There is a question that worries potential borrowers, is life insurance mandatory for a mortgage at Sberbank in 2020? After all, such a clause is spelled out in a loan agreement for a mortgage with state support.
A preferential rate for a mortgage is valid only on the condition that the borrower necessarily insures his life and health. Otherwise, the bank has the right to increase credit rate by 1%.
First, let's figure out whether it is necessary to insure life at all in order to get mortgage? After all, many banks insist on such insurance. Are their claims legal? Who needs it more: the bank or the borrower?
Personal insurance covers a whole group of risks:
If the borrower has difficulty repaying the loan for one of the above reasons, the insurance company will pay off the resulting debt for him. These funds are received by the bank. But the credit institution can send part of the money to the borrower so that he pays for the treatment, rather returns to workplace and resumed payments.
Thus, insurance for the lender reduces the risk of non-payment of the debt. And the borrower is guaranteed that in the event of adverse circumstances, the burden of repaying the loan will not fall on his relatives. And even in case of loss of health or temporary loss of work, he will be able to pay off part of the debt with the help of insurance. Given that the loan is given for up to 30 years, the occurrence of an insured event does not seem to be something absolutely impossible.
In Sberbank managers also sometimes insist that life insurance is mandatory with a mortgage. But borrowers are often not concerned about the question itself, to insure or not to insure life. After all, in last years personal insurance is no longer perceived as something completely unnecessary. Especially when it gives you the opportunity to profitable terms mortgage loan and reduce the lending rate.
Conflicts arise when Sberbank employees do not just impose life insurance, but insist that the policy be issued in the Sberbank Life Insurance company. BUT annual rates She doesn't have the lowest
Interest is calculated from the sum insured, and it is equal to the size of the loan. And the recipient of the loan will face significant payments.
The borrower has the right to insure his life and health in any insurance company accredited by Sberbank. This rule is spelled out as a separate clause in the loan agreement.
There are four such companies, in addition to Sberbank Insurance:
Their rates are usually lower than the rates at Sberbank Insurance. But, despite the law, Sberbank managers sometimes insist on issuing a policy in their insurance company. It is difficult to say what drives them: simple incompetence or the desire to cash in on additional services. But unfortunately, such precedents happen. In this case, the potential borrower needs to refer to the website of Sberbank of Russia. It says that you can insure health and life in any insurance company that meets the requirements of this credit institution.
If this does not help, then it is necessary to demand from the bank employees a written refusal to issue a loan with a mandatory indication of the motive. As a rule, such a step is enough to remove all the objections of managers and start a constructive dialogue. Otherwise, you need to contact the management of Sberbank directly or appeal against the unlawful refusal to issue a loan in court.
When you take a loan for housing at Sberbank, conclude an agreement personal insurance not necessary. You have the right to refuse insurance. No law provides for its indispensable presence.
At voluntary insurance health and life when obtaining a mortgage loan, there are positive and negative sides. The biggest disadvantage is total amount insurance payments under the contract. Considering that contributions must be paid annually, the cost of life insurance with a mortgage at Sberbank is significant, credit programs designed for 30 years, it turns out an impressive overpayment.
But if we take into account that Sberbank in the absence of insurance increases the loan rate by 1%, then there is a reason to insure. It is not necessary to do this at Sberbank Insurance. It is reasonable to look for more favorable conditions from other insurers accredited in this credit institution.
On November 5, 2016, a borrower of 2 million rubles died in production ... since 2007, half of the amount has been paid ... his wife (38 years old) is unemployed and two small children (3 and 10 years old) are not able to pay another 1 million ... for which hopefully what to do? the family found only a VTB policy for property insurance ... in contract No. 26740 there are also no lines about the life insurance policy ... How should I go to the President? my t.925-185-36-41
Good afternoon! Please tell me what to do if an employee of Sberbank, when applying for a mortgage loan, forces them to insure with them, and we want to go to another insurance, to which the employee says go insure, but refuses to provide the number of the credit agreement for the insurance?
