How to cancel life insurance on a loan. Available ways to cancel insurance

Rising from the ashes after the world financial crisis and today it is difficult to find a Russian family that does not use borrowed funds. Along with the receding into the background of global financial problems, the so-called “commissions” (for servicing a loan, maintaining an account) and other services imposed by banks have sunk into oblivion. Having lost a significant source of income credit organizations began to look for new ways to earn money, which resulted in the creation of alliances with. The result of this alliance was insurance when obtaining a loan. This article will tell you how legal it is to impose this service.

Initially, insurance does not carry anything bad; it is a voluntary service that a citizen can use to insure their own risks of non-refund. borrowed money.

Types of insurance:

It is no coincidence that the Government of the Russian Federation adopted a special resolution stating that the borrower has the right to offer the bank the insurance company with which he himself would like to insure himself, i.e. choose only from those insurers offered by the bank and it is not at all necessary to overpay for a loan.

Mandatory loan insurance

Clause 4 of Article 3 "On the organization of insurance business in Russian Federation" establishes that the conditions and procedure for implementation are determined (ONLY) on specific types of compulsory insurance.

Nowhere in any law of the Russian Federation can one find any mention of compulsory insurance when applying for a loan. However, there are special rules regarding collateral, i.e. apartments with a mortgage and a car with a car loan. In these cases, the bank has the right to oblige the debtor to buy.

This rule is established not by the rules on credit, but by the rules on collateral of property (Article 343 of the Civil Code of the Russian Federation), therefore its effect applies not only to mortgages and car loans, but also to all other cases of loans where there is collateral.

Is loan insurance always required?

No not always. To the question “is credit insurance necessary?” in all cases where there is no collateral, you can safely answer - it is not necessary. If a bank employee applying for a loan claims the opposite, then it is quite obvious that he is wrong, because such a position contradicts the Federal Law “On the Organization of Insurance Business”.

What to do if your rights are violated and insurance is still actively imposed under the threat of refusal to issue a loan?

In such cases, the banks themselves recommend signing both the loan and insurance agreements, and then immediately after receiving the loan write official complaint against a bank employee who forced the borrower to enter into an insurance contract, as well as to file application for waiver of loan insurance. In this way, the negligent employee will be punished, and the money paid for insurance will be returned to the borrower. At the same time, as explained in Sberbank, the application for refusal must be written as soon as possible after the loan is received, but if you delay, the amount of the insurance premium may not be returned in full.

The second option to achieve justice is to contact the state. authorities (Rospotrebnadzor, Federal Antimonopoly Service, Prosecutor's Office) indicating that the borrower's rights in terms of loan insurance are being violated.

The best way to solve the problem would probably be to use the first option first, and if it doesn’t help, then the second. The fact is that when contacting the government. organs, everything will turn out much more expensive in terms of time and nerves. Moreover, in order to supervisory authorities were able to initiate a case, they must receive evidence from you that confirms your words, i.e. documents, witness statements, audio and video recordings.

No matter what stage of solving the problem you are at, whether you are still applying for a loan, or are already trying to return the money paid for insurance, in any case, you should not skimp on the services of a lawyer, this will help save significant financial and time resources. For professional help, you can always contact our website.

By law, insurance can be mandatory only if there is collateral property; Government bodies take the position of the consumer in matters of credit insurance; You can cancel existing insurance.	Insurance when obtaining a loan is actively imposed by bank employees; Get real help the state is quite difficult; The insurance waiver process is not streamlined and encounters resistance from banks.

Refusal of Sberbank insurance during or after receiving a loan - is this procedure possible? Everyone understands perfectly well that the bank’s requirement for loan insurance is a certain protection of the lender from possible risks. They are related to the fact that the client, for a number of reasons, may not fulfill his obligations to repay the borrowed funds due to loss of solvency.

When applying for a loan, bank employees opaquely hint to the client that without insurance this option is impossible. But you should know that even with insurance, the applicant does not receive a 100% guarantee of the bank’s approval of the application. At the same time, the legislation determines that health and life insurance is a voluntary procedure for the policyholder and coercion in this matter is illegal. But there is another point: an insurance policy makes it possible to reduce the interest rate.

