Is it possible to refuse loan insurance from Sberbank? Is insurance required when obtaining a loan from Sberbank?

19.09.2017 0

When lending, it is important to familiarize yourself with both the terms of the program itself and the need to obtain an insurance policy. It is necessary to clarify under what circumstances it is mandatory, what it affects, and under what conditions the insurance can be returned after repaying the loan from Sberbank.

Conditions for loan insurance at Sberbank

At the time of issuing a standard consumer loan, life insurance can be provided at the request of the client. In many cases, bank representatives offer to issue a policy that can provide an affirmative decision on the submitted application.

Important information when applying for insurance.

1. The policy is issued on a voluntary basis; it cannot influence the refusal to provide a loan. But the bank does not explain the reason for the refusal.
2. A policy is issued in order to repay the borrower's debt in unforeseen circumstances and not burden relatives.
3. Refund of insurance after repayment of a loan from Sberbank is possible within 30 days after approval of the loan.

How long does it take to get the insurance back?

If the period after registration of the contract is less than 30 days, then a full refund of the funds paid for the insurance premium is possible.

Life insurance is issued by Sberbank Insurance. For these purposes, a special program was created that takes into account all the features of lending at Sberbank.

The main risks that the insurance policy takes into account

The standard program provides payments for risks:

• death;
• an accident that caused disability and incapacity for work of the client.

In these situations, the insurer assumes the borrower's credit obligations and pays off the existing debt. In the case of a conventional loan, clients rarely use insurance coverage. It is believed that in a short period of time, insured events are unlikely to occur and the policy need not be used. Repayment of insurance after repayment of the loan at Sberbank is also not considered for a short-term loan.

Features of mortgage insurance at Sberbank

Completely different conditions for the return of insurance are provided when obtaining a mortgage loan. The payment period under these programs can reach 20 years. Sberbank offers a 1% reduced rate for insured payers. Before you agree to this step, you must calculate this offer for a specific loan.

In mortgage lending, the risks are considered more extensive:

• loss of a job against one’s own will;
• changes in family circumstances that led to a deterioration in financial situation;
• temporary loss of ability to work as a result of injury, illness or accident.

If such circumstances arise, the relevant documents should be provided. Based on them, the insurer is obliged to make a one-time payment or repay the obligatory mortgage payment within several months.

The client has the right to establish the role of beneficiary not only to the bank, but also to any heir. He will be able to receive payments from the insurer and will assume obligations to repay the borrower's debt.

Conditions for returning insurance

Until the contract is completed, insurance after repayment of the debt from Sberbank is considered valid. In this case, it is possible to return the insurance after repaying the loan from Sberbank.

Conditions for termination of the policy:

• borrower refusal;
• illness for which it is impossible to obtain insurance;
• occurrence of an insurance situation.

The procedure for returning insurance to Sberbank

After the loan is paid in full, some amount can be recovered if the policy period has not yet completed. The amount for payments is set based on the period after insurance is issued.

Dependence of the term and amount of payments:

1. About 30 days. The cost of the policy must be refunded in full.
2. About six months. The amount is determined based on the expense documents provided to the insurer, which confirm the purpose and amount of expenses. A maximum of 50% of the paid price can be returned.
3. More than six months. Such requests are most often given a negative response. You can prove the correctness of your claims in court if the expenses are confirmed strictly for their intended purpose and the accrued amount is insignificant.

Refund of insurance after repayment of a loan from Sberbank is available to any client. But representatives of Sberbank do not consider it necessary to talk about this. Therefore, this issue should be studied independently.

Insurance claim procedure:

• visiting an insurer's office or bank branch;
• drawing up an application in free form indicating the policy number and loan agreement, as well as the date of repayment of the last installment;
• provision of an extract from Sberbank confirming the absence of debt;
• transfer of the certificate and application to the representative of the organization, as well as clarification of the review period (it is better to keep a copy with a note from the bank representative);
• visiting the office again if there is no response within the specified period and filing a complaint for too long.

Employees may take an unreasonably long time to process an application. In such a situation, you can contact the courts with the same set of documents.

Application for refund of insurance

How to get money back for insurance - canceling the policy

Returning insurance after repaying a loan from Sberbank requires persistence and endurance. Procedure for collecting the insurance amount:

• visiting the office within 30 days after receiving a positive response about the loan;
• drawing up an application with the obligatory indication of the policy number and the agreement with the bank, as well as with the requirement to terminate it (you do not have to indicate the reason);
• submitting an application to a representative of the organization and keeping a registered copy for yourself;
• clarification of the review period and setting a date for receiving a decision.

