Refusal of insurance after receiving a loan: grounds, reasons and documents

Each time, when making a loan, the borrower is faced with the need to purchase an insurance policy, and sometimes, not just one. The bank as a credit institution seeks to minimize its risks, and the borrower does not want to overpay for unnecessary service to him. Let's try to figure out when it's better to be insured and how to make a waiver of insurance after receiving a loan.

What is insurance and who needs it?

Choosing from the bank's proposed loan proposals, the borrower tries to find the best option for himself: convenient for annual interest and monthly payments. And very often puzzles then, why does the bank employee so persistently try to "protect" him from various insurance situations? Why do credit managers constantly advise ticking in the column "I agree to be insured", predicting otherwise a negative bank response? Of course, the contract does not explicitly state that the borrower is required to purchase an insurance policy, but in practice ...

Insurance is ...

So, insurance is one of the banking programs with which it tries to protect itself from possible non-return of credit funds. And today, insurance is an application for all types of loans issued by banking institutions. When a client, experiencing financial turmoil, can no longer pay his loan, the insurance company starts to perform this function for him.

What are the cases - insurance

Insurance is activated upon the occurrence of certain cases recognized as insurance:

• The emergence of a situation in which the borrower loses his ability to work and receives a disability group (II or III);
• The borrower loses his work place not at his own will (dismissal);
• He can not fulfill his obligations because of natural disasters (for example, a natural disaster);
• Death of the borrower.

The amount you need to pay for insurance is a certain percentage of the loan's body, (the main debt) and it is because of not always justified overpayment that most people try to refuse insurance after receiving a loan. By the way, the approximate amount of payments on it varies between 25-30%. Insurance is added to each monthly payment, evenly distributed for the entire credit period.

Of course, positive points in insurance are present, but it is not always possible for an insured event to occur, and, consequently, compensation payments. For example, if the borrower begins to change his financial situation after the loan is registered (he resigned from his job and there is no money to repay the debt), it is necessary to apply to the insurance company as soon as possible about it. Terms in which you need to warn your insurer are prescribed in the contract, but usually they do not exceed 3 days.

How to reduce insurance payments

If the borrower refuses to insure, in most cases it will be waited for by the bank to refuse a loan. This is because the bank is not ready to lose its money. But, if the borrower allowed himself to be insured, there are several questions, the answers to which will help to reduce payments:

1. If the loan is repaid in a short time, will the amount of insurance be reduced? Yes. And this is the most profitable way, which will allow you to save on insurance as much as possible.
2. Are money returned for purchased insurance if the insured event has not occurred? The answer to this question is only in the loan agreement and is fixed in the form of a period during which it can be done. But the borrower should be ready, that the insurer will put a maximum of efforts to not admit it.
3. What threatens to refuse insurance, if the loan has already been approved: a fine or changes in the loan agreement? There are two possible answers here. First: the bank ahead of schedule, within two weeks, obliges the borrower to return the loan funds to him and at the same time pay the fine specified in the contract. Second: the bank will not demand early repayment, instead it will raise by several points the annual interest for using borrowed funds. How much the annual interest will be increased, is reported in the loan agreement, and in each case individually. Thus, the bank as much as possible tries to protect itself from borrowers who draw up a waiver of insurance after receiving a loan.

Borrower's duty or voluntary agreement?

Cases when insurance can be mandatory, there are not that many:

1. When registering a mortgage loan: in accordance with Article 31 of the Federal Law "On Mortgage", the housing purchased by the borrower is pledged to the bank and, subject to the terms of the contract, must be insured.
2. By types of loan products issued by the bank. When the property acquired by the borrower is mortgaged in the bank, under the terms of the contract (for example, a car). In this case, the borrower is liable in the form of car insurance against damage or loss.
3. Making out any consumer loan, the bank has the right to oblige the borrower to purchase health or life insurance policies, that is, to protect himself in every way for proper performance of his duties under the contract.