If you decide to refuse insurance while receiving a loan, then you need to act only in your own interests and show some persistence. To do this you should:

• Declare your unwillingness to take out a policy, guided by the law on voluntary insurance. Here you need to show restraint and not fall for the tricks of bank employees.
• If the employee continues to insist on his opinion, write a statement of refusal in 2 copies.
• Submit one application to the specialist with a mandatory note of his acceptance.
• In case of refusal, send one copy by mail to the address of the bank branch with the obligatory mark “Delivery with inventory”.
• If you refuse again, you should go to court and prove that the bank is illegally imposing a paid service on you.

Of course, legally you can “fight” with the bank. But there is no guarantee that your further loan application will be approved. Therefore, before you start a “war”, try to come to an agreement. The contract may contain conditions when insurance can be canceled after its conclusion.

Waiver of insurance after receiving a Sberbank loan

Out of fear that the loan will not be issued, clients agree to insurance. But they have a chance to refuse insurance after receiving a loan from Sberbank. The same decision can be made by those for whom the service simply was not suitable. By law, you can return money for the policy even after signing the contract. To do this, you must apply for a refusal. The main condition for a 100% refund is to make it within 14-30 days after concluding the insurance contract. If you miss this deadline, the amount will be returned by 50%, and in addition, the bank may deduct the insurance premium.

How to act wisely in this situation and get your own money in full? The algorithm of actions is as follows:

• go to a bank branch and fill out an application to Sberbank Insurance to waive insurance;
• prepare copies of documents (insurance policy, passport, loan agreement), as well as an application for refund of funds under the policy, a bank certificate confirming the absence of debt or repayment of debt;
• provide the collected package of documents to the department;
• Be sure to record the date of receipt of documents (there must be a note of receipt).

If a bank employee refuses to accept documents, immediately write a complaint to management. If this does not help, contact Rospotrebnadzor or the prosecutor’s office.

Yours the main task– don’t waste time. If the documents are accepted, you will only have to wait for a decision and a refund.

Sberbank does not welcome refusal of insurance, so today the practice of partial refund of money is common for two reasons:

• the application itself is considered within 14 days;
• money is returned within a month.

Here the bank pursues the main goal - to ensure that 30 days pass, during which the amount spent is paid in full. Therefore, the positive completion of the procedure depends only on the client’s confidence and legal literacy.

Is it possible to refuse insurance for consumer loans?

It is important to know that refusal of Sberbank insurance for a consumer loan is possible, since registration of the service is voluntary for this type of lending and is not enshrined in law. The bank has no right to insist on registration insurance policy. At the same time, he is prejudiced against this category of applicants and may refuse a loan without giving reasons. The borrower himself makes a decision on this issue. But at the same time, he must understand that it is optimal to play it safe in advance and not get into a difficult financial situation. Although this procedure is not mandatory, it has its own positive sides:

• insurance policy reduces everything possible risks, which allows the lender to be loyal to the borrower and provide him with more profitable terms lending;
• the borrower will receive a guarantee that in any unforeseen situation the fulfillment of his obligations to the bank will not be affected.

Insurance when obtaining a mortgage loan

Mandatory insurance of purchased housing is an official requirement of Sberbank upon receipt home loan and justified by the legislative norms of the Russian Federation. This condition is set by all credit organizations, and the borrower will not be able to avoid it. But in addition to insuring a property, there are also some types of insurance programs that are issued only on a voluntary basis. At his own request, the client can take out the following types of insurance:

• personal – life, health and loss of legal capacity of the borrower;
• title of a house or apartment in case of loss of ownership of the loaned object.

Usually the bank does not insist on the second type of policy, but not on the first option. And often the creditor’s “strong” argument is possible failure in issuing a loan. In this case, the client must act based on his priorities, since he expects an increase in the final cost of the mortgage.

All types of insurance, in order of importance for the lender, are determined in the following order:

• housing purchased on credit is mandatory;
• life and health of the client applying for a mortgage – desirable;
• title of the property - at the request of the client.

