rather the exception.
That is why many insurance institutions offer special policies that guarantee additional protection for your child during school hours. The duration of such policies is usually an academic year - 9 months. They guarantee payment if a child is injured at school, but your child remains unprotected on the way to and from school.
Policy cost
Insuring children against accidents can include many risk items. The cost of the policy will depend on their quantity. The more clauses you want to include in the contract, the more you will have to pay.
The policy can start from 100-150 rubles per month, the highest level can be 20-30 thousand rubles per year or more. What to choose and how much to pay - you decide for yourself.
How to reduce the cost of your policy
As you already understand, accident insurance for children and schoolchildren can be either quite cheap or very expensive. If you do not lack funds, very good. What should those who want to insure their child, but are not entirely financially wealthy, do? There are several ways to reduce the cost of your policy. Here are some of them:
- Try organizing group insurance, for example, hold a conversation among parents and insure the whole class at once. In this case, you can count on a significant discount.
- Read the contract carefully and exclude from it those clauses that do not suit you. For example, many companies include mandatory vaccinations or a monthly course of wellness massage in the contract.
- Exclude dental services from insurance claims - they are very expensive; if necessary, it is easier to treat them yourself.
- Please note the deductible - this is a minimum amount for which expenses are not reimbursed. For example, if the deductible is 500 rubles, and the treatment of a bruise was cheaper, then the insurance company does not owe you anything. If treatment costs, for example, 800 rubles, then the policy will only cover the difference - 300. If there is no deductible, insurance costs more.
How much can you get
Child accident insurance provides partial or full payments, it all depends on the severity of the injury received. Maximum compensation is usually provided in the event of disability or death. Of course, the less the policy cost, the lower the amount of insurance payment will be. It can be approximately calculated as follows: the cost of the policy is approximately from 0.5 to 1.5% of the payment due in the event of an insured event. However, there is an unspoken rule - the estimated compensation cannot be more than 2 million rubles.
What you need to do to receive insurance payment
Compensation under an agreement with any insurance company does not depend on how many other similar agreements were concluded with other institutions. This means that you can purchase a policy from two or three different companies, and after the occurrence of an insured event, receive payments from each of them.
Insurance for children against accidents usually stipulates that from the moment of the accident you are obliged to notify the company about it within three days in any way available to you.
In order to receive a payment, you need to provide the following to the insurance company:
- contract;
- insurance policy;
- a document confirming the occurrence of an insured event.
Such documents may include:
- certificate from the emergency room;
- a doctor's extract from a medical or outpatient card;
- confirmation of an expert medical commission on the assignment of disability of any category;
- death certificate of the insured (copy + original).
The insurance company may also request additional documents confirming the occurrence of an insured event.
How to draw up an agreement
Insuring children against accidents, as well as any other type of insurance, is a fairly simple matter. You will need to follow a number of simple steps:
- select an insurance company;
- carefully study all options and conditions for the provision of services (preliminary consultation can be obtained by telephone or by visiting the company’s website);
- choose a suitable insurance program;
- prepare a package of documents necessary to conclude an agreement (usually you only need a passport and the child’s birth certificate);
- conclude an agreement and pay for it.
As you can see, everything is very simple and in practice rarely takes more than half an hour.
Choosing an insurance program
If you nevertheless decide to take out accident insurance for your child, reviews from those who have already used the services of one or another insurance company will help you make the right choice. What to look for:
- Choose an organization with a proven reputation, read reviews about it from other clients. Pay special attention to the negative ones - these are where all the “pitfalls” are usually described.
- Before concluding a contract, think again and try to impartially assess the personal qualities of your child. If your baby is an active person who can be in four places at once, choose a program that covers all risks as much as possible. If you are lucky enough to have a child with an average or minimal level of activity, a program with a basic set of parameters is quite suitable.
Some parents flippantly believe that child insurance is a waste of money. Of course, each of us hopes that nothing bad will ever happen to him, much less his child. However, it is still better to protect the child from accidents as much as possible.
It seems that you can insure anything and anyone can do it. However, it turns out that in order to conclude an insurance contract, a property interest associated with the object is necessary. This means that you are no longer free to insure everything. But even insuring does not mean receiving insurance money. Depending on the object of insurance, certain requirements are imposed on you as the policyholder, and if you plan to receive money during an insured event, you need to be recognized as a beneficiary from a legal point of view.
In other words, not everyone who pays calls the tune. Let's look at the concepts in different types of insurance. So, can I insure...
…REAL ESTATE. Real estate insurance is based on title documents confirming your ownership, lease or other property interest. Any person who uses this property and is interested in its safety can insure real estate. Therefore, to insure an apartment, it is enough to be registered in it and run a joint household with the owner. If the apartment is jointly owned by several persons, any owner can act as the insured.
Only the owner can exercise the right to receive insurance payment on the basis of a certificate of ownership. If there are several owners, then one of them is designated as the beneficiary under the contract and he receives the full amount of compensation. If the insured property is rented, the tenant can receive payment from the insurance company only with the written consent of the owner. The same applies to mortgaged real estate - you can receive payments only with the consent of the bank that issued the loan, or the amount is transferred to the bank to pay off the debt.
…HOUSE PROPERTY. Household property can also be insured by any person interested in its safety. Unlike real estate, this property does not have documents identifying its owner. Therefore, household property is insured at the permanent place of residence, the address is indicated in the policy, and the insured and beneficiary is any person registered in this apartment or the owner of a country house.
…AUTOMOBILE. Like insurance of any property, motor vehicle insurance requires a property interest in its safety. Theoretically, any driver admitted to driving has such an interest, however, in recent years, insurers have been inclined to a clear requirement - only the owner of the title is the insured, and he is also the beneficiary of all insured events.
Exceptions are cases of purchasing a vehicle under a general power of attorney or on credit. If you draw up a general power of attorney with the previous owner, then the latter cannot be fully called the former, because the power of attorney may be revoked or expired. In this regard, you should carefully check the text of the power of attorney and find in it not only the right to use, sell the vehicle and other actions, but also the right to conclude an insurance contract and receive insurance payments. Without this phrase in the power of attorney, not a single insurer will pay you money for insurance.
If the car was purchased on credit, then for the risk of “damage” the buyer is considered the beneficiary, but in the event of theft or death, the bank is considered the beneficiary in the amount of the outstanding loan.
...LIFE AND HEALTH. When it comes to health, the person himself, his family, employer or business partner, as well as the creditor bank have a material interest. It is these persons who can primarily act as policyholders, but theoretically this can be any person who agrees to make a contribution. The Policyholder does not acquire any rights to receive money in personal insurance. Only the insured person or the organization providing services under the insurance (a hospital or service company) can count on compensation, but one way or another the insured person receives help.
In the event of death (accident insurance or life insurance), it is obvious that the insured is not able to receive payment, therefore, in the contract, with his written consent, a beneficiary is appointed. Even if the person indicated by the insured is not his heir by law, no one has the right to challenge his receipt of insurance benefits in the event of the death of the insured. If such a person has not been appointed, then the beneficiaries will be the heirs at law after assuming the rights of inheritance. Such agreements are concluded by employers in favor of employees, because do not have the opportunity to obtain written consent from each employee.
... LIABILITY The insured in the contract can be any person who believes that in the course of his activities he can cause harm to someone, and the victims automatically become beneficiaries. We began to get used to this principle with the introduction of compulsory motor liability insurance, and at first not everyone understood why I paid for the policy, but someone else paid for the repairs.
There are many other types of liability where we can act as beneficiaries. Most professional activities involve liability to the client, so if you are interested in insuring your rights, you can check the availability of a liability insurance contract with builders, notaries, appraisers, realtors, doctors at paid clinics and beauty salons. A liability insurance contract guarantees you quality services and compensation in case of errors and accidents. In addition, the presence of a liability insurance contract for these professionals will once again confirm the reliability of the organization you have chosen.