:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/elfinanciero/LHC23P45UBFZ5FM2DAWCE6RC5M.jpeg "How Infonavit Self-Insurance for Disability Works and When Your Credit Debt can be Cleared?")
work accidents They can put you out of work for the rest of your life.. For this type of case, the Institute of the National Housing Fund for Workers (Infonavit) supports you in case an incident of this type happens to you.
The Mexican Institute of Social Security (IMSS) explains that in Mexico, 1,100 work accidents occur every day. The majority, he explains, “happens due to the dangerous conditions that exist in the equipment, machinery, work tools and installations, as well as due to the attitude orunsafe acts of workers when carrying out their activities”.
One of the questions that appear in the workers disabled by accident or illness it is what happens with the debts and credits that you have and if you are at risk of losing your house or apartment by defaulting on your mortgage payments.
Therefore, Infonavit has a system that allows workers to insure their assets if they are victims of accidents at work.
What is the Infonavit disability self-insurance?
It is a support in case a person has to stop working. Consists in a promotional extension for 2 years if your disability is “permanent partial of 50 percent”.
With said extension the balance of your mortgage credit is suspendedwhich also helps so that the interest on the debt does not increase.
During this time, depending on the circumstances, you will be able to process what is necessary to fix your finances after the accident, either with a permanent disability pension or with another source of income.
If your disability is permanent, Infonavit releases your credit and is responsible for paying off your mortgageso you will not pay more monthly payments.
The objective of this program is thatkeep your heritage and peace of mind”, as explained by Infonavit.
Disability self-insurance: How is it processed?
You only need two documents once your case is assessed after the work accident:
- official identification: INE or valid passport or professional certificate.
- Opinion of permanent total disability, permanent disability or permanent partial disability of 50 percent or more of a definitive nature issued by IMSS (ST3, ST4, MT3 or MT4), Profedet or ISSSTE.
The process is carried out in person. For that reason, you will need to book an appointment, either on their website or by phone 800 008 3900 from anywhere in the country.