What are the disadvantages of credit insurance?

Registration of an insurance policy upon receipt consumer loan has its negative sides. These need to be taken into account before making a decision. The main disadvantage is additional expenses for payment of insurance premiums. It is also important that the insurer will not be able to compensate for the damage in all cases. The motivation for refusal can be any factor that the insurer does not accept as evidence of the occurrence insured event. Whether to refuse insurance or not - each borrower must decide for himself, taking into account his position and his own life situation, taking into account the profitability of this decision for himself.

Conclusion

Life and health insurance is legally a voluntary service of the policyholder. And imposing this service on a credit institution when issuing a loan is illegal. Before drawing up a loan agreement, the borrower should think about how best to solve this problem and not increase the loan burden due to insurance payments.

When a person goes to the bank for cash loan, employees of a banking organization advise you to make an insurance payment. The matter is quite logical: anything can happen to the borrower. Who will return the money to the bank then? Then it is proposed to insure consumer credit. It is important to understand how to calculate the amount you will pay over the entire loan period.

A little about insurance

There is an opinion among borrowers that insurance is a waste of money. This is how banks try to extract an extra penny from the client. But banks must somehow protect themselves.

Attention! Insurance is a kind of proof of your solvency. We are primarily interested in the insurance policy banking organizations: only if it is available, the lender will be confident in the absolute return of the borrowed finances.

An insurance policy is a means of protection against unscrupulous borrowers. And this is every 3 in our country.

Agents assess the client’s solvency in their own ways and predict the person’s future financial behavior.

Important! Insurance is not a compulsory process. No one Russian bank does not have the right to refuse a loan simply because the borrower refuses to take out an insurance policy. This is the exclusive business of the client: if he does not want to insure, that is his right. Mandatory insurance is issued only when taking out a mortgage.

If you decide to take out a car loan from a bank, be prepared for the mandatory registration of a CASCO policy. In this case, everything will be legal.

A “protective” policy for consumer credit is issued directly to bank branch issuing loan.

The consumer credit insurance policy is with the borrower throughout the entire payment period.

Types of insurance policies

The bank offers to voluntarily insure oneself under several programs. What exactly to choose will be decided only by the client, since when consumer lending no mandatory insurance.

You can insure:

1. Life, health. In some companies this is a single point, in others it is divided into two - separate life, separate health. The person died and became insolvent due to disability. These cases are covered by this type of insurance. Pensioners are especially recommended to draw up such an agreement.
2. Risks of losing a job. The situation is unpleasant, but very realistic. You took out loans when you had a good job, but you have to pay them back when that same job is gone. Only here it is important to understand that if you quit your job, no insurance payment will apply to you.

Cost of consumer credit insurance.

Each bank has its own consumer loan protection program. Insurance “remuneration” is different everywhere.

• Most high percent exhibited by Sberbank. Today it is approximately 2 - 3%.
• Rosselkhozbank - 1 - 3%
• VTB 24 - 1%
• Insuring at Alfa Bank will cost 0.2% of total amount lending.
• The cheapest was Raiffeisenbank - 0.19%.

Attention! The percentage is set not by the bank, but by an insurance company cooperating with the banking organization.

It turns out the following. Taking out a loan of 200,000 from Sberbank with an insurance interest rate of 3%, then insurance payment on your part you will pay 6000.

Let's note an important thing. On average, the tariff for all banks is close to the same, amounting to 2.99%.

The situation with calculations is somewhat different if the client has chosen only one type of insurance:

• The borrower only worries about his life - the interest rate on the insurance policy is reduced to 1.99%. Let's do the math. From a loan of 200,000 rubles, your insurance will be 3,980 rubles.
• The client wants to insure life, health and the event of dismissal, but with the addition of his own conditions - the policy will cost 2.5% or more of the total loan amount.

Important! Consumer credit insurance is not a separate payment. It is included in your monthly loan payment. The exception is mortgages.

You may be asked to make a payment immediately if you are taking out an insurance policy for credit card.

