During the loan process banking organizations may resort to various methods to include a package in insurance additional services. As a result of these actions, early repayment borrowers face many problems associated with the inability to return insurance funds.
Often a refusal to pay an insurance premium that was paid for the entire period of validity loan agreement, is illegal, as a result of which the borrower has to defend his rights directly in a judicial organization.
The insurance contract provides for the protection of the bank against cases when the borrower cannot return the borrowed funds. Thus, credit insurance protects, first of all, the interests of the bank, which is why this service may be included in the package of additional services that are announced as mandatory when applying for a loan.
Insurance under the contract is a service, which is concluded at the stage of processing the main cash loan. At the same time, the insurance policy involves the payment of certain funds, which can be carried out together with the main monthly payments, as well as the repayment of the main payment.
After the termination of the loan payment, it is necessary to try to return at least part of the premium paid directly to the insurer. In case of early repayment of the loan, you must contact the main insurance company with the following package of documents:
In this case, this documentation must be addressed directly to the insurance company.
For a partial refund of insurance funds, borrowers can use two methods:
In case of early repayment of the loan, in order to terminate the main insurance contract, you must contact the bank or directly to the insurance company. At the same time, it is necessary to keep all the documentation, including the refusals of banks and the insurance company - all this can be useful for the implementation of a positive decision in court.
The insurance return process involves the preliminary collection of important documents that will be needed to complete the application for copies. To contact the insurance company, you will need the following package of documents:
Sometimes banks during the procedure for applying for a loan inform that there is a special loan insurance program provided for by the bank itself. credit institution. That is, when applying for insurance does not participate Insurance Company, and the service is officially considered a commission payment directly to the bank.
Thus, the borrower most likely will not be able to appeal in court for the return of insurance, because he himself voluntarily agreed under the contract to additional commission deductions to the bank, which were called insurance premiums on the loan during registration. But in any case, you can try to solve the problem in court, as well as seek help from various legal organizations and solve the problem of at least a partial refund of the commission.
You can always return part of the insurance premiums by contacting highly qualified specialists in this field. There are non-profit institutions that can protect the rights of credit consumers who find themselves in the conditions of imposing an insurance service on a mandatory basis.
These institutions can provide a wide range of services and are official representatives in solving various issues of obtaining compensation upon full repayment of the loan.
When applying to a banking organization on your own, some difficulties arise in which the bank refuses to pay the insurance part of the premium. At the same time, today there are free organizations that provide legal services for the return of insurance payments when repaying a loan.
Qualified specialists of these institutions have a fairly significant regular practice, which confirms the experience in resolving various situations in a banking organization. Assistance to borrowers is carried out in each region, and often the court decision remains on the side of the borrower and he receives part of the premium on the insurance premium.
At the same time, all payments imposed by the bank under the terms of the loan agreement are returned, the clauses of which contain the possibility of returning funds for insurance.
Highly qualified lawyers will advise the client as a whole required list documentation required at each stage of the refund procedure. Reliable experts allow you to make high-quality claims that are submitted directly to financial institutions. Specialists will advise the client on the preparation statement of claim, which will help resolve the issue of the return of insurance. At the same time, the client can be released from direct participation in the judicial resolution process if he writes an appropriate power of attorney on entity, which has the right to represent the interests of the borrower at the meeting.
VTB 24 uses its own insurance program. This program includes certain rules, thanks to which the borrower can terminate the contract at any time, while the return of insurance funds paid out is not possible.
The insurance company allows you to return the amount paid to customers only if you apply within 5 working days after the direct execution of the insurance contract. Also, since 2016, a law has come into force, which provides for the possibility to refuse all insurance imposed by the bank.
This provision applies directly to all agreements concluded by VTB24. But the bank provided for some nuances - if the client signs an agreement for participation in collective insurance, the insurance may not be returned.
The conditions for the return of funds under the insurance procedure of the Renaissance banking organization are almost identical. Notice of termination insurance contract can be filed if there are no risks of insured events. The insurance premium can be partially refunded in accordance with the contract, while the program is also valid for early repayment of the loan. Any refusal of the bank can be challenged in judicial order, referring to the loan agreement, if it contains the appropriate wording.
From the point of view of the law, if the offensive insured event impossible (since you repaid the loan, then there are no risks), the contract with the servicing insurance company terminates earlier than the period established by the policy.