Welcome! Mortgage insurance - where is it cheaper and more profitable to get it? An interesting question that you must definitely deal with if you decide to take a mortgage. Further in the post, we will analyze mortgage insurance where it is cheaper. Which insurance is worth taking and which is not, as well as the main conditions of insurance companies.
In the last post, we figured out that there are three main types of mortgage insurance:
Of these, only the first type is mandatory. The rest is not necessary to issue, but this will entail certain sanctions up to the refusal of a mortgage. Read our post “Mortgage Insurance” to learn more about all the nuances.
Before you go looking for the most favorable tariff for insurance, you need to contact the bank and get a list of accredited insurance companies from a specialist or on the bank's website. You can insure yourself on a mortgage only in these insurance companies approved in advance for working with a bank.
As a rule, banks issue the so-called comprehensive insurance. This is an insurance policy for all three types of the above insurance at once. Usually its cost does not exceed 1% of the loan amount, but in most cases it is even less from 0.2% to 0.5%.
The final rate depends on many factors:
Advice! If you want to save money on an insurance policy, then make your spouse the main borrower, let your husband be. This will allow you to get the minimum rate.
From all of the above, it follows that the insurance rate is a rather individual thing, so there is no need to talk about exact numbers, but you can reliably determine at least their approximate order. Let's get acquainted with the conditions of the main insurance companies at mortgage lending.
Sberbank, for example, requires without fail to insure collateralized property, and the property value limit is not more than 15 million rubles, you will be charged 0.25% of the loan amount, and every year this percentage will be charged on the balance of the total debt.
Life and health insurance will cost you 1%, but it is at your request, however, if you refuse, this percentage is added to the mortgage interest rate, or rather, it will be taken away with consent.
In practice, it looks like if the amount is approved at 14.9% per annum, then with life and health insurance, the rate will drop to 13.9%. Well, and a wide range of insured events that are insured, no one has canceled here either.
Also, if you take a mortgage from Sberbank, then this is the only bank that does not require comprehensive insurance, i.e. title is optional.
If you would like to change insurance company, then “you can do this painlessly with the full repayment of the loan, then you will be refunded the insurance premium for the remaining months. In another case, no one will return the rest of the insurance premium to you, except for the case when you refuse before the start of the insurance, then the premium is paid in full.
This is a comprehensive insurance that includes collateral, title and life and health insurance, i.e. one contract is concluded with you, for third-party banks for 1 year, for VTB for the entire term of the mortgage with annual renewal, which means that it needs to be renewed every year.
On average, insurance will cost you 1% of the amount under the loan agreement, annually 1% is also charged on the balance of the loan. When changing the insurance company, the conditions are the same as in Sberbank, i.е. either full repayment or non-refund of the premium.
Regarding VTB, we must make an important note that in 2020 they did not pass accreditation, as they submitted documents late, therefore, at the moment, insurance for third-party banks is not provided. And, if you still want to insure here, you will need to clarify this information directly with the bank.
VTB insurance has a discount for issuing a policy for long term(1.5 or 2 years, etc.).
In this company there is no comprehensive insurance, only constructive and life. Life and health insurance will cost you about 0.55%, depending on the components indicated in the health questionnaire, over 4 million rubles. rubles - a medical declaration is required.
Structural elements are insured - approximately 0.43%, this percentage can be increased by such factors as a gasified house, as well as the first and last floors.
Regarding the change of companies, here, in addition to the fact that in case of cancellation of the contract, if the application from the Insured was received before the date of commencement of the insurance and no more than 5 days have passed from the date of conclusion of the insurance contract to the date of cancellation, you will be refunded the premium in full, there is another condition that in case of cancellation within 5 days after the commencement of the insurance and no more than 5 days have passed from the date of conclusion of the insurance contract to the date of cancellation, you will be paid a premium in proportion to the unexpired insurance period.
In RESO conditions for Sberbank differ from other banks, for Sberbank property insurance is approximately 0.18%, life and health within 1%. For VTB, Raiffizing Bank, Absolut Bank, etc. - comprehensive insurance, where life and health are also up to 1%, property - about 0.1% and title - about 0.25%.
