Credit insurance is a measure to protect the bank from non-repayment of funds by the borrower. The insurance company reimburses loan payments if the insured person is unable to bear financial responsibility due to the occurrence of an insured event.

80% of Russian banks are interested in the fact that when registering large consumer loans, mortgage and auto loan customers took out insurance.

Statistics for 2016 showed that 61.5% of borrowers have life insurance, 19.3% have accident insurance, 5.9% have property insurance, 5.6% of policies are car loans, and 7.7% are other types of insurance .

What does bank loan insurance provide?

Reduces the risk of loan default. By issuing a policy, a citizen protects himself from various force majeure. Among them:

Job loss;
Loss of health;
Damage to property and decrease in its cost.

In the event of an insured event, the company undertakes to compensate for the damage - in part or in full.

What does insurance give when obtaining a loan to a borrower?

Does it guarantee loan repayment in case of force majeure?
Reduces the rate;
Increases the size of the loan and the term of the loan.

If, when obtaining a loan, the borrower takes out life or disability insurance, then in case of loss of work or health, he may not worry about repaying the loan. The insurance company will cover the debt. The main thing is to submit an application and prove the fact of the occurrence of an insured event.

About 60% of Russian banks, when calculating the amount of overpayment, take into account:

Loan amount;

client status;

Availability of insurance.

The rate automatically increases by 2-5 points if the borrower refuses insurance. Upon receipt of the policy, the rate is reduced by 2-3 points.

In 40% of cases, life insurance for loans is an additional condition. To issue life insurance or not - the borrower decides for himself. However, without it, it is impossible to get a loan for a large amount.

Consent to insurance also increases the loan term. A prime example is mortgages. This is a risky type of loan, as it is issued for a large amount and for a long time. If the borrower takes out life insurance, the bank offers the maximum term for using the loan - up to 30-50 years.

Types of insurance

An insurance policy for lending is issued:

For the life and health of the borrower;

For property.

Features of life and health insurance

Life and health insurance is voluntary decision the applicant. Banks do not force you to issue a policy, but they do their best to facilitate this. How? Limit the terms of loans.

Life and health insurance allows you to avoid problems with the payment of a loan in the event of an insured event. If the borrower becomes unable to work due to an accident or illness, the company will take over the loan obligations.

Taking out life and health insurance is a time-consuming process. The insurance company will require a certificate from the client from the place of work, about the state of health and hobbies.

If the profession or hobby of a citizen is associated with risks, and the health certificate contains marks of serious illnesses, then insurance will be denied. Insurers do not provide social assistance to persons at risk.

Features of property insurance

The bank requires property insurance when issuing a mortgage or secured loan. The insurance protects the property and vehicles from loss of liquidity. If the property is damaged, the company undertakes to compensate for it.

How to get insurance in the event of an insured event?

Theoretically clearance insurance policy beneficial for both banks and borrowers, the procedure for obtaining a policy is simple and understandable. In practice, things are somewhat different.

In 60% of cases, insurance companies refuse to fulfill their obligations. To receive payment for damages, borrowers resort to the help of lawyers, banks and even courts.

In order to avoid problems with the payment of funds in the event of an insured event, you need to:

contact insurance company with an application and documents confirming the occurrence of an insured event;

Notify the bank to prevent problems arising from delays.

If the insurer refuses to pay, a lawyer and a bank can be involved in the proceedings. In 90% of cases, banks contribute to the return of insurance funds, as they are interested in repaying the loan.

In extreme cases, you can resort to the court. 80% of cases against insurance companies are resolved in favor of borrowers.

3 rules of competent registration of insurance:

Contact reliable companies;

Check the correctness of the contract of life and health insurance of the borrower with a loan;

Insist on a refund clause for insurance if it has not been used.

An integrated approach to obtaining an insurance policy will save you from misunderstandings and protect you from problems associated with paying a loan.

623 10/09/2019 6 min.

When making consumer credit In most cases, banks strongly recommend taking out life insurance. It is clear that this service is not free, and many borrowers have a natural question - is it mandatory, is it possible to do without an insurance policy, and are the actions of banks actively imposing life insurance when applying for a loan legal?