The following formula for calculating the loan is obtained:

insurance = amount of the requested amount * single insurance rate (2.99% in case of choosing a full insurance package)

The insurance policy is renewed every year. The client must be informed in advance about the increase in tariffs.

Benefits of insurance liability

Insurance has a whole range of advantages:

1. By drawing up an insurance agreement, you can rest assured for your relatives - they definitely won’t have to bear the burden of paying for your debts if something happens to you.
2. In the event of an insured event, insurers will assume all obligations to repay the debt.
3. A bankrupt but insured client will not owe anything to the creditor.

The advantages of voluntary consumer lending are obvious. There is one significant disadvantage - unscrupulous insurers and credit organizations that unreasonably inflate insurance rates. In little-known organizations, insurance can reach up to 20% of the total loan amount.

Is it possible to refuse insurance?

You must notify the bank employee in advance that you are not going to overpay for the policy. When writing an application for a loan, immediately specify a waiver of voluntary insurance payment.

Attention! They impose a service on you and intimidate you into refusing to issue Money, refuse to accept the application - contact the head of the bank. The actions of his employee are illegal!

Insurance is additional service. If you couldn't resolve the issue on the spot, call hotline jar.

Refund

There are cases when a person seems to have voluntarily taken out insurance at first, but then changes his mind. In this case, you must submit an application for termination insurance contract to a bank or directly to an insurance company.

You must indicate a request to return the money previously paid.

Important! Such a statement will be valid if another 3 years have not passed since the conclusion of the contract, otherwise the court will refuse to consider the case due to the expiration of the statute of limitations.

To avoid misunderstandings with the insurer regarding the return of money, when applying for an insurance policy, carefully read the contract. If there is a clause about the impossibility of recalculation or refund of funds, you are unlikely to be able to return your finances.

If you couldn't get your money back, don't despair. You can try to file a claim for a partial refund of the paid policy.

You can use a legal trick. If the contract states that you can refuse to pay the insurance a month before the end of the loan, then you can stop paying the premium and pay only on the last payment due on the loan.

When drawing up an insurance contract, be extremely careful. Don't be fooled!

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Any borrower is familiar with the situation when Bank employee When accepting a loan application, he practically insists on drawing up an insurance contract. A credit department employee can put quite a lot of pressure, talk about the possible benefits of insurance, or threaten that financial institution will not approve your loan application. How can you figure out what insurance brings - just additional expenses or real benefits? How legal is it for banks to issue an insurance contract? In this article we will answer all questions regarding credit insurance.

When talking about “loan insurance,” borrowers most often mean its most popular type, when health and life are insured. However, in practice, there are a number of insurance contracts issued for the period of validity of the loan agreement:

• Life and health insurance of the borrower. If an accident occurs that leads to the death or loss of legal capacity of the client, the insurance company is obliged to pay the bank the balance of the loan;
• Job loss insurance has become quite popular in times of crisis. If the borrower is dismissed at the initiative of the employer (for example, in the case of staff reduction), the insurance company makes a payment;
• Insurance of collateral property (apartment, car, equipment) against loss of ownership, theft, physical loss, etc. The specific list of risks that are insured depends on the type of property, its characteristics, and the requirements of the bank.

The benefits of loan insurance are obvious: even if the borrower finds himself in a difficult financial situation and cannot repay the loan on his own, the insurance company will do it for him. Consequently, insurance is a kind of guarantee of loan repayment in any circumstances, which is especially important for long-term loans.

On the other hand, an accident may not occur at all, and insurance premiums are quite high (depending on the type of contract and its term, they can range from 0.2-0.3% to 1.5-2% of the loan amount monthly) , therefore, the desire of clients to refuse the loan insurance actively offered to them is quite understandable.

Why do banks actively “impose” loan insurance?

If the benefit of loan insurance for the borrower is quite controversial: although it gives confidence in the future, it also increases costs, then for the bank negative aspects does not exist:

• Firstly, through life insurance of the borrower or collateral credit institution significantly reduces the risk of loan default. Of course, such a loan will be much preferable to one for which insurance was not issued;
• Secondly, banks receive significant commissions from insurance companies. Moreover, they can amount to up to 30-40% of the contract amount.
• Thirdly, the bank can receive additional benefit from including insurance in the “body” of the loan. This procedure is carried out when the borrower is unable to pay the cost of insurance before drawing up a loan agreement. Essentially, the bank issues additional credit to pay strass contributions, and he himself receives income from interest on this amount.