When obtaining a loan, depending on its type, various types of insurance can be issued. They can be mandatory and voluntary, and apply to the borrower's liability to the bank, as well as collateral (acquired on a loan) property.
Mandatory types include:
The following types of insurance are considered compulsory:
For all optional types of insurance, insurance can be returned, not only after early repayment, but also completely in the process of repaying the loan.
The company that issued the policy is entitled to a portion of the funds in proportion to the actual term of the loan agreement (during which you repaid the debt), and the insured person to the amount distributed over the remaining period of the policy. In this case, the returned funds are not taxed.
When assessing how much you can return, the cost of one day of insurance is initially calculated. It is multiplied by the number of days remaining from the date of application for termination of the insurance service. From this amount, the insurance company can withhold compensation already paid to you for insured events that have occurred, as well as a service fee, which can reach 30%.
Example: You took out a loan for 1000 days and the cost of insurance for it was 200,000 rubles. The price of one day of insurance is 200 rubles. You repaid the loan and applied for compensation after 600 days. During the period of repayment of the debt to the bank, the IC paid 50,000 rubles for an insured event. In this case, the maintenance of insurance is 20%. In this case, you will receive: ((200*400)-50000)*80/100=24000 rubles.
In real practice, things can be much more complicated. So, for example, when providing a loan, Sberbank offers to conclude an agreement voluntary insurance, which is collective. In this case, the bank acts as an intermediary, charging you an additional commission. This agreement stipulates the possible return by the bank of insurance in case of early repayment of the loan, the amount of which is calculated not from the total cost of insurance, but only from 57.5% of this amount.
The return of insurance upon early repayment of the loan may be rejected if the clause refuting such a possibility is specified in the agreement concluded with the UK or the bank. The presence of such a clause is not a violation of rights, and therefore it is important not only to study the contract even before the start of the debt repayment procedure, but also to pay attention to this condition at the time of its conclusion.
It is important to know that the UK itself may refuse to pay, based on the fact that the contract does not contain a clause describing the possibility of a refund. This provision is also provided for by law, but it is very easily challenged in court. Therefore, such an answer by the IC is more likely just a trick aimed at making you give up your claims for compensation.
It is impossible to return the insurance if during its validity period an insured event occurred with full payment to the injured party of the insurance premium stipulated by the policy.
In addition to the insurance contract itself, before starting the complex return procedure, you need to read the insurance rules that your insurance company provides. If you were not provided with them when applying for a policy, you can make a request to the insurer or bank, as well as search on the Internet or on the official website of the insurer. Carefully study all the points regarding the conditions under which the contract can be terminated, especially the points related to questions early return loan.
In most cases, especially if the insurance was carried out by the bank as a representative of the UK, an application for a refund is submitted to the bank along with an application for early repayment of your loan. It should contain a justification for the return of funds and the method of receiving payment (number bank account). When the bank withdraws its authority, you must contact the UK directly. At the same time, it is very important not to terminate the contract with the insured prematurely, since this may remove the obligation to return from him.
The following documents must be submitted along with the application:
The deadline for submitting an application should not exceed the date of termination of the contract with the UK. Therefore, it is better to apply as early as possible (up to 30 days). The terms for the return of funds by the insurer, according to the rules, should not exceed 10 days, but in practice this is rarely observed and can last up to several weeks.
To avoid payments, the UK may deliberately not accept the application and delay the decision. In this case, the surest way to have time to submit an application on time is to send documents by valuable letter with a return receipt notification, which will become a strong argument in court. To speed up the movement of the case, before bringing it to court, sending a complaint against the organization to the Central Bank of Russia will help. If there is no reaction, an application is submitted to the court at the choice of the applicant - at the place of residence or the loan.
Thus, the answer to a rather complicated question, whether insurance is returned upon early repayment of a loan, depends on many independent factors. Some people manage to do it as soon as possible, simply by writing a statement, while others, having calculated the possible amount of compensation, refuse this idea, not wanting to waste time and effort on litigation.
Insurance when applying for a mortgage loan is perhaps the main condition for obtaining a loan for a client of a banking organization. Sometimes banks offer the execution of any one insurance - mortgage, life and health or title, and sometimes a comprehensive option. When concluding an insurance contract, individual citizens are given the opportunity to issue a return of mortgage insurance, however, the availability of this right depends on the insurance organization and the banking institution in which the borrower is registered.