In RESO, not only in case of early termination of the contract within 5 days after the conclusion, but before the start of the insurance, the premium is paid in full. In the event of early termination at your request, the company shall refund the insurance premiums for the unexpired term of the contract, minus the costs incurred, unless otherwise specified in the insurance contract.
It should also be noted that RESO is currently running the Profitable Mortgage promotion, a 40% discount for the first year for mortgages and for those who decide to change companies.
In Alliance, life and health insurance will be 0.87% of the sum insured; property insurance - 0.16% and title insurance - from 0.18%. Now the company is running a mortgage insurance campaign, which means that when you take out a mortgage insurance policy, you can insure additional risks at preferential prices:
It should be noted that due to the closure of offices in the regions, the service is provided by the Central Moscow office.
Life and health insurance for Sberbank - 0.6% (male) and 0.3% (female); property - from 0.2%.
For VTB and other banks - life - 0.56 (man), 0.28% (woman), respectively; constructive - 0.17%; well, and title insurance - 0.15%. In agreement with Central office discounts are possible, but the size is determined individually in each case.
The sum insured decreases in proportion to the decrease in the loan amount. Early termination of the insurance contract on your initiative is also provided here only in case of full early repayment of the loan, in this case you are paid a part of the premium paid for the remaining term, minus 65% of the paid insurance premium. For other reasons, early termination on your initiative is possible, provided that the insurance premium is non-refundable.
Here you can insure everything separately or choose a comprehensive one. mortgage insurance, which, as you already know, includes property, life and title insurance. They do not provide approximate rates, you can only calculate the cost of insurance on your terms.
Let's look at the example of a 38-year-old man, without bad habits, healthy, working in the prosecutor's office and a woman of the same age, but an estimate engineer, the amount of their mortgage is 8,000,000 rubles, secondary housing on the 5th floor, owned for more than 3 years . Insurance programs for Sberbank and other banks also differ here, so let's move on to the numbers:
For Sberbank:
life insurance - 35,518 rubles (man) and 25,248 (woman);
Collateral property - 11,200 rubles (for each),
In total, we see that for a man - 46,718, and for a woman - 36,448. Contracts are drawn up for 1 year.
For VTB and other banks:
life insurance - 44,418 (for a man) and 18,176 (for a woman);
Constructive - 12,000 rubles (both for one and for the other);
Title - 16,000 rubles (for each).
As a result, you see that for a man in this case, comprehensive insurance will cost 72,418 rubles, and for a woman 46,176 rubles. For VTB there is an opportunity to conclude an agreement for the entire term of the loan with an annual extension.
You can terminate the contract ahead of schedule at your request on the same terms as most previous organizations, within 5 days after signing the contract you will be refunded the insurance premium in full, more, the premium is not refundable. Exceptions are, for example, the fact that you have not been issued a mortgage.
If you decide to change the insurance company to Ingosstrakh, then you will be provided preferential terms in the form of a discount from 5 to 15%, the exact amount of the discount is decided by the management: up to 3,000,000 rubles, the decision is made by the regional branch, above - the central Moscow office.
Now there is such a promotion: if you have a mortgage insurance contract concluded with this company, then for voluntary insurance ( network engineering, decoration, property, etc.) - 20% discount.
In Alfa-insurance, you can also choose comprehensive mortgage insurance, the term of which will be equal to the term of the loan and will decrease every year as the debt is repaid. The contract is terminated ahead of schedule identically to the conditions of VSK Insurance House. When changing the insurance company, here you get a simplified procedure for drawing up a contract and more favorable conditions. The contract is for 1 year.
As in all companies, there are different programs for Sberbank and other banks. But today the organization in question does not have accreditation for life and health insurance for Sberbank, so you can only insure property, it will cost 0.18% of the mortgage amount.
For VTB and other banks, you can insure for the entire duration of the mortgage, to see the cost of insurance, we will again refer to our example (male and female 38 years old and 8,000,000 rubles):
Life - 46,900 (man) and 30,452 rubles (woman);
Constructive - 9,200 rubles;
Title - 12,000 rubles.
Now you can see that the exact cost of mortgage insurance depends on many factors, so all the amounts given to you in the example are approximate.