By the way, the Federal Law "On Consumer Credit" is pleased with the innovations. So, if a bank insists on purchasing an insurance policy by a borrower when making a loan , for example, life, then today the borrower can not agree with this. By law, this type of insurance is not required. In this case, the bank is obliged to offer the borrower an alternative solution: to get a loan with insurance or to issue a loan without insurance, but with comparable conditions (for example, an increased interest rate). Also, the bank must offer the borrower to choose the insurance company, but from a certain list.

How to solve the issue in "Sberbank"

The decision of a question - how to refuse insurance on the credit after reception - bank establishments perceive differently. So, to return insurance on consumer credit in "Sberbank", there are 2 ways:

1. If not within 30 days from the date of conclusion of the contract, the borrower applies to the branch of the bank in which he made out a loan. Further, in free form, a statement is written about the return of unused insurance funds to the head of the unit. Here the amount of insurance will be refunded in full.
2. If more than 30 days have passed since signing the agreement, a similar application is being written. But the amount that will be returned will be 50% of the insurance amount.

Return insurance for mortgages and car loans can be, using similar schemes for consumer loans. But there is a nuance: if the loan was repaid ahead of schedule, and the insurance is paid for the entire term of the loan, it will be impossible to make a waiver of insurance after receiving a loan. "Sberbank" will not return it.

Bank "Setelem"

Return the insurance premium in the "Setel" -bank is possible, but then it matters which policy was purchased. If there was a purchase of the policy of life and health, then within 21 days from the date of signing the contract, you need to come to the insurer's office and fill out the exemption from insurance after receiving the loan. The insurance will be returned to the borrower in repayment of the loan.

If comprehensive insurance was issued (property insurance against damage plus loss of ability to work and property rights plus health insurance), it will be more difficult. The insurer at "Setel" of the bank is LLC IC "Sberbank Life Insurance". And in this case, the decision will be made by Sberbank after the borrower writes a refusal From insurance after receiving a loan. "Network" in the return of insurance can not help.

Bank "MKB"

It is almost impossible to return purchased insurance policies to the ICD. You should read the contract several times, so as not to lose money.

For example, the borrower applied to the bank for a consumer loan of 350,000 rubles. The credit manager orally explained that the obligatory condition for obtaining a loan is insurance (from loss of work plus from accidents, illnesses and death). Under the agreement, the amount could be repaid ahead of schedule, with a return of at least 50% of the amount of insurance. Such conditions were arranged by the borrower, and he signed the contract, carefully not studying it. The total amount from which the annual interest was calculated was 500,000 rubles. Six months later, the borrower ahead of schedule repaid the loan and wrote a statement on the payment of his unused insurance amount. But, instead of the promised 75,000 rubles (insurance was 150,000), he was only listed with 9,000.

Having started to understand, the borrower very soon found out the truth: inattention while studying the loan agreement cost him acquiring 4 insurance policies in a popular insurance company, two in another company. For joining to collective insurance the payment at a rate of 60 000 rubles is not returned at all under any conditions. Despite written refusal of insurance after receiving a loan, ICD did not return any more money to the borrower.

Bank "Renaissance"

Bank "Renaissance" allows its borrowers to refuse insurance in two cases.

1. After signing the contract within 5 days, the borrower must arrange a waiver of insurance after receiving a loan. Renaissance Bank will return the insurance premium. If you write a statement later, the insurance company will apply Art. 958 Civil Code, terminate the contract and will not return the money.
2. Receiving credit funds ahead of schedule, the policyholder will return only a certain amount of the insurance premium to the borrower, namely "the insurer has the right to receive part of the insurance premium, based on the time during which the insurance contract operated."

A few words at a time

The decision on whether to be insured or not is taken by the borrower, but even with his positive choice, it is always possible to formalize the waiver of insurance after receiving a loan.

And one more tip. Borrowers, draw up an application for the return of insurance in duplicate and require that the employees of the insurance company or bank enter the registration number and date on your copy. Sometimes documents have the property of getting lost ...