Sberbank must refund the amount based on the cost of the policy. If the application is submitted after the 30-day period, its size will be reduced several times.

Calculation of the cost of loan insurance

The cost of the insurance policy depends on the loan program. The standard option is 1% of the coverage amount.

Cost of other insurance options:

• life and work capacity insurance (in case of disability) - 1.99%;
• combined offer that covers various risks - 2.5%;
• ordinary risks and loss of employment (not of one’s own free will) - 2.99%.

Cancellation of insurance on favorable terms is possible within 30 days.
The insurance period is one year, after which it can be renewed as many times as necessary. Despite this, such an agreement can be terminated at any time. But a refund is possible up to six months after the renewal period.

How to return insurance after repaying the loan?

After the loan is fully repaid, you can submit the insurance and receive payment. If you choose to leave the policy, it makes sense to change the beneficiary in it. In another situation, the amount of insurance will be transferred to the bank to repay a loan that is no longer available.

Correct procedure:

• visiting the insurer's office;
• drawing up an application. It is necessary to confirm the absence of obligations on the loan (bank statement), and also indicate the desire to use insurance services before the end of the validity period;
• consideration of other options proposed by the bank representative;
• draw up a new contract.

Insurance after repayment of the loan debt from Sberbank will be received by the former borrower or his heir. This will happen at the moment the risk specified in the contract occurs.

Mandatory legal mortgage insurance

During the period of repayment of the mortgage loan, it is necessary to insure the loan object without fail. This condition is fixed by law.

List of reasons for insuring a house or apartment:

• the bank guarantees the repayment of loan funds;
• in a situation where a house or apartment is completely destroyed, the insurer will pay off the debt;
• In case of damage to the home, the client is transferred a certain amount of money, which can be used to make repairs or pay off the debt.

List of standard risks to ensure the insurance object:

• theft;
• explosion, fire;
• natural disasters;
• flooding;
• damage or complete destruction of a residential property by other persons.

The contract is drawn up for a year and must be renewed until full payment (early or urgent) is due. Refund of insurance after repayment of a loan from Sberbank is possible if you use home insurance, because The amount covered is quite large. Its size is set based on the total cost of the apartment or house. In some options, you can change it to match the amount of remaining debt to the bank. Then it will decrease every month.

Refund of loan insurance (video)

Most Sberbank clients who want to get a loan have the opportunity to take out insurance simultaneously with receiving the loan. Is insurance required when obtaining a loan from Sberbank and under what conditions is this service provided?

Conditions for loan insurance at Sberbank

About 80% of all its clients take out insurance from Sberbank. Many employees literally push insurance as an additional service, in addition to other bank services. Fearing refusal, most borrowers agree to take out a policy. With any type of lending, insurance is an optional service that you can always refuse.

The essence of insurance from Sberbank is quite simple: if an insured event occurs, the bank removes responsibility from the borrower and cancels the loan.

Insurance services are provided not by Sberbank itself, but by a subsidiary company, Sberbank Insurance, which has created a special loan program. The main task of the company is to protect the interests of Sberbank in the event of force majeure in the life of the borrower.

What risks are taken into account in loan insurance?

Sberbank Insurance undertakes to repay the borrower's debt and cover the bank's financial losses. Insurance when receiving a loan from Sberbank is valid if one of the insured events occurs:

• a significant change in the borrower’s financial situation (loss of job, relocation, etc.);
• loss of ability to work due to injury or disability;
• serious disease;
• death.

For each case, a specific algorithm of actions has been developed. For example, in case of temporary loss of performance, the company makes monthly payments to the bank.

To confirm an insured event, you must present the bank with the appropriate document: a certificate, an extract from the hospital or another document.

In the event of a serious illness or death of a client, Sberbank Insurance undertakes to fully cover the bank loan, regardless of the size of its balance at the time of the insured event.

How do I pay for insurance?

The traditional insurance program provides that the entire amount of insurance is taken into account in the loan amount. When registering for the service, there is no need to make additional contributions: the insurance payment is transferred to the Sberbank account automatically.

Is it possible to cancel insurance without the risk of being denied a loan?

If you do not want to take out insurance when receiving a loan from Sberbank, you must immediately inform the bank employee about this. If a bank employee exceeds his authority and shows excessive persistence, he should firmly refuse. However, there are pitfalls here: for example, the bank has the right to refuse to issue a loan without giving a reason.