Mortgage lending involves the conclusion of an insurance contract in case of unforeseen circumstances for the immediate repayment of the debt of the insured person to the bank, but sometimes you can return the money for insurance in full or in part.
When concluding a mortgage agreement, several types of insurance are assumed:
The possibility of returning money transfers should be indicated in mortgage and insurance agreements, therefore, the absence of this clause actually deprives citizens of the right to demand the return of their own funds for services not rendered.
Return of insurance for a mortgage is possible upon conclusion of the following types of agreements:
| Name | Subject | Reason for compensation | Capabilities | How is the refund amount determined? |
| property | Real estate purchased as collateral, however, compensation is taken into account only for actual damage to the structure of housing or for its destruction. Causing damage to decoration and repair is not provided. | Destruction of a dwelling due to floods, natural disasters, fire, explosion, etc. | It is possible to return the money paid, but only in case of early repayment of the loan, refusal of the services provided, if they were imposed. | It is set individually, but in case of early repayment it is no more than 50%, and in case of a complete refusal after the conclusion of the agreement in full. |
| In accordance with the Federal Law "On Mortgage" this insurance program may be mandatory for the conclusion of the agreement and then the return of mortgage insurance is not possible if the loan is not repaid ahead of schedule. | ||||
| Life and health | The life and health of the borrower in case of unforeseen death or disability. | The intentional murder of the borrower, death in an accident, death by negligence, etc., or getting a disability as a result of work, an accident, etc., is assumed, but only if the disability was not obtained as a result of a crime or offense. | You can return at any time using the warranty. | It is returned in proportion to the action - in full or in part. |
| Title | The right to acquired real estate in case of its loss. | The emergence of third-party rights to real estate. | It is carried out at any time during the validity of the agreement, however, it is recommended to use it until the loan is fully repaid or within three years from the date of the loan, if the apartment was purchased on the secondary market from the heir or donee. | Depending on the period of use. |
Banking and insurance organizations do not have the right to impose this or that package of services, with the exception of obtaining a loan with compulsory property insurance. It is noted that the borrower has the right to involve a lawyer on his part and change some terms of the contract, but this practice is practically not found.
When applying for a mortgage on an apartment, housing remains as a bank collateral, supported by insurance contracts, but is it possible to return insurance, as a rule, neither the bank nor insurance organization does not report.
The procedure for returning mortgage insurance depends entirely on the type of contract drawn up, therefore, if such questions arise, the first thing to do is to familiarize yourself with the terms of the agreement and the possibility of claiming the funds paid back.
Insurance for the payment of a mortgage is not returned as planned, therefore, it is possible to return the insurance after the mortgage is repaid only if the payment was made ahead of schedule. The absence of the occurrence of insured circumstances does not mean the absence of fulfillment of obligations by insurers, so you can forget about the money paid.
If you repay the loan before the expiration date of the mortgage agreement, then the borrower is returned part of the insurance in case of early repayment of the mortgage. The amount of deductions depends on how early all debts were paid.
If a housing loan was issued for 20 years and repaid within 10, while the contribution to the insurance company amounted to 150,000 rubles, then the borrower has the right to count on half of the amount paid, i.e. - 75,000, since the company's services have been provided over the past decade.
To process the return of funds, it is enough to contact the insurance company with the appropriate application and attach documents from the bank on the full repayment of the loan.
Upon the death of the debtor, his relatives are obliged to inform the banking organization and the insurance company about it. If death is recognized as an insured event, with life and health insurance issued, then the debt to the bank will be closed. Returns are not allowed.
In the absence of life and health insurance for the mortgage holder, all obligations to make payments to pay for the mortgage are transferred to the heirs, as well as obtaining a policy, the funds paid by the borrower to repay the loan are taken into account in full. The term for the assignment of payments and the validity of guarantees are suspended until the moment of entry into the inheritance rights.
You can return the money for insurance if for some reason it does not suit the new owners - the amount is returned proportional to the unused guarantee period.
For a partial refund, you must:
Within the set time, the money will be transferred to the account of the borrower's heir.
When refinancing, it is important to understand not only the process of renewing the contract, but also how to return insurance on a mortgage loan taken earlier.