Insurance in Sogaz is one of the most affordable:
In case of early refusal of the client from insurance ( early repayment mortgage) a part of the fee for the unexpired policy is returned, reduced by the share of the load in the structure tariff rate. For other reasons, there is no return.
Analyzing the above, we can bring everything into a comparative table for all the insurance companies we are considering using the example of the same man and woman with the initial data taken by us at the beginning of the post.
| Bank | Property (constructive) | Life and health | Title |
|---|---|---|---|
| Sberbank | 0,25 | 1 | No |
| VTB | 0,33 | 0,33 | 0,33 |
| VSK | 0,43 | 0,55 | No |
| Alliance | 0,16 | 0,66 | 0,18 |
| RESO | 0,1 | 0,26 | 0,25 |
| Rosgosstrakh | 0,17 | 0,28 | 0,15 |
| Ingosstrakh | 0,14 | 0,23 | 0,2 |
| Alpha Insurance | 0,15 | 0,38 | 0,15 |
| Sogaz | 0,1 | 0,17 | 0,08 |
To make a calculation, you must fill in the data on the calculator. It will allow you to calculate the cost of the policy with the risks you need and issue the policy online.
To find out where mortgage insurance is cheaper, you need to take a few steps:
Summing up our post, we see that insurance significantly reduces the interest rate on a mortgage, and refusal to insure collateral is fraught with a bank refusal in a mortgage, which means it is better to insure. And if you approach this issue with all responsibility, with the understanding that a mortgage is far from short term loan and anything can happen in our life, you, of course, exclude possible risks which may affect your obligations to the Bank. Although, it's up to you to decide and any of your decisions will be right for you!
And we are waiting for your questions in the comments, which we will be happy to answer.
Subscribe to project updates and press the buttons of social networks!
It is a very popular procedure today. However, most banks impose certain requirements on borrowers, one of which is compulsory insurance life and health. However, many still have questions. Many are interested in whether it is necessary to take out life and health insurance with a mortgage, especially to pay a fairly decent amount of money for it.
To answer the question of whether this procedure is mandatory or not, it is worth considering in more detail the process of obtaining a policy. It is also recommended to pay attention to the benefits and possible benefits of insurance in relation to a person who wants to get a loan.
Everyone knows perfectly well that funds for the purchase of housing, as a rule, are issued for a rather long period (up to 30 years). These are very unprofitable for banks, since anything can happen to a client during this period of time.
If we consider the problem from this side, then in this case we are talking about benefits for credit institution. Are there any advantages to obtaining such a certificate for the borrower himself? Of course they exist.
For example, if a borrower suffers an injury that renders him unable to work, then he will not have to pay a huge commission to the bank for not being able to make monthly payments. In this case, the responsibility for payments lies with the insured. In a situation of obtaining disability of groups 1 and 2, the borrower will be insured against additional costs. In the event of the death of a bank client who took a rather large loan, his relatives will not have to repay the debt.
Simply put, the insurance company will have to cover all bank losses caused by certain circumstances related to the borrower. At the same time, the living space taken on credit is not going anywhere. It will still be the property of the borrower's relatives or himself.
If immediately after the occurrence of an insured event, inform the bank about the incident, then the risk that monthly payments will be increased is reduced to zero. Also, some confuse The last 2 options are valid throughout the entire period of mortgage lending. This means that you will need to pay an annual fee for the certificate. The interest on insurance will also be recalculated based on the balance of the debt. Therefore, you should think several times before refusing this service. It is best to find where mortgage life and health insurance is cheaper. At the same time, attention should be paid to several important nuances. What to pay attention to?
If we talk about calculating the traffic of life and health insurance with a mortgage, then everything depends on individual circumstances. The interest rate can range from 0.5 to 2.5% of the outstanding mortgage debt. Of course, even a hundredth of a fairly large loan will hit the client's pocket hard.
In order to save as much as possible during the registration of life and health insurance with a mortgage, it is worth checking with a bank employee which particular insurance companies are partners of a credit institution. In this case, you can familiarize yourself with each individual firm and consider the existing interest rates.
