Is it possible to refuse insurance on a loan at VTB 24

Credit insurance is compulsory only when obtaining a mortgage, funds to buy a car. In other options, life insurance is voluntary. Thus, in a consumer non-targeted loan, this service can be waived.

VTB 24 is one of the most popular banks where, as in others, life insurance is imposed upon signing an agreement. Managers condition this by the fact that the percentage will be lower this way. At the same time, there is an option to return your money, we will consider how to refuse insurance for a loan at VTB 24 bank if a loan has already been taken or is at the stage of signing an agreement.

Why the service is imposed

The managers of any bank try to impose life insurance when applying for a consumer loan, since the loan amount itself increases, and, consequently, the bank employee receives more remuneration for the transaction. At the same time, consumers have a logical question whether it is possible to refuse credit insurance.

In this case, VTB 24 Bank is no exception. Since insurance is a voluntary matter, according to the law, even at the time of signing, you may not sign documentation for additional services, including insuring your life. Bank employees will tell you that this is a higher percentage of a positive decision on a loan, under more favorable conditions.

Since the bank itself concludes an agreement with a certain insurance company, in this bank it is VTB insurance, then the interest goes to the legal entity. On the part of the staff, the benefit is also understandable - it is a higher personal profit from the transaction. Your only benefit is that you will actually be insured for the duration of the contract.

If you still decide to refuse insurance on a VTB 24 loan, then you can do it in several ways.

How to refuse insurance on a loan taken

If, after signing a contract that still includes life insurance, you decide to refuse this service. That can be done in three ways:

1. The first possible option is to cancel the service within five working days after signing the documents. It is confirmed at the legislative level and spelled out in consumer rights.
2. The second option - at any time of the validity of the loan agreement, you can contact the insurance company with a written statement about the refusal of life insurance. They must recalculate you based on the number of days used by the insurance.
3. The third option, after receiving a loan, a month later, you can apply to VTB 24 with a written application, with a request to return your money for insurance.

When choosing an option, you first have to carefully study the documents that you signed when receiving money. If the cost of the service was written off for all the insurance at the same time, then it will be possible to refuse only through the insurance company, and not through the bank.

How to get your money back

If the imposed service is not included in the list of mandatory ones, as in the case when you are given a loan for the purchase of housing or transport (the property itself is insured), then you can return the money.

First of all, build on the terms of the loan. If the possibility of a refund is spelled out there, then you will be able to receive funds, if not, then all the remuneration will remain with the insurance company in case of early termination of the loan.

Usually in the contract itself, you will see the algorithm of actions for the refund, so before taking this service additionally, be sure to read the documentation.

In practice, that part of the funds that falls on the period of invalidity of the policy, minus the bank's commissions and compensation for early closing of the loan, is subject to return. For example, if you applied for termination only a year after the loan was issued, then you will be able to return only about 15-20% of the original amount.

If, during the early closing of the loan, you encounter any problems with the return of the amount for insurance, then you can contact several organizations:

• the head office of the insurance company;
• Rospotrebnadzor;
• the prosecutor's office;

In any case, your application for a refund will have to be considered in your favor.

What is included in the disclaimer

Insurance companies have their own sample of how to fill out the application, but you can write it personally by hand. There you need to specify the following data:

1. Personal information (full name and passport data).
2. Contract data.
3. The reason why you want to terminate the contract.

The document must be signed. The reason can be entered the phrase "guided by the law" if you write a statement in the first five days after signing the documents.

Cancellation of life insurance for a consumer loan is not a basis for the bank to terminate the contract. Since you are acting in accordance with the law, and the insurance is voluntary.

conclusions

1. At VTB 24 Bank, you can refuse consumer lending insurance if you do not take out a home or car loan, where property insurance is mandatory.
2. The easiest way - when signing the contract or in the questionnaire itself, indicate that you do not want to take additional services.
3. If you have already taken out a loan, then according to consumer rights, within five working days you can refuse insurance without losing money.
4. If more time has passed, then an application is written to the bank or to the insurance company. In case of early closure of the loan, for recalculation of funds under the policy, you must contact the office of the company with which the bank has an agreement.