Recently, the future borrowers are increasinglyface the need to purchase an insurance policy, and sometimes several at once. The Bank seeks thus to insure itself against unreturned borrowed funds and increase its revenues. Borrowers, in turn, do not want to overpay for the imposed service and do not want to be deceived. Therefore, before you apply for a loan, you need to understand whether it is possible to refuse insurance on the loan. The nuances in considering different options may vary. Let's consider when it is not necessary to make out an insurance policy, and when it is better to insure yourself and your finances.
The insurance policy is a guarantee of the return of funds taken from the bank when the borrower has an insurance event.
The first reason why a bank is profitablecooperate with insurance companies - is the sale of insurance policies and obtaining agency payments from insurance companies when selling their products to borrowers.
The second reason is that the insurancethe company places insurance reserves in the bank's deposits. Funding of financial institutions is made in exchange for attracting them to the insurance organization a certain number of insured persons. The exchange is made in the ratio of 7: 1, where for every 7 rubles from the sold insurance the bank receives 1 ruble from the insurance company in the form of deposits.
It is not a secret to anyone that banks do nothas the right to carry out compulsory insurance of clients. But this is in theory. In practice, in order not to get into a mess, it is necessary to read the loan agreement very carefully, so that you do not have to ask how to refuse insurance on the loan and not write a statement of claim. The court in each particular case ascertains whether the borrower's receipt of a loan depends on the acquisition of an insurance policy, and whether the main factor affecting the bank's positive decision is the absence or, on the contrary, the existence of an insurance contract. After all, according to one of the articles of the law "On the Protection of Consumer Rights" it is prohibited to make the acquisition of certain services dependent on the obligatory acquisition of others.
But of course, the need for mandatoryInsurance as a condition for obtaining a loan is not available in the loan agreement. This phrase is camouflaged as "collateral for the fulfillment of obligations on the part of the borrower to the bank". So the bank, it turns out, is clean before the law.
In fact, when making a loan, credit managers imply the imposition of insurance. But how to refuse insurance on a loan? The instruction consists of only two steps.
Step 1.Refusal of insurance is made immediately after the conclusion of the loan agreement. But it is necessary to make sure that the termination of the insurance contract will not entail an increase in the annual credit interest or other "punitive" measures on the part of the bank.
Step 2.After that an application is written to the insurance organization, and after a certain time the insurance premium will be returned in full or in part (this can be provided for in the insurance contract upon its dissolution).
Some credit managers tell their customers how to correctly reject insurance for the loan.To do this, it is sufficient to make monthly payments in full and on time within 6 months from the date of signing the loan agreement. After the expiration of the six-month period, you should apply with a written application for the termination of the insurance contract to the bank's credit department. Why wait 6 months? The insurance contract is concluded for a minimum of six months. Do not be surprised to the borrower when, after the termination of the insurance contract, a higher percentage will be charged for the balance of the principal debt, and monthly payments will increase. Thus, the bank compensates for itself the lost funds.
Another option, how to refuse insurance on a loan, is to file an application with the court. To the statement of claim, it is necessary to attach credit documents, and if possible, a written refusal of the bank.
Based on judicial statistics, in 80% of cases the court takes the side of the borrower, forcing the creditor to forcibly terminate the contract, pay insurance and make a recalculation of the main debt.
Typically, consumer lending is characterized by a short period, lack of collateral and a high interest rate. It already by default includes all the risks that the bank may incur.
But some financial institutionspersistence, trying to insure the life and health of its borrowers. Insurance against loss of work is widely used. And if the first type of insurance a little justifies itself, then the second borrower bears direct losses. And all because, as an insurance case, loss of work is considered not by one's own will, but in connection with the liquidation of the enterprise or the reduction of the employee. But, as practice in Russia shows, when one of these moments occurs, the employer will let his employee write an application at his own will, so as not to pay him the compensation due. Also, when making a loan, the bank in the amount of the principal debt includes, by default, the insurance premium, and the annual interest is calculated from this amount.
It is worth noting that the contract is verythe concept of the insurance case itself is intricately formulated. Very often, when an insured event occurs, it is practically impossible for an insured person to receive compensation. And an example of that is the clause of the insurance contract, which states that "with the slightest change in one's health, the insured person is obliged to report this to the insurer". But in practice, most simply swing the contract, without going into details and, accordingly, not observing this condition. What does the insurer use to not pay. In this case, considering the question of how to waive insurance for the loan, the answer will be a close examination of the loan agreement.
Making out a car loan, the borrower requiresacquisition of two insurance policies: life + health and CASCO. But at the same time in one of the paragraphs of the insurance contract it is said that it is not necessary to insure the subject of the pledge. Example: VTB Bank offers its borrowers a car loan without issuing a CASCO policy. But at the same time, the annual interest for which a loan is issued is increased by 5-7.5 points. Therefore in this case it will be more correct to issue this policy.
But each borrower is better to decide: to refuse insurance on the loan VTB and get an increased annual percentage orsearch for a bank with the best offers. But over life and health insurance it is worth considering: the term of the car loan is from 2 to 5 years, and if the borrower receives a loan for a car in his youth and at the same time is not fond of fast driving, then the probability of occurrence of an insured event is small.
Here you can not get out of the insurance.The law obliges to conclude an insurance contract "From the loss and damage to the subject of pledge" (Article 31 of the law "On Mortgage"). Two more insurance programs that a borrower can use at will are the termination and restriction of property rights (title insurance), as well as loss of life and disability. But if he refuses, then the bank has the right to revise the interest rate in a big way. In general, it is extremely rare to find banks whose interest rate increase does not depend on the execution of an insurance policy.
And if the refusal of title insurancethe annual rate increases by 1.5 points, then the refusal to issue two policies (title and life insurance) will lead to an increase in the percentage by 10 points at once.
But life insurance is already at 1.5% ofthe amount of insurance. But, taking into account the conditions under which the mortgage is issued in Russia, the need for registration of title insurance and life + health for those who want to take a mortgage is inevitable.
There are mortgage programs thatinsurance only pledged items. These programs use Sberbank-credit. Is it possible to refuse insurance for other insurance programs? Yes, but if you refuse title insurance, the annual percentage will rise by 1 point.
The benefit for the bank, as mentioned above,is in the agency fee, which financial institution receives from the insurance company when you make policies. Therefore, a credit institution is extremely unprofitable to bring to the attention of the borrower information that How to refuse bank insurance on a loan.
It is also very common that a bankand insurance company are affiliated structure. It is for this reason that the bank insists on the purchase by the borrower of insurance policies from certain insurance companies.
We hope that now each reader knows how to refuse insurance on a loan. The main thing - carefully read the contract!