Although on the websites of insurance companies there are online calculators, they do not always work fully, that is, they do not take into account the individual parameters of customers. It is much more convenient to contact the organization and personally communicate with the manager.
Of course, first of all, everyone is interested, due to which a significant increase in the interest rate for obtaining a certificate can occur. It should be borne in mind that company employees pay attention to the age of the borrower. If he is not young, then, of course, the commission will be much higher.
Also, clients applying for health and mortgage loans are asked to undergo a medical examination. Based on the data on the presence of chronic diseases and other ailments, a decision will be made on the final cost of the insurance certificate.
As a rule, men have to pay large sums for obtaining a form. This is due to scientific evidence and mortality statistics: unfortunately, the stronger sex live much less than women.
Also, the position of the client can affect the increase in the interest rate. If he works in hazardous conditions in hazardous production, then, most likely, the overpayment will be even higher. In addition, the amount of the loan and the length of the mortgage loan repayment period are taken into account. Also, the manager always evaluates the external data of the client. If he suffers from too much weight, smokes and drinks, then this is also a negative factor that affects the increase in overpayments.
Sometimes it happens that clients draw up an insurance form, but suddenly realize that they are overpaying too much. In this case, they can actually return the received mortgage policy. However, keep in mind that this is given a very short time. Usually it is no more than a few days. More exact terms can be found in the contract, where they must be spelled out.
It is also worth paying attention to the clauses in the contract that relate to the calculation of insurance and the possibility of a refund. Money. The UK has the right to draw up a contract at its discretion, so there may well be clauses according to which the client does not have the right to count on any compensation. It is worth being attentive and once again ask the manager a question.
Refuse without any consequences insurance policy only the military can, since their life and health are already insured according to the type of activity.
As mentioned earlier, before signing the contract, it must be studied in detail. The terms of payment must be detailed in it. At the same time, it is important to ensure that the amount of the amount that will be paid upon the occurrence of one or another insured event is indicated.
The contract specifies the obligations of the insured and the insurer. This is very important, because if some nuances were not indicated in the papers, then in this case the company can very easily refuse to pay.
As a rule, in order to receive compensation, it is necessary to collect Required documents. This responsibility lies with the insured. The insurance company has the right to refuse payment if an accident occurs that cannot be classified as an insured event.
In this credit institution, you can not only get a fairly decent amount of money for the purchase of a new living space, insurance policies are also drawn up here. In this case, any client of the bank who has issued a mortgage in the amount of up to 11 million rubles has the right to receive documents.
If we talk about the amount of payment for life and health insurance with a mortgage at Sberbank, then the contribution is 130 thousand rubles. However, everything again depends on the individual parameters of the borrower. It is also worth considering other organizations that provide similar programs.
This bank also provides its customers with the opportunity to issue a policy immediately upon receipt of funds. However, in this case, the conditions will be much more favorable than in Sberbank. In this case, a client who takes out life and health insurance with a mortgage at VTB will have to pay about 0.21% of total cost chosen dwelling. However, most citizens of the Russian Federation still prefer to contact insurance companies, which have been on the market for a long time and during this time have collected a huge amount of positive feedback. It is worth considering them in more detail.
The main advantage of this organization is that customers can contact not only the branch of the company, but also receive money through the official website. As a rule, after leaving the application, the manager of the organization calls back to the user and discusses the conditions.
Another important point in obtaining life and health insurance for a mortgage at Sogaz is that in this case, a medical examination, which is a prerequisite, is absolutely free.
If we talk about it, it will be 0.17% when it comes to the life of the borrower. There is also a very interesting service. It's called "borrower's liability insurance". In case of non-repayment of the loan, the overpayment for the certificate is set at 1.17% of the total price of the apartment. However, it is worth clarifying the final cost of documents with an employee of the organization, since everything depends on the particular bank, the loan amount and the repayment period.
In this case, it is about comprehensive insurance which includes life, health and more. In addition, the IC client will be protected in case of loss of working capacity or disability. Thanks to this, life and health insurance with a mortgage at RESO has a great advantage and benefit for borrowers.