As we can see, by drawing up an insurance contract, the bank not only reduces its risks, but also receives additional profit. It is not surprising that credit department employees practically insist on taking out insurance, even in cases where it is optional.

Read also:

Where can I get a cheap CASCO insurance? Profitable companies and ways to reduce prices.

Is it possible to refuse insurance and what are the consequences?

Many borrowers, frightened by large insurance premiums, tell banks that they are unwilling to draw up an insurance contract. However, in many cases they are confronted with the fact that in this case insurance is mandatory. The fact is that all loan insurance can be divided into several groups:

Obviously, the borrower may not refuse all types of insurance, because many of them may be the main condition for issuing a loan (at that particular bank or at most of them). Thus, it is impossible to get a mortgage without insurance of the purchased home; in most cases, banks do not issue car loans without CASCO registration. As for life insurance, it is mandatory for risk groups; in other cases, you can try to avoid insuring your health and legal capacity.

Is it always beneficial to waive loan insurance?

Bank clients for the most part believe that refusing insurance is financially beneficial - because in this case, you will not have to pay insurance premiums, but only pay the loan. However, practice shows that this is not always the case:

• Firstly, the occurrence of an insured event will lead to the fact that you will find yourself alone with your financial problems. For example, an accident will lead to loss of ability to work, but the bank will still demand payments on the loan, charging fines and penalties for forced delays.
• Secondly, the bank can indeed refuse a loan without explaining the reasons, so the borrower will not know how much the refusal of insurance influenced this decision. You should not refuse an insurance policy if the chances of getting a loan are already low (for example, if your credit history is damaged, large debts, unstable or unofficial income, absence of family with mortgage lending etc.).
• Thirdly, if a loan is issued without insurance, the bank has the right to increase the interest rate on the loan to compensate for the increased risk of non-payment. This possibility may be indicated in the tariffs for credit program or put into an automated program (for example, for express lending).

Read also:

Military mortgage in 2018 - terms of provision and main changes in 2018

If borrowers who refuse insurance take on the risk of an accident voluntarily, then in the second situation, rarely does anyone calculate the real benefits of refusal. At the same time, due to an increase in the interest rate, refusing insurance can bring both financial benefits and turn out to be equal or even more costly.

Example. Let the client apply for a non-targeted consumer loan without collateral in the amount of 100 thousand rubles for a period of 3 years (36 months) at Uralsib Bank. The insurance premium is 2.53% of the loan amount per year and is included in the loan amount (interest is also charged on it). Under these conditions the interest rate is 19%. If the client refuses insurance, the interest rate increases by 3% and will be 22%.

Calculated using loan calculator loan payments with insurance, we get that monthly payment will be 3670 rubles. For a loan without insurance, the payment will be 3,820 rubles, that is, it will be higher due to the difference in interest rates. As a result, having refused insurance, the client will pay 5,400 rubles over the term of the loan. more, and at the same time will not be insured against the risk of loss of legal capacity.

As we see, not in every bank the refusal of insurance will bring the desired benefit - on the contrary, it often leads to an increase in the monthly contribution. Therefore, before you take out a loan without insurance, you should get a payment schedule for both cases and compare which option is more profitable for you.

To take out or not to take out insurance?

If we are not talking about compulsory insurance prescribed by law or the terms of a specific program, then the borrower has the right to refuse to take out insurance. However, do not forget about possible consequences which such a decision may entail:

• Unattractive lending conditions (usually an increase in interest rates);
• Possibility of loan refusal. No matter how financiers prove the opposite, many banks include the borrower’s willingness to insure as one of the parameters of the scoring program. In case of refusal of insurance scoring decreases, reducing the chances of a positive decision. If for customers with good reputation, stable financial situation and positive credit history Although such a change in assessment is not critical, for more problematic clients it may be decisive.
• Actually, the risk of loss of legal capacity, property and inability to receive insurance payment.