There are several options for borrowers:
Refinancing without property insurance impossible, since the property remains pledged to the bank as a guarantor of payments, and insurance is a way to receive funds issued to the borrower in case of unforeseen circumstances and loss of property.
To make a return, you must:
The return can be made in parallel with the execution of a new mortgage loan.
Refusal of services of the insurer in unilaterally possible if the services were imposed on the client specifically.
Funds can be returned in full or in part, depending on the circumstances.
To refuse an imposed service, a citizen must:
Imposed services within Russian legislation are recognized as invalid, however, it is almost impossible to determine the degree of their imposition, therefore, part of the amount is likely to go to the insurance.
If the insurance contract contains a clause on the possible return of funds paid to the organization, then usually there are no questions. At the same time, there are situations when an unmotivated and unreasonable refusal comes.
In this case, the citizen must:
You can also indicate the reason why you need to make a return, sometimes companies meet customers and return the money, even if there is no such clause in the contract.
The accompanying documents that must be attached in the event of a refund for insurance include:
Sberbank is the largest banking organization in the country, so it is best to consider ways to return funds using this example.
There are some features of the return depending on the terms of treatment:
The return of insurance after the payment of the mortgage in advance is carried out as follows:
In case of an unreasonable refusal, you must contact Sberbank and the insurance company for clarification. After receiving a written response from the institutions, you can apply to the court, the prosecutor's office and Rospotrebnadzor if the terms of the contract are really violated.
Reimbursement of insurance money is a long and complicated process, as most of the stakeholders prevent it. Not a single insurance company and not a single bank is interested in returning funds to a borrower without good reason.
If you need help getting your mortgage insurance money back or are interested in insurance, we recommend that you sign up for free consultation to our lawyer in a special form. We will definitely help.
We are waiting for your questions and ask you to evaluate the article.
Client it is important to take care of property insurance. This service is mandatory for many banking structures wishing to reduce the significant financial risks associated with possible non-payment of mortgage lending. At the same time, many clients are interested in the question of whether it is possible to make an additional return of mortgage insurance and how it can be issued. This article will discuss the main nuances of returning mortgage insurance, as well as the standard documentation that a borrower will need to return.
It is worth noting that there are special legislative norms, according to which each borrower can return credit insurance. All this depends on the timing of the conclusion of a general agreement with the insurance company chosen by the borrower, as well as the presence of an insured event. During the first month after the conclusion of the mortgage agreement, the future borrower can cancel the individual insurance policy and issue a special refund. Moreover, if the contract is concluded, but has not yet entered into force, the amount intended for insurance can be returned in full. If the contract has already been concluded, the procedure for returning the insurance may take up to 3 months. In this case, the borrower, most likely, will be able to return only 50% of the amount paid.
In some cases, an agreement may be personal insurance as well as a collective agreement. It should be noted that according to the legislation in 2016 it became possible to return general part insurance within 5 days from the date of signing the mortgage agreement. If this period has expired, it is necessary to familiarize yourself with the terms of the contract, which sets out the detailed conditions for the operation of the insurance program. In standard cases, companies can return up to 70% of the funds for the entire unused period. But this system operates on the condition that mortgage fully repaid and no insured events occurred in the process of making payments.
Also, the borrower can return the insurance payments made at the time of the loan, but the bank can significantly increase the mortgage rate.
If the borrower wants to receive reimbursement for insurance, he must first collect the official package of documents and visit the company's office. When applying in person, a special application is drawn up, on the basis of which the borrower can refuse mortgage insurance services. It is worth noting that the procedure for issuing a return can be carried out only after the direct removal of the encumbrance from the mortgage apartment.
To write an appropriate application to the insurance organization, the borrower will additionally need to collect a standard package of documents:
All this must be submitted to the insurance company, the name of which is written in the contract for the provision of insurance services.
After the personal package of documents has been collected, it must be submitted to financial institution, while it is additionally important to write an individual application for the return of insurance. An application filled in by the client can be sent directly to the insurance company, as well as to a credit institution if the insurance was carried out by the financial institution itself. It is necessary to document the name of the bank that issued the loan, as well as the date of conclusion of the main mortgage agreement. The application must clearly indicate the reason for the total return of the awarded insurance premium ( this conclusion written for early payment of the mortgage).