In case of disability, illness or death of the client, the company independently pays the bank the balance of the debt. The heir of the borrower also does not have to worry about debts. And besides this, such package insurance includes the protection of the acquired property. In "RESO" you can issue a certificate according to personal conditions. This is very convenient, since each person may have different situations in life.
However, this IC is far from the only one where you can get such paper for a bank. Let's consider other options.
The main activity of this insurance company is precisely in issuing policies for the life and property of borrowers. In addition to the main insured events, the client also has the right to indicate his own versions of what may happen to him or his property.
If we talk about the cost of registration in the "Renaissance" life and health insurance on a mortgage, then in this case the amount is calculated solely on an individual basis based on the specific data of a particular client. However, the minimum cost of issuing a form will be 2.5 thousand rubles.
This company is one of the five best insurers in the Russian Federation. Here you can get a fairly cheap life insurance policy for mortgage lending. If the amount of the loan is no more than 11 million rubles, then you will have to pay about 16.5 thousand rubles for ordering an insurance and customer service form. Thus, in Ingosstrakh, life and health insurance with a mortgage will cost approximately 0.22% of the total cost of the selected housing. These are more than favorable conditions for clients who want to reduce the interest rate on a general loan.
This insurance organization also enjoys great popularity among the population. It offers very low rates. If the home is insured in the UK under a comprehensive program, then in this case the cost of the certificate will be no more than 0.2% of the total cost. However, in this case, the bank in which the mortgage was issued will be necessarily considered. It also takes into account the size of the loan, interest rates, type of property and much more. All borrowers must undergo a detailed background check.
Nevertheless, in Rosgosstrakh, life and health insurance with a mortgage is quite cheap, so you should definitely consider this organization.
In the last decades of the last century, a life insurance policy was in almost every Soviet (Russian) family. But the collapse of the economy in 1991 turned contracts with Gosstrakh into pieces of paper and discouraged the population from giving money to insurers. Mass return of service to financial market associated with compulsory types of insurance (insurance for loan cars or mortgage). However, by housing loans not everything is clear.
The Federal Law “On Mortgage (Pledge of Real Estate)” dated June 16, 1998 No. 102 obliges to insure only pledged property. The bank also requires additional life insurance for a mortgage, and in some situations, a policy in case of loss of ownership. Is it worth agreeing to the requirements and how much will they cost?
As a rule, insurance includes three types at once:
How much will the “triple” peace of mind cost the client?
Life and health insurance will cost 1%.
Property insurance - from 0.1 to 0.25% and Title insurance - from 0.5% to 5%.
If all three objects are insured, and not the mandatory minimum, the conclusion complex agreement one insurer will cost less than separate insurance documents for every kind.
The sum insured is equal to the loan amount increased by 10%. The premium payable to the insurer is calculated by multiplying the sum insured by the rate.
So, the title is needed only for the secondary market. Is life insurance worth it? Banks have come up with an "antidote" for those who want to save money on this procedure: they estimate the increase in their risks at 1-2%. The rate for unprotected borrowers rises from 11%-12% to 13%-14%.
What option will allow you not to overpay?
It can be seen from the table that there is no savings in case of refusal of insurance. Given that the policy provides financial protection, you should not refuse it. It is important to choose the right company and delve into all the details of the conditions.
The policy guarantees financial protection against one of the following events:
1. Death of the borrower from:
2. Recognition as a disabled person with a complete loss of ability to work.
3. Temporary disability (for a period of more than 30 days).
It is important to immediately notify the lender and the insurer of the occurrence of one of the events and not stop paying off the mortgage until the documents necessary for payment are collected. In the first two situations, the insurer fully compensates the bank for the amount of the debt, and the encumbrance from the apartment will be removed. In the latter case, the indemnity is calculated as the product of the actual period of incapacity for work and the monthly payment divided by 30.
If the package of risks as a whole is the same for insurers, then the list of exceptions varies. This should be remembered when choosing an insurance company.
Before issuing a policy, you need not only to familiarize yourself with its basic conditions, but also to study the Rules of insurance.
