The insurance fund is what? Insurance Fund of the Russian Federation

Insurance is an important part of people's lives. Now it is applied in different spheres: loans, life, health, real estate, transport. Each type of service has its own characteristics, but they are united by the fact that the insured person receives compensation in the event of a particular case. All this is fixed in the contract.

The insurance fund is the monetary stocks of the company necessary to compensate for harm from natural disasters and emergency circumstances. To date, there are 3 forms of its organization:

• state;
• Self-insurance fund;
• Fund created by the organization.

Each harm compensation system has its own characteristics. Certain groups of citizens can participate in them.

State fund and self-insurance

Thanks to national resources, a state insurance fund is created. The organization can work in kind and in cash.

The fund is designed to compensate for damage from accidents and natural disasters. Money is paid to people to eliminate the consequences of an unpleasant event.

The self-insurance fund is created thanks to the natural and monetary reserves of the subjects. Its main task is to ensure the normal activity of the entity and its financial stability in a negative economic environment.

Foundation Organization

Each organization can create its own insurance fund. This will allow you to pay reimbursement and insurance amounts based on rules and conditions. The formation of the system occurs in cash. Each participant agrees to pay contributions.

Inside the fund, a redistribution of the loss of one of the participants between the rest is carried out. To establish the appropriate size of the fund, the organization uses the methods of actual calculations.

In any case, insurance helps to cover the costs of damage. The insurance fund consists of contributions that must fully cover possible losses. Participants are paid an amount corresponding to the level of danger and the price of the property.

Contributions cover administrative expenses intended for management. They create a reserve, which covers losses during unfavorable periods. The company must have a specific profitability.

Tasks of funds

Such organizations perform quite significant functions, since they are useful to citizens. The tasks of institutions include:

• Collection of contributions;
• Control over the use of funds;
• Financing of insurance payments;
• Performance of other functions approved in the legislation.

Categories

The insurance fund is an organization that pays out money to a person who has concluded a contract with it. If the institution is non-governmental, the contributions are paid voluntarily, the amounts are established by agreement of the parties. Customers have the option of choosing service packages and paying for them.

The Russian state-owned insurance fund requires mandatory payment of contributions. The law can find information about the amounts that repay certain categories of citizens. For this purpose there are special terms. The law may indicate additional conditions, as well as benefits. Insurance companies' funds are usually commercial, as each organization develops due to investments of customers in the assets of enterprises and securities.

What is the difference between funds from public systems?

Compared to state structures, funds have a simple organization and a low level of bureaucracy; Amounts pay out more than those that are provided in state institutions, and according to established rules.

The contract prescribes risks that are recognized as insurance. If some conditions are not fulfilled, then payments should not be expected.

Structure of state funds

The Insurance Fund of the Russian Federation has many units that differ in the rules. Each organization has its own provisions. In Russia there is pension, social, medical insurance. The work of each institution is regulated by law. The social insurance fund provides support to those who found themselves in a difficult life situation. These include loss of work, the need for treatment.

Today there are voluntary insurance programs. If the citizen makes additional contributions, then he is guaranteed benefits or high payouts. Voluntary services are also indicated in the legislation.

The state usually renders those services, which are unlikely to be obtained from private structures. For example, social and medical. And private companies need profit. State structures are more reliable, since money is paid small, but it is guaranteed.

Types of funds

There is such a thing as "extrabudgetary insurance fund". It does not include funds from the federal budget and the subjects of the country. There are 3 types of insurance in Russia:

• Medical;
• Social;
• Pension.

The work of the funds is controlled by federal laws, regulatory documents and the Budget Code of the Russian Federation. Assets are formed through contributions.

Health insurance

There is an OMC in the country, which is part of the government. A medical insurance fund is an organization that makes payments to citizens in case of health problems. Activities are governed by the constitution, legislative documents, regulations.

The MHIF fund is a legal entity, has a separate property, maintains an independent balance. The organization has open accounts with the Central Bank. The main activity of the fund is the accumulation of money intended for the medical care of employed and unemployed citizens. With the help of the fund, the work of medical organizations is financed.

Social insurance

The Social Insurance Fund implements the state policy in the field of ensuring the normal life of citizens. The funds are the property of the state and can not be withdrawn. The main activity is the social protection of people regardless of their material wealth:

• Benefits for pregnancy, disability;
• Payments with the birth of a child and until the baby reaches a year and a half;
• A funeral allowance;
• Compensation for treatment in a sanatorium.

Legislation establishes the payment of contributions from employers according to the approved tariffs. Payment rules are uniform throughout the country. Regional offices exist in every area. The activities of companies provide assistance to citizens in insurance events.

Pension insurance

The fund is created for the management of finances in the pension sphere. The funds are state property, can not be withdrawn and are not included in the budget.

The pension fund is created thanks to:

• Contributions from the working population;
• Assignations from the federal budget;
• Reimbursements;
• Fines;
• Voluntary contributions.

The funds are used to pay pensions, material assistance to disabled and elderly citizens. They also allow the payment of benefits for children and provide other areas of welfare.

Features of mutual insurance

Mutual insurance is a non-profit form of fund organization, with the help of which the protection of property interests of citizens is ensured. From the legal point of view, each participant has two statuses: the insurer and the policyholder. This right is provided by means of the policy.

The participants of the fund are insured, and the reserve is formed due to contributions. The funds are used to compensate for losses based on established rules.

The mutuality of the fund means that the losses are covered by the participants themselves. In its full form, this is ensured when the insurers themselves become consumers. Then the insurer is interested in mutual assistance.

If the fund is commercial, then the intermediary of insurance is considered to be an entrepreneur. In this industry, an important goal is to make a profit, but it is achieved through tariffs, price increases, investment work.

An important principle of mutual insurance is non-profit, since it is actively non-commercial. When losses exceed revenues, additional contributions are made. Therefore, such organizations operate on the principle of joint responsibility.

Pension contributions are paid by employers in favor of their employees. Thanks to this, old-age benefits are being formed. Payers can be citizens who pay remuneration to individuals, organizations, entrepreneurs. When the payer belongs to different categories, he pays all contributions separately.