In any case, it is worth using a standard application, which contains all the necessary official data. The form must be downloaded on the official website of the institution where the loan was issued, or on the website of the insurance company. It is worth noting that the application will be considered within 10 days, after the expiration of this period the borrower will be provided with full information about the status of acceptance of the application.
It is important for the borrower to contact the insurance company in time to receive a special payment.
Step 2 involves two options:
It is necessary to draw up an official claim with a mandatory reference to the Civil Code of the Russian Federation No. 958, while it is important to ensure that this paper is necessarily registered in the incoming documentation of the organization. According to practice, more than 80% of cases of insurance court hearings come down to the fact that the court takes the side of the borrower.
When concluding an initial contract with an insurance company, you need to be careful - many organizations indicate in small print the provisions according to which they are not responsible for complex reimbursement total amount under the policy of the insurer. Also, when carrying out the procedure for returning insurance, you must carefully fill out the application and download it only on the official website of the company that issued the insurance. It is important to register all documentation received at the address of the insurance company - forms of any applications and documentary reporting will be required when submitting a claim to the court.
The borrower should always remember that the life insurance procedure is voluntary - none of banking institutions has no right to impose this service. But at the same time, one should not forget that this insurance, in the event of an insured event, can significantly protect the client and the bank from significant financial losses. Thus, the client independently decides whether to purchase this insurance or previously refuse it at the stage of obtaining a loan.
If the mortgage loan was closed by the borrower ahead of schedule, he has the right to return cash under insurance for the unused period. To do this, you must write an application directly to a banking organization or contact an insurance company. At the same time, it is important to re-read all the clauses of the insurance contract, since different organizations can provide individual conditions for the return of insurance.
It is also important to prepare a preliminary certificate containing an extract stating that the mortgage loan has been fully repaid. Only together with a certificate and a corresponding application, the borrower can apply to the representative office of the insurance company for consideration of the application. It is worth noting that all documentation can be analyzed and checked in detail within 30 days, after this time the company makes a decision - most often the insurance organization agrees to a refund, which are transferred to the client's personal account, the details of which are indicated in the application. If the parties disagree, the borrower always has the right to apply to the courts to confirm their rights to insurance payments.
You should read the contract carefully - in some cases, life insurance is a prerequisite for granting a mortgage.
When applying for a mortgage loan, many banking organizations can impose insurance services without client consent. In this case, you can always return the money for pre-imposed insurance. The insurance contract will be considered invalid - since all actions for obtaining insurance can be carried out only in voluntary. The borrower within 5 days can submit an appropriate application for termination of imposed insurance - as a rule, the insurance organization agrees to make payments. If the company disagrees, you can go to court, having previously collected a full package of all supporting documents.
Credit insurance minimizes the risks of both the bank and the borrower. But it is not always obligatory, and you can refuse the service after the conclusion of the contract.
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How is credit insurance returned in 2020, what nuances do you need to know about? With almost any type of lending, the bank offers to take out insurance.
Clients, fearing refusal to lend, agree. But not all borrowers are aware of the possibility of waiving insurance. Is it possible to return in 2020 insurance premiums and how to do it right?
It is quite easy to cancel the insurance service even when applying. You just need to inform the bank employee about your unwillingness to take out insurance.
But for the borrower, such a decision can have negative consequences. The most common scenarios for the development of the situation:
| Denial of credit | The bank often refuses to approve a loan application precisely because of the lack of an insurance policy. By law, the imposition of insurance is prohibited. The only exceptions are those for which insurance is mandatory. But at the same time, the bank is not obliged to state the reason for the refusal. In the absence of other weighty arguments for a positive decision, insurance becomes a decisive factor |
| Significant increase in interest rate | Some banks offer loan products with and without insurance. In the latter case, the loan rate may be higher by 5-10 points. Clients are frightened by the increase in the cost of the loan and they take out insurance. In practice, credit increased rate may be cheaper than the cost of insurance |
| Tighter credit conditions | The bank can insist on taking out insurance not only by raising the rate, but also by reducing credit limit, increase/decrease duration credit period, collateral requirement |
The bank benefits from customer insurance. It minimizes the risks of non-repayment, and sometimes brings additional financial (when insured by the bank itself).
Therefore, the client will be "pushed" to conclude an insurance contract by all possible means. However, the law does not prohibit termination after signing.
After receiving a loan, you can refuse insurance (if it is not mandatory) and return the funds spent. True, the amount of the refund is determined by the moment of treatment and the conditions of insurance.
Credit insurance can be voluntary and mandatory. Voluntary insurance options include: insurance risks, how:
The general meaning of insurance is that if for some reason the client cannot repay the loan, then the insurance company will do it for him. So the bank is protected from irrevocable.
The borrower himself can be sure that in the event of an insured risk, the bank will not go to court and the collection will not be levied on the property.
With voluntary insurance, the client can choose which risks to include in the insurance. Compulsory insurance required when applying for a mortgage and.
In this case, there is a pledge of property in favor of the bank. Since the bank must be sure that nothing will happen to the collateral object before the final payment of the loan, it has the right to demand insurance.
The insured event is the risk of loss or damage to the collateral. Other types of insurance are issued at the request of the client.
Cancellation of insurance involves termination of the insurance contract. But you need to know in what cases you can refuse insurance, and under what conditions.
Cancellation of insurance is possible only with voluntary insurance. In this case, several options for refusal are possible:
| Cancellation of insurance within 5 days after signing the contract | According to the Instruction of the Central Bank of the Russian Federation No. 3854, it is possible to refuse the insurance imposed by the bank during the “cooling off period”. In this case, the full sum insured must be returned, if the insured event has not occurred. Unfortunately, the five-day cancellation period does not apply to collective insurance programs. In such a case, the possibility of refusal is regulated by the internal rules of the bank. |
| Throughout the loan period | You can opt out of voluntary insurance at any time. But the possibility of a refund will depend solely on the conditions specified in the contract. |
| Upon expiration of the loan agreement | This refers to the situation when the duration of insurance exceeds the period of repayment of the loan. Similarly, the possibility of returning funds depends on the agreements reached and fixed at the conclusion of the contract. |
When credit insurance is mandatory, cancellation of insurance is possible only after the completion of the loan repayment.
According to this rule, the possibility of a return depends solely on the insurer, if the condition on the possibility of a return is not specified in the contract.
In case of early repayment, the borrower often has to prove his innocence in court. In this case, you can refer to the fact that the loan and insurance contracts are related, respectively, insurance should be terminated along with the payment of the loan, including early.
Since insurance risks disappear after the loan agreement is closed, the termination of the insurance agreement is regulated by Article 958 (paragraph 1, clause 2). `
However, the decision on the refund and the amount to be refunded depends on the content of the contract.
When planning the return of insurance on a loan, you first need to find out some points:
If the insurance contract is concluded individually with the insurance company, then the application for cancellation must be submitted within two weeks after signing the contract.
When there is a collective insurance program, the application period for refusal is set by the bank.
The application must be submitted directly to the insurer. If the terms of application are not met, then part of the sum insured may be withheld for the period of validity.
In addition, the terms of the contract may directly indicate that insurance premiums are non-refundable (in case of refusal after the cooling period).
An application for the return of insurance on a loan is drawn up in a free form (the UK may have a ready-made form). The content of the document states:
The application must be made in two copies. One of them must remain with the applicant with a mark of acceptance of the appeal.
Copies of contracts must be attached to the application. An application form for the return of loan insurance is possible.
If you apply during the cooling period, refunds must be made within ten days. If the insurer delays payment, then you should file a complaint with Rospotrebnadzor.
The amount of the returned funds will depend on the date of commencement of the insurance contract, prescribed in the content. If the contract has not yet entered into force, then the entire amount must be returned.
When an application is submitted a few days after the entry into force of the contract, the insurer has the right to withhold a certain amount for these days.
Usually this is an insignificant part of the funds, it is not advisable to argue about it. But all of the above applies to individual insurance contracts.
Many big banks insure clients under a collective program and return conditions can vary greatly.
When insurance is issued under a collective program, the client signs not an insurance contract, but an agreement on accession.
The terms of the contract may indicate that the sum insured is returned minus certain expenses - this is quite legal.
If CASCO insurance was issued in, then there may be nothing to return. This point is also worth considering.
In addition, if insurance premium is paid in installments and will not be paid at the appointed time, the insurance company has the right to terminate the contract on its own.