Reimbursement may be denied if:
These circumstances must be proven by the employees of the insurance company. The payout case will definitely “stall” for the duration of the criminal proceedings, if any.
It is theoretically possible to change the standard terms of the contract, but large insurers are unlikely to do this for the sake of one new insured. Therefore, a careful selection will have to be carried out by the client himself.
When choosing an insurance company, you need to pay attention to the reputation, the availability of a license for this species, real reviews about payments. Not the last factor will be the price of insurance services.
Perhaps before signing the contract, the client will not only be offered to fill out a detailed questionnaire about himself, but also asked to undergo a medical examination.
The results will certainly affect insurance rate, but in addition to medical nuances, there are accompanying circumstances that affect the price.
| Personal data | Related factors |
|---|---|
| Gender (price for men is higher) Age (the older the client, the higher the rate) chronic diseases Early death of close relatives due to illness Imperfect height/weight ratio Frequent sick leave recently Dangerous profession extreme hobby | Loan amount Intermediary commissions A small number of clients for this type of insurance in the company (the logic of accumulation of insurance reserves does not allow to reduce prices if this type is not massive for the company) Availability of other insurances in this company (loyal customers are rewarded with discounts) |
If you have CASCO, OSAGO, VHI, ask your agent if the company can provide special conditions under a life insurance policy for a regular customer.
Mortgage life and health insurance is for the entire period of lending. But fees are paid once a year. Before paying, you should ask the bank for information about the balance of the debt (sometimes the insurer does this) so that the agent makes a recalculation insurance premium. Despite the reduction in the sum insured (the "body" of the loan), a reduction in the financial burden should not be expected due to the increase in tariffs caused by the increase in the age of the borrower.
But if the client has lost weight or changed dangerous work to an office routine, the insurer should be informed about this. A recalculation will be made, a new schedule of insurance payments will be formalized as an additional agreement to the contract. It is not reasonable to mislead the insurer about the state of health in order to save several hundred rubles.
Such actions will lead to serious consequences if the deception is revealed. The companies employ a staff of lawyers, medical experts and a security service designed to prevent unreasonable payments.
To surprises for the client (heirs) upon payment insurance compensation relate:
It can be a consolation that the loan agreement also provides for the release of the parties from obligations under the influence of force majeure circumstances.
To apply for insurance you will need:
You can apply for a policy:
The last method is the fastest, but the first will be the most economical. Tariffs of "pocket" insurance companies or official partners are the highest. They contain the bank's commission for providing a client, the costs of doing business (including wages) of a broker, an insurer. But if it was not possible to resist the onslaught of the loan officer, it is important to know that the client has the right to terminate the policy and conclude in the company where the price and conditions are more attractive. Bank refusal to accept this document will be illegal.
Important: for a year now there has been an opportunity to return money for imposed insurance in the first five days, if an insured event has not occurred (Instruction of the Central Bank of the Russian Federation of November 20, 2015 No. 3854-U) - the so-called "cooling period". The rule applies to mortgage insurance.
You can renew the contract with an alternative insurance company at any time. It is convenient to do this before paying the next installment, having decided in advance on the choice of a new insurer. It is impossible not to renew the policy at all: the contract with the bank provides for severe sanctions from raising the loan rate to the requirement to repay the debt in full the shortest time. Results: you should not refuse voluntary life insurance with a mortgage.
The policy will not only save 10-20 thousand annually, but will also become financial protection for the borrower's family in the event of unforeseen circumstances. It is for this reason that you need to choose a reliable insurer and before signing, slowly study the terms of the contract.
Many borrowers have no idea why they need to insure their life and health when applying for mortgage loans.
What is it for? Is it possible to refuse? If I want to take out an insurance policy - how do I do it? Does it have any benefits? How to get insurance in the event of an insured event?
Let's consider all these questions in more detail.
Sberbank today is one of the major players in the field of provision. When applying for a mortgage, this bank uses a system personal insurance.
Life insurance, which is required by many banks, including Sberbank, is primarily necessary in order to play it safe after the fact occurrence of various risks, namely:
By and large, in the event of any insured event, the lender will be able to return his money, and the borrower, in turn, will receive monetary compensation, which will remain after the loan is closed by insurers.