It is up to the borrower to decide whether or not to take out insurance. You should not give in to the persuasion of bank employees; it is better to independently weigh all the pros and cons and make an informed decision.

• If you take out a loan in a large amount for a long period of time, it is better not to skimp and still take out insurance, since the likelihood of an insured event occurring within 10 or 20 years is quite high;
• If you want to refuse insurance, find out the bank’s conditions for both situations and compare with each other to choose a more advantageous offer;
• If we're talking about about a credit card, trade loan or a small amount of non-targeted loan, insurance, as a rule, does not bring benefits, but only increases costs. This is especially true for programs with a clearly fixed loan rate and a short term.

The reluctance of many borrowers to enter into an insurance agreement along with a credit agreement is quite understandable. After all, this increases the amount of debt, and therefore the monthly payments.

On the other hand, the conditions of various types insurance may already be included in the standard loan agreement. How legal are such bank actions? That is, consumer credit insurance is mandatory or not?

All types of insurance are divided into two large groups: compulsory and voluntary. At the same time, types of compulsory insurance are established at the level of federal laws.

In practice, the refusal voluntary insurance often leads to the fact that the loan will not be issued. Of course, a different reason will be given, but the result will still be negative.

Or such a borrower will be offered other, less favorable conditions for him. You can prove your case in court, but not everyone decides to do this.

In total, there are two cases when insurance is mandatory when concluding a loan agreement:

• insurance of real estate pledged under a mortgage agreement against loss and damage;
• with a car loan.

Since, unlike those countries where credit insurance has existed for a long time, banks in Russia are more interested in returning their funds, they offer their clients various bonuses for concluding an insurance contract.

These include:

• lower interest rate;
• less an initial fee etc.

The legislative framework

There is no law with this name. Rules concerning credit relations and the rules for insuring risks associated with them are located in several regulations. For convenience, let's look at which ones.

General provisions on credit and insurance agreements are contained in the Civil Code. Thus, it directly states that cases of compulsory insurance must be established by law.

The Mortgage Law in the same article stipulates the right of the borrower and the bank to insure liability for loan failure and the risk of such an event. However, legislators do not insist that such insurance is mandatory. It is possible to refuse this type of insurance.

The bank’s desire to include insurance provisions in the terms of the loan agreement is connected not only with an attempt to protect itself from financial losses.

The conclusion of such an agreement also brings him a bonus from the partner insurance company. Moreover, employees are tasked with providing as much credit insurance as possible.

But in this situation, the interests of the borrower are protected as a consumer of services. The relevant law () directly prohibits the possibility of receiving one service - cash loan, compulsory insurance any risks not specified as mandatory for insurance.

In order not to violate the provisions of the law, many banks include in the loan agreement a clause on the client’s ability to refuse additional insurance.

Or, in agreement with the bank, you can choose another insurance company if you still want to protect yourself from possible unpleasant surprises.

What risks might there be?

The risks that are insured when concluding a loan agreement are different. Although they can be included in a single comprehensive insurance contract. Let's consider them in more detail, depending on the type of insurance.

1. Borrower's personal insurance. When an insured event occurs, the insurance company undertakes to pay the debt to the bank. Here the list of risks is quite short:
   • death that occurred for a number of reasons;
   • permanent loss of ability to work with assignment of disability;
   • temporary loss of ability to work, excluding the ability to earn income and pay the loan.
2. Insurance of the borrower against job loss. Quite relevant during periods economic downturn when the chances of being left without a main source of income are very high. But even here the list of risks is limited. The insurer will repay the debt to the bank only if the borrower loses his job as a result of:
   • liquidation of the employer;
   • bankruptcy;
   • reduction in the number or staff of employees.
3. Insurance of property pledged. As already mentioned, this type of insurance is mandatory and regulated by law. Movable (car, complex equipment, etc.) and immovable (apartment, commercial real estate, land plot) property is insured:
   • from loss (physical disappearance);
   • from damage caused by a number of reasons.
4. When an insured event occurs, the first step is to determine whether the borrower was involved in its occurrence. And if it is not his fault in what happened, then the insurance company, depending on the specific situation or terms of the contract, can:
   • cover losses incurred by the borrower;
   • pay off the balance of the debt to the bank.
5. Borrower liability insurance for loan non-repayment. This type is used for long-term mortgage loans. The insurance company pays the balance of the debt under the contract if the funds received by the bank from the sale of the mortgaged property at auction are not enough to pay it off. The borrower is relieved of the need to pay this difference on his own.

Features of the agreement

The loan insurance agreement is, for the most part, comprehensive, including conditions such as personal insurance, and liability or property insurance. However, these subtleties are more important for a lawyer.

The borrower should know the following about the features of such an agreement:

• the insurance amount increases the loan amount, sometimes up to 10%;
• The monthly payment also includes the insurance premium;
• payment allows you to cover up to 90% of the debt to the bank;
• Some insurances are concluded once, while others are renewed annually.

Annual renewal concerns mandatory types insurance. Unlike voluntary insurance, refusal to renew such insurance can have very unpleasant consequences. In this case, the bank has the right to demand the return of the entire remaining amount ahead of schedule.

With voluntary insurance, refusal to renew the contract may result in an increase in the interest rate for using the loan.

After all, for the bank, the risk that the debt will not be repaid increases. And he is trying to minimize his losses in this situation.

How to terminate it

To begin with, you don’t have to enter into an insurance contract unless the law insists on it. But, as already mentioned, sometimes it is not possible to get a loan without a “voluntary” insurance contract.

Or the bank takes advantage of the client’s legal ignorance and he signs an agreement with insurance included, which is called “without reading”.

In both cases, the insurance contract can be terminated after its conclusion. This opportunity is provided by Art. 958 Civil Code, which says that this can be done at any time at the request of the policyholder.

To do this, you should contact the bank with an application, which must be reviewed within 30 days. It is very likely that bank employees will not want to accept such a document, but the law is on the side of the borrower, so they will be obliged to do so.

It is worth remembering that in the same article of the Civil Code of the Russian Federation there is one more condition regarding the insurance premium. The amount already paid under the contract is non-refundable.

Unless this is provided for in the contract. But, most likely, the bank foresaw this possibility and included the corresponding clause in the agreement.

If the bank refuses to terminate the imposed insurance contract, then the borrower has two options:

Loan insurance against job loss

This type of voluntary insurance is offered when concluding a wide variety of loan agreements. Like any type of insurance, it increases the amount of debt, but allows you to solve financial difficulties at the expense of insurance payments, if such a need arises. Therefore, before you refuse, it is worth weighing all the pros and cons of these additional costs.

The essence of this insurance is that if the main source of income is lost, the borrower will, over a certain period of time, receive from the insurance company an amount to repay the loan debt.

This period is not so long, no more than a year, and the amount does not exceed the monthly loan installment. But thanks to such payments, the borrower is freed from the need to look for funds to pay the bank and can calmly search for a job.

It should be remembered that not every reason for dismissal is an insured event. Proof of the occurrence of an insured event will be an entry in the work book, which will indicate exactly these grounds for termination of the employment relationship.

As a rule, the contract provides for those grounds in which there is no fault of the employee himself:

• liquidation of the employer;
• staff reduction;
• change of owner of the organization (only for those who can be dismissed on this basis);
• termination of the contract due to objective circumstances (joining the army, reinstatement of a previously dismissed employee, etc.)

You should not count on paying the insurance amount to those who were fired for reasons such as:

• agreement of the parties;
• at your own request;
• as a disciplinary sanction;
• lost the ability to work as a result of his own guilty actions (health violations, intoxication, crime, etc.)

If a borrower entitled to receive an insurance payment finds a new job within a specified period of time, then he ceases to receive funds from the insurer.

The same applies to those who are registered as unemployed and receive benefits. In these cases, they will have a source of income that will allow them to resume paying for the loan on their own.

Consumer loans

On the question of whether consumer credit insurance will be mandatory or not, banks take different positions. On the one hand, it is in this sector that the percentage of non-repayable debts is high.

On the other hand, an increase in the loan size by the amount of the insurance premium may force some clients to abandon the bank’s services.

Therefore, some banks have taken the path of minimizing their financial risks by setting a high interest rate.

It turns out that conscientious borrowers also pay for those who cannot or do not want to repay the debt. But then - no insurance, except for mandatory ones.

Other banks include a requirement to insure certain risks as part of the conditions for obtaining a loan from their organization. But on the other hand, they establish more attractive conditions for those who have concluded an insurance contract. This attracts those who consider insurance necessary.

As a rule, when issuing a short-term consumer loan, a bank insists on the following types insurance:

• life;
• from loss of ability to work;
• from job loss.

But, as already mentioned, these types of insurance are voluntary. Therefore, you can always refuse to enter into an insurance contract. Banks do not have the right to impose this service, but they can increase the rate, already insuring themselves against possible loss this amount.

Where can I apply?

Services for all types of insurance are provided by those organizations that have permission to do so - Insurance companies. As a rule, when concluding a loan agreement, the bank will offer to use the services of its insurance partner.

This option does not always turn out to be the most profitable, but since banks prefer to insure their risks with reliable players in this market, their choice can be trusted.

Before choosing, it is better to familiarize yourself with the conditions offered by various insurance companies.

Often issue complex agreement turns out to be cheaper than insuring risks separately. Or is there an opportunity to save money, even if a small amount. Insurers offer various bonuses to attract as many clients as possible.

VTB 24

Let's consider the subtleties credit insurance on specific example. VTB 24 Bank is currently one of the largest players in the credit market. Offering to our clients consumer loans, he also invites them to join one of their insurance programs.

The advantages of such a connection are:

• no need for introduction additional documents and contacts with the insurance company;
• obtaining insurance simultaneously with the loan;
• the ability to pay for insurance either in one lump sum or in installments;
• single tariff for clients of any age and profession.

Among the risks, the consequences of which are proposed to be minimized, are the following:

• death of the borrower;
• loss of ability to work (permanent or temporary);
• injuries and long-term hospitalization;
• dismissal from work.

Two programs offer to insure three of the proposed risks: the choice will be between job loss and injury. In this case, not three separate agreements are concluded, but one complex one. The bank undertakes all contacts with the insurance company.

How to return after paying off the loan

Both the loan agreement and the insurance agreement are concluded on certain period. But sometimes the borrower has the opportunity to repay the loan ahead of schedule.

If such a condition is contained in the contract, then the debt is repaid to mutual satisfaction. But the validity of the insurance continues, although it is no longer needed.

In some cases, you can get back the amount paid for insurance, or at least part of it. To understand whether this can be done, you must carefully read the relevant terms of the contract.

If the conditions for the return of the insurance premium in case early repayment there is no loan, then it is pointless to demand it, since in this case the bank will refer to the provisions of the Civil Code on the non-refund of the paid premium.

If the bank is ready to return the insurance, then you need to contact it with a corresponding application. After reviewing the requirements, the bank will return that part insurance premium which was overpaid. Or in full if the debt was repaid in a very short time.

You can also get your insurance back through the courts. You just have to prove that this service was presented without the consent of the borrower. If the court considers the bank’s actions to violate the law, it will oblige it to return the money received in full.

Credit insurance is beneficial to both parties in this relationship. And the bank has the right to insist on protecting itself from financial losses if it is impossible to repay the loan. But it is still up to the borrower to decide whether there is a need to use this form of protecting their interests.

Video: Credit insurance

Mortgage loan issued against collateral real estate, assumes a long repayment period: from 5 to 30 years. And the bank that issued it quite rightly wants to protect itself from possible financial losses that may result from various circumstances. Mortgage insurance serves exactly this purpose.

What is this...

Potential borrowers often, when choosing a bank to apply for a mortgage loan, usually fail to pay attention to the insurance conditions under which it is issued. They are mainly interested in the image of the bank, the interest rate, the requirements imposed on the borrower, and the length of the loan term. According to the terms of insurance...