We will deal with these issues in the article - we will learn basic information about life insurance with a consumer loan.

Who benefits from life and health insurance for a consumer loan borrower

It should be noted that despite the opinion of borrowers that they absolutely do not need life and health insurance when applying for a consumer loan, and it is beneficial only for banks, both sides have a reason in this case. However, in order for life insurance to turn out to be really beneficial for the borrower, it is necessary to carefully reread the contract and exclude optional clauses from it.

Many banks include in the contract too many insured events, sometimes quite exotic ones. If you exclude such cases, the cost of the policy will be significantly cheaper, without losing its meaning. It is worth paying attention to this when designing.

On the video - life insurance for a consumer loan borrower:

Benefit for the borrower

For the one who takes the loan, the benefit in this case lies in the fact that the debt to the bank will not be placed on relatives, children, other heirs in the event of his own disability or death. It is clear that when applying for a loan, the least person thinks about possible catastrophes, accidents and illnesses, however, such situations are not uncommon, and in this case, the next of kin of the borrower will have to pay for the loan. Sometimes such a burden can be unbearable for people left without a breadwinner. Is it possible to refuse credit insurance before, and after receiving, find out.

However, most borrowers rely on "maybe": after all, an insured event may not occur, and you will have to pay for expensive insurance monthly at the same time as paying the loan.

But if the borrower's profession or hobby is associated with a certain risk, then in this case, life insurance when obtaining a loan can be a very prudent moment (and profitable). Rescuers, firefighters, miners, climbers and other categories of citizens - almost every day these people take risks.

Benefit for the bank

It is clear that the bank also benefits in this case. Note that when insuring the life of the borrower, the bank does not remain unprofitable in any case - therefore, it is beneficial for the party that provides the loan to persuade the recipient sum of money to insurance coverage. If the borrower has purchased the policy, the bank practically receives a guarantee that its risks in this case are minimal, and he will receive his money back, no matter what happens to the borrower. Read about the return of insurance on a Sberbank loan.

Note that if the borrower repays his loan (and at the same time insurance) always on time, without delays, and there is no insured event during the period of repayment of the debt, the bank receives almost one “moral satisfaction” and confidence that the debt will be repaid.

In this case, he takes a large share of the payments for the policy, leaving the bank with a smaller amount. But if an insured event occurs, the benefit of the bank is obvious. You don’t have to fight to knock out a debt from the borrower’s relatives, guarantors, wait until his children become capable, or you can simply contact an insurance company that will cover all losses. He will tell you about mortgage insurance for an apartment.

Banking and life insurance

In different financial institutions, the conditions for life insurance when providing a consumer loan are different. Most banks use a matrix tariff model, which means that the amount of payments under an insurance contract is directly dependent on the amount of the loan. Next, consider some of our most famous banks, and their conditions for life insurance of the borrower.

Drawing up an agreement in Sberbank

If you plan to get a consumer loan from Sberbank, then insurance of the object that acts as collateral in this case will be mandatory. Life insurance is up to you: it is desirable, but not mandatory.

Note that in this case, whether you enter into an agreement for or not does not affect the amount of interest on the loan or the amount of the loan. Today, Sberbank thus provides the most loyal conditions for issuing consumer loans.

Lending in Uralsib

Here the conditions are more stringent, and the interest rate of consumer lending is higher. In addition, the bank offers borrowers who have taken out a life insurance policy lower interest rates on a loan than those who do not conclude an insurance contract. He will tell you about the return of insurance on the loan after repayment.

Renaissance

In this case, life insurance of the borrower is a prerequisite for granting him a loan. Not very favorable conditions are exacerbated by rather high interest rates, but here you need a minimum list of documents.

Is insurance required

According to the legislation of our country, life insurance when applying for a consumer loan is not mandatory. However, as you could see above, some banks do not think so, and literally force their borrowers to take out this insurance.

Moreover, such a widespread "cunning" of some credit institutions: to reduce interest on consumer loans subject to the obligatory registration of an insurance policy. Thus, the borrower attracted to the bank low interest, is forced to conclude a life insurance contract - otherwise he will not see a loan.