When applying for a mortgage loan, many citizens ask the same question - is it necessary to insure life and health?
In this regard, one feature must be taken into account: despite the fact that insurance is an optional condition without an insurance policy interest rate on the loan will be increased by approximately 1%.
Moreover, Sberbank itself does not force its potential customers to take out an insurance policy with any particular insurance company, here, as they say, the borrower chooses the company himself, which is ready to offer insurance on favorable terms for both parties.
However, in the process of insurance, it must be taken into account that not all insurance companies cooperate with certain banks. Sberbank has its own list of insurers, VTB 24 has its own insurers. For this reason, when applying for a mortgage, you need to be interested in which insurance companies cooperate with the bank.
The very object of insurance when applying for a mortgage loan at Sberbank is considered to be the life and health of the borrower.
According to the terms of insurance, insured events may occur for the following reasons:
The terms of the voluntary insurance program also provide for some restrictions, according to which it will be impossible to obtain insurance if necessary. In particular, we are talking about:
Get insurance impossible, if:
In the process of obtaining an insurance policy, it should be borne in mind that amount of insurance compensation is 1% more than the amount of the mortgage loan itself. In the event that an insured event occurs, the insurance company fully repays the mortgage loan, and pays the rest of the insurance to the borrower himself.
If we talk about companies that cooperate with Sberbank, then their scroll as follows:
In turn, insurance in these companies for the life and health of the borrower will cost the following amount:
If speak about insurance company VSK, then here the interest rate for life and health insurance is calculated in individually and largely depends directly on the size of the mortgage loan. However, in any case, it is safe to say that Better conditions in this area is provided by Renaissance Insurance Group LLC.
If we talk about how life and health insurance of the borrower is carried out, then algorithm has the following form:
Each borrower, when applying for a mortgage loan, must take out insurance for his life and health. To do this, you must contact directly the insurance company that cooperates with a particular banking institution.
At the same time, there can be many insurance companies, so it is better to take their list directly from the bank where the mortgage is issued. 
First of all, you will need to write statement. Each specific insurance company has its own form, so this document is always filled out in the presence of an insurance agent.
In addition to the statement will need to provide:
After the entire package of documents is ready, including the application itself, the insurance agent draws up an agreement, which specifies:
First of all, it must be remembered that in the process of signing an agreement, you must always carefully study the conditions under which an insured event occurs.
At the moment when the insured event occurs, procedure is as follows:
At the same time, one nuance must be remembered: it is necessary to notify the insurance agent immediately after the insured event has occurred (this means notification on the same day and even in the first hours).
Without any doubt, there are both pluses and minuses in taking out a life and health insurance policy.
If to speak about shortcomings, then first of all we are talking about the cost of such a policy. This is due to the fact that insurance is carried out for the entire period of the mortgage loan, and given that it can be 20 or 30 years, the amount appears significant.
At the same time, it should be taken into account that under the terms of the insurance policy, the borrower is obliged to pay insurance premiums annually and it turns out that he overpays an impressive amount on the loan.
However, speaking of positive sides, then everything is much simpler here. Agree, few of us know what may come in a year or two. A mortgage loan must be repaid not for 5 years, but much more.
For this reason, having insured his life and health, the borrower fully guarantees himself and the bank that in any case the mortgage loan will be repaid in full.
Imagine a simple situation, the borrower did not take out an insurance policy and paid off a mortgage loan not at 15%, but at 17% (the interest was increased because there was no insurance). The loan was issued for 30 years, 10 of which he had no health problems, and he paid on time. But in the 11th year of paying off the loan, he developed a serious illness and died. His only son came into the inheritance, and thus the mortgage loan was transferred to his shoulders. If there was insurance, then the son would not have to pay the remaining 20 years of a mortgage loan.
As you can see, the advantages of an insurance policy are quite obvious, and therefore, according to statistics, 95% of borrowers always prefer to take out such a policy.
The benefits of taking out an insurance policy are described in the following video:
