In Western practice, in the package, along with permanent total disability, a loss of professional capacity for work is suggested, that is, the loss of the opportunity to engage in any specific professional activity, for example, due to the formation of the insured person. In the US space before, such coverage is devoid of economic meaning, since often education is not a factor that strictly determines the sphere of possible work activity and income level. Many treatments in the clinics are not included in insurance such as: Click to read more about the treatment .
In this connection, in the local market, a permanent full loss of ability to work is used as a substitute, that is, the loss of the opportunity to work as such.
The second thing that distinguishes a product from many others is the lack of choice.
The decision on which category of borrowers will be, and which will not be insured in case of loss of work, is taken by the bank and the insurance company. In order to avoid antiselection, insurance should cover the entire group of clients without giving them the opportunity to refuse this insurance protection or add it to the cover at their own discretion. The borrower remains to submit – or to refuse a loan. For example, a bank issues a car loan, and to ensure the safety of its return requires the existence of a borrower’s insurance policy from job loss.
It is interesting that at the same time the product can not be purchased on its own initiative – according to the logic of the bank and the insurance company, only a person who understands that he can lose his job wants to secure himself.