Thus, life insurance when obtaining a consumer loan is not mandatory, and you can look for a bank that issues amounts without requiring you to insure your life. You don't have to go far - this is, for example, the well-known Sberbank.

On the video - general information about credit insurance:

Most financial institutions that provide loans, the borrower does not have the right to choose a specific insurance company. If you want to receive money loan at lower interest rates, you will have to agree to use the services of those insurance companies that are approved by this bank. But we note here again the function: this organization, unlike most other banks, only recommends a list of insurance companies, and does not categorically impose it.

Usually banks cooperate with several insurance companies at once - so choose best option you can anyway.

The term of the insurance policy is identical to the term of the loan agreement. That is, as you closed the loan (possibly ahead of schedule), so insurance payments should no longer be made. The cost of insurance in most banks is from 0.6% to 1.6% of the amount of the loan. Find out about the cooling period in insurance at.

Occurrence of an insured event

In case of life insurance, an event falling under the terms of the contract is considered to be:

• disability of the borrower;
• disability;
• death.

Note that any insured event requires documentary evidence. The list of documents is always indicated in the insurance contract.

If the borrower has temporarily or permanently lost his ability to work, and so far he cannot continue to pay on the loan, it is necessary to take medical institution certificate confirming the fact of disability. Then you should contact the company that issued the policy with a statement on the provision of material compensation under the contract. Note, however, that the coordination of moments with the insurance company, the collection of documents - all this takes enough time: you must immediately notify the bank about the occurrence of an insured event.

If it happened that the borrower died, his relatives should apply to the bank, providing a death certificate, the necessary extracts. Note that suicide is not an insured event, and if the borrower commits suicide, his debts will be transferred to heirs or guarantors, co-borrowers.

If the insurance company refuses to recognize the case of disability or disability of the borrower as insurance, the borrower should immediately contact the bank with this problem.

The fact is that the bank itself in this case is an interested party, it wants to receive its money (no matter from whom), so it may well find leverage and pressure on the insurer company. It happens that in this case the bank begins its investigation, considering in depth and comprehensively the legitimacy of the actions of the insurance company.

Even if it is not possible to force the insurance company to pay compensation - if indeed the case is not insured, the bank can still make certain concessions to the borrower, softening the conditions for repaying the loan.

Payback

Many borrowers who once concluded a life insurance contract when receiving a loan, after paying off debts to the bank, want to return the money paid under insurance.

A logical desire, however, there are some nuances here, namely:

• it is necessary to prove that the insurance contract was once imposed on you;
• need to in loan agreement it was spelled out in black and white that the amount of the loan is in direct proportion to the borrower's insurance;

On the video - the return of insurance:

The region where the case for the return of insurance payments is being considered is also important. Also, do not forget about. In any case, you can file a lawsuit in court for the return of insurance payments to you - and the outcome of the case depends primarily on the points mentioned above.

So, we have learned why life insurance is needed when applying for a consumer loan, and whether it is worth concluding this agreement. As you can see, the service is not mandatory, and you may well refuse it. Another question is how the bank will react to this, and whether the refusal will become the reason for not issuing a loan in this case. In any case, whether to take out insurance or not is up to you, do not forget to carefully weigh the possible risks before signing the contract, take into account your financial capabilities, and exclude all far-fetched insured events from the contract.

Loans are currently a very common banking product. There are few people who have not taken a loan at least once in their life. The main significant plus of a consumer loan is that it does not matter to the bank what the funds will be spent on. borrowed funds. The borrower is not required to provide any reporting to the bank on these funds, but must only pay monthly for its obligations. Recently, when applying for a consumer loan, banks impose life insurance.

What is a consumer loan and is it necessary to insure life when receiving credit money from a bank

In this case, during the execution of a consumer loan, the bank tries to impose insurance, on the basis of which, in the event of an insured event, the insurer compensates the bank for its losses.

These mainly include cases when the borrower, due to death or serious bodily harm, will not be able to pay his obligations.

On the one hand, the borrower can always be sure that if he loses his ability to work, the insurer will be responsible for him for his obligations. But the biggest problem is the cost of this insurance.

Often the insurance premium is 15-20% of the loan amount. And these are not small sums.

Banks and bank managers have good interest on sold insurance products. Therefore, they try to impose this different ways. Some of the most common are threats of not issuing a loan, as well as increasing interest rate under contract.

But officially, under the law, no bank has the right to make the receipt of one service dependent on another.

What amounts are subject to insurance when lending

Based on the legislation on the inadmissibility of the dependence of the provision of one service on another, the bank does not have to require life insurance. This rule is valid regardless of the amount of consumer credit and its term.

The bank may limit the amount it can give when refusing.

It is also possible to limit the maximum time for which a loan can be issued.

What happens if you cancel your insurance

The Bank may change the interest rate and any other conditions for the provision of banking services in case of refusal of the insurance service. But it does not have the right to refuse only on the basis of refusal of insurance.

Legislation regulation

The prohibition on the imposition of additional services to the main ones is regulated federal law. This legislative act is known by name to very many and it is called “On the Protection of Consumer Rights”.

True, not everyone knows him well, so many unscrupulous insurance companies, banks and others legal entities take advantage of Russian illiteracy.

But if you delve into the study of this law, then you need to read paragraph 2 of Art. 16, where it is written that it is forbidden to condition the purchase of one type of service on the obligatory purchase of other services.

Based on this legislative act any citizen has the right to receive a consumer loan without life insurance.

When in bank agreement it is written that the insurance contract must be drawn up for the entire period of the loan, then this contract can be challenged even out of court by writing a waiver of the insurance contract. Since this is a direct violation of the law.

Read about termination of the insurance contract.

Borrower life and health insurance

But if, nevertheless, the bank employees convinced of the necessity or profitability of concluding this insurance contract, then it is necessary to conclude it on favorable terms for yourself. Before signing this contract, be sure to read it carefully and clarify all incomprehensible points in it.

During the imprisonment consumer contract the borrower not only signs bank documents, but also concludes an insurance contract and pays an insurance premium from the borrowed funds.

This contract is an insurance policy of a certain insurance company. When concluding insurance, the borrower can choose any insurance company that has the appropriate license to provide this service.

When choosing an insurance company, you should be guided by the lowest insurance premium and a wider range of insured events.

A bank employee may claim that they only work with one or more insurance companies, in which the borrower must insure. But this is not legal and he cannot refuse to issue a loan on this basis.

Read about life insurance in case of death.

But many banks cooperate with a certain list of insurance companies and provide a choice to their customers.

The main document that confirms the conclusion of an insurance contract, regardless of the insurance object, is an insurance policy. This document contains basic information about the insured, it contains all insured events, the cost of insurance, its validity period and the amount of the insurance premium.

This insurance contract is usually concluded for a year. And if you refuse to extend it, the bank may provide in its contract for a change in the interest rate not in favor of the borrower. These conditions must be read in advance in the contract before signing it.

Return of the insurance offered by the bank and termination of the contract

If the insurance is terminated after a few months, the insurance company has the right to withhold a certain part of the insurance premium.

When repaying a loan ahead of schedule, it is not always possible to return the amount paid insurance premium. at early repayment will depend on the prescribed conditions in both contracts and on the literacy of the lawyer.

But you must try to write a statement to the insurance company.

In any situation where the insurance company has received a refusal to return the paid insurance premiums, it is necessary to go to court and resolve this issue in court. As practice shows, more than half of such disputes are resolved in favor of the insured.

Video

conclusions

Based on legislative acts, like any other insurance products, it is voluntary, and any borrower can refuse it. Only in special cases, when the law directly obliges a person to insure his liability, is an insurance product mandatory.

However, the bank has the right to change the terms of the loan not in favor of the borrower when concluding an agreement without life insurance.

The bank does not have the right to impose life insurance as a mandatory product, and it cannot refuse to issue a loan on this basis either.

In addition, any insurer has the right to terminate the insurance at any time and receive back part or full amount insurance premium depending on the period of use of the insurance service.

In case of refusal from the insurer to return the insurance premium, it is necessary to apply to the court. Most of these lawsuits are decided in favor of the insured.

When applying for a loan at Sberbank, a person is often faced with the fact that he is “voluntarily-compulsorily” offered to insure. But why is it needed, and when is it mandatory? What kind of risk protection does Sberbank offer, and what can it give the borrower when applying for a loan with insurance in this particular bank? We will talk about all this in detail in this article.

Main types: bail or life policy

Law on consumer lending citizens clearly points to the need to obtain insurance only in two cases:

• when a person gets a mortgage;
• arranges a car loan.

Both types of products are collateral- that is, they assume the presence of property that is collateral for a loan. And, according to the law, these properties must be insured. If you refuse to issue a policy, the bank has the right to refuse to issue a loan to you.

The object of pledge is usually protected from:

• the risk of losing the object;
• loss of ownership of it;
• damage to collateral, and the resulting costs.

In the event of an insured event, the insurance company assumes the obligation to pay all expenses.

Mortgage is a high-risk product Therefore, the borrower is obliged to insure his life. This is required by law, and allows the lender in the event of the unforeseen death of the borrower to receive payment of the debt from the insurance company.

The heirs will not be required to pay the debt for the deceased. The apartment becomes the property of the heir of the first stage.

Sberbank offers additional protection against:

• job loss;
• disability;
• accident (or death).

Is it possible to refuse credit insurance at Sberbank and how to do it?

Borrower may benefit from job loss protection. If the employer reduced or dismissed an employee on his own initiative, the insurance company (hereinafter referred to as the IC) is obliged to transfer payments against the loan until the moment of his employment. This avoids delays and problems with the creditor.

Other types of protection, as a rule, are not needed., and they have to be paid every year, until the loan is repaid. It is important to remember that in consumer lending, none of the insurance program is not mandatory, so you have the right to refuse it.

It is permissible to refuse the services of an insurance company during the entire period of debt payment. But we will talk about this a little lower.

Important nuances

Before getting insured you need to pay attention to the following nuances:

• Usually Sberbank offers to issue a policy in its own subsidiary. But if you are not satisfied with the conditions that are offered, you have the legal right to choose your own insurer. Don't be afraid to tell the loan officer about this.
• When an insured event occurs, many simply forget about the need to submit an appropriate application to the insured, as a result of which payments are not made, problems with the bank arise.

  It usually refers to the loss of a job.

  If you have lost your job - open your contract, see the deadlines for contacting the insured, and submit an application, having previously notified the creditor of the incident.

• Bank employees can instruct on compulsory insurance during the processing of a consumer loan, citing the fact that otherwise you simply will not be given money. It is not true. Feel free to refuse additional services. You are protected by the Federal Law "On Consumer Lending".

In fact, insurance can be a useful tool when lending so you don't have to worry about losing income, failing to pay your loan, and getting into trouble.

Is it necessary to insure loans and some more information about the conditions of insurance when obtaining loans, including in Sberbank of Russia, find out from this video:

But the issue of obtaining insurance must be approached with maximum responsibility, choosing the optimal conditions for yourself. Then it will become a useful addition, and not a burdensome burden.

In contact with

Life insurance is one of the clauses of the loan agreement, which is freely or accidentally signed by each borrower in need of money. What does life insurance give, is it possible to refuse it, and how to do it?

2. Is life insurance required when obtaining a loan?
3. Is it possible to cancel life insurance on a loan?
4. Is it possible to terminate a life insurance contract on a loan?

Life insurance when obtaining a loan - consider the advantages and disadvantages

There are not so many advantages, as well as disadvantages, of life insurance when applying for a loan.

Benefits of insurance:

In the event of disability or death, the borrower's relatives will be protected from credit debts In this case, the insurance company assumes all the obligations of the borrower.

Life insurance - not only protection against risks for the borrower, but also a convenient tool for saving money - up to 4 percent per year of guaranteed income.

Life insurance will be relevant for a family with one working parent; for parents who care about the future of their children; for grandparents who want to leave an inheritance to their children/grandchildren.

Option accumulative insurance assumes that the heirs will receive the accumulated money even if the insured did not live up to the expiration of the insurance period.

In the absence of an insurance policy, the heirs will have to reissue a loan or agree to the sale of housing (if it is, for example, a loan for an apartment). If there is a policy, the heirs immediately receive ownership of the apartment.

The interest on a loan with life insurance will be lower than without insurance.

Cons of insurance:

Most likely, you will have to undergo a medical examination.

If an insured event occurs, you will have to prove that there was no fact that the borrower concealed his chronic diseases. And also that the injury received at the time of death or death itself is not a consequence of alcohol (drug) intoxication.

Life insurance is not a free procedure (0.45-1%). Paying insurance on a loan of, for example, $50,000 will be $100-1,000 per year.

There are always exceptions to insured events. That's why the terms of the insurance contract should be carefully studied . There are cases that are paid by the insurance company, and there are those in which the payment will be unequivocally denied (for example, suicide).

The money spent on life insurance under the standard banking scheme is not returned if an insured event has not occurred.

The amount of the monthly payment on the loan will be much higher than the payment without insurance. Sometimes the monthly amount for insurance exceeds the amount of the principal payment on the loan. If the insured events listed in the contract are unlikely, then it makes sense to immediately refuse insurance.

In some cases, a package of evidence documents that must be submitted to insured event, is so large that it is simply impossible to collect these documents.

Is life insurance required when obtaining a loan?

According to the laws of the Russian Federation (Article 935 of the Civil Code), life insurance for any borrower is an exclusively voluntary procedure. No one has the right to legally enforce it. The borrower can opt out of insurance calmly and confidently. True, they can refuse a loan, but this is another side of the issue.

Today, banks simply include a clause on life insurance in the conditions for issuing a loan. , and not everyone knows that this service can be easily refused. The borrower is simply helped to check the boxes, and after a while the client understands that he has automatically signed a consent to life insurance and, accordingly, insurance payments. So mindfulness comes first.

Is it possible to refuse life insurance on a loan - when are you required to insure your life?

Life insurance when applying for a loan is the protection by the borrower of his relatives from obligations to pay credit debt. Therefore, at the slightest concern about your health and life, you should take out insurance in order to protect your family from serious problems.

What else do you need to remember about life insurance?

Be sure to check with the specialist of the insurance company - what specific conditions are the reason for the insurance payment. What are the deadlines for collecting documents. What are the terms of payment after the occurrence of an insured event.

When filling out the questionnaire for an insurance policy, indicate the most accurate and extensive information about yourself - this will reduce the risk of non-payment of insurance. That is, all your chronic diseases, injuries, all hobbies, professional risks. For example, if the borrower is a diving fan, and death occurred just in the process of diving, then the insurance company will not pay insurance if this hobby was not taken into account in the questionnaire.

The borrower has every right to independently choose an insurance company, and not only from the list of insurers offered by the bank.

The Bank has no right to force the borrower to sign the insurance contract.

Is it possible to terminate a life insurance contract on a loan?

Can I opt out of life insurance? Can! Moreover, at any time.

Option one:

When applying for a loan, you decided to refuse insurance. The bank employee told you that in this case, the loan will most likely be denied. Since you are in dire need of money, you are forced to agree to insurance. What to do next?

After signing all the required papers, immediately write a complaint to the bank's management with a text about the misconduct of a bank employee and with an application for cancellation of insurance.

Did the complaint work? Contact government agencies - the prosecutor's office, FAS or Rospotrebnadzo R. Just stock up on evidence that you were forced to take out insurance (audio, video, witnesses, documents).

You are required to return the paid cost of insurance to you upon your application.

Option two:

You have discovered that you took out insurance along with the loan, or you simply decided to refuse insurance. What to do?

Return to the bank (as soon as possible) and inform the manager of your desire.

Get an insurance waiver form, fill it out and sign it.

After registration (re-issuance) of documents, you will receive a new payment schedule, already excluding insurance payments.

Does the bank employee insist on keeping the insurance in the contract? Ask him if the loan insurance is legal, and why you are being forced into a voluntary service.

The bank does not want to meet you halfway? Terminate the insurance contract in court. First - a claim to the bank's management (refund and cancellation of insurance), after - statement of claim. Just to get started, make sure that the loan agreement provides for the possibility of such a refusal.