Refund of the cost of insurance if you cancel it

Most often, borrowers, not knowing about their rights, agree to take out a loan with insurance. If, after a certain period of time, there is a desire to refuse insurance, the company returns the full or partial cost of the policy.

There are two refund options:

• if less than 30 days have passed since the response, the full amount is returned;
• If more than 30 days have passed since the response, half the amount is returned.

All conditions are clearly stated in the insurance contract, which can be downloaded electronically and studied in detail.

If you want to return the amount of the insurance premium, you must:

• come to the bank branch where the loan agreement was signed;
• fill out an application form, where you should indicate the loan agreement numbers and confirm in writing your refusal of insurance;
• submit an application to a bank employee, clarify the timing of the response and issuance of funds;
• the consideration of the application should be kept under control. There are times when it is necessary to file a complaint again;
• if the bank delays the process, the case can be referred to court.

Cases of termination of insurance

The insurance contract is valid for the period specified when signing it. As a rule, its term is similar to the term of the loan agreement.

However, there are cases when the policy term ends prematurely:

• upon the occurrence of an insured event;
• upon detection of a serious illness that is included in the list of those specified in the insurance contract (diabetes, hepatitis, etc.);
• If you repay the loan early, you can receive the remaining insurance funds.

How to return insurance if the loan has already been repaid?

To return insurance after paying off loan obligations, you must:

• write an application at a bank branch and attach a certificate with a request to return part of the amount, based on zero debt on the loan;
• attach copies of the necessary documents and give them to the employee;
• if the loan was repaid before half the contract term, it is possible to receive about 50% of the policy value.

Documents for insurance return

Credit insurance and consumer rights

Knowing now whether insurance is required when obtaining a loan from Sberbank, you need to remember your rights and carefully weigh the pros and cons of the insurance offer from Sberbank.

When signing the contract, be sure to read in detail the list and exceptions to them.

Standard list of diseases, injuries, operations:

There may be differences from those specified in your contract. Each insurance company establishes its own list of insurance events for the borrower’s health.

Remember, when drawing up a contract, a company employee has the right to demand from you a medical certificate confirming the absence of illnesses. The condition assumes that the borrower did not have any illnesses, injuries or injuries before signing the documents. Additionally, the insurer has every right to request an extract from the patient’s medical record for 5 years.

Options for paying compensation under insurance are possible in two cases:

Collect a package of documents to apply to the Investigative Committee:

• loan agreement;
• passport;
• loan repayment certificate;
• application addressed to the director of the insurance company.

If an accident occurs, immediately notify an insurance company employee. He will tell you how to act in this situation, what documents are needed to process the insurance payment.

IC Sberbank Insurance provides a detailed list of diseases and a list of documents required to confirm the diagnosis. If you do not have certificates, tests, x-rays, etc., compensation will not be paid.

Therefore, collect all supporting documents about your injury or illness. Then you won't have to face litigation.

1. When signing the contract, pay attention to the correctness of the entered data. If you miss a mistake, it could result in an accident.
2. If an insurance company employee delays payment, contact the director of the organization with a written statement of complaint about the situation.
3. Three days after concluding the contract, be sure to call the insurance company. Make sure your policy is activated.

The question of whether it is possible to return loan insurance from Sberbank worries many clients in 2018. Let's consider whether it is always mandatory to register, the return procedure itself, and what amounts can be expected in different situations.

The policy is voluntary and mandatory

Often, in order to obtain a loan, the client is recommended to take out a life insurance policy. Sberbank offers such responsible customers a discount on the rate to make the product more attractive. Sometimes employees even use some methods of pressure, forcing them to purchase a policy, citing refusal of a loan otherwise. This whim of the bank is caused by increased protection of its interests. The guarantee of repayment of borrowed resources is increased to the maximum. Indeed, under any circumstances, if the borrower becomes unable to work or even dies, his debts will not need to be collected from his relatives. The insurer will return everything.

The purchase of a policy in 2018 is voluntary and they have no right to refuse to issue a loan due to its absence. If the applicant is confident in his characteristics (good lending history, proper income) and is faced with a refusal without explanation, he can even contact Rospotrebnadzor or the Prosecutor's Office with a statement of infringement of rights. But the denial of any institution to the possibility of non-repayment without explanation gives them the right to influence borrowers.

Is it possible to get the money back for insurance after repaying the loan in 2018?

If the client takes out a mortgage, it is imperative to know how to return insurance from Sberbank on the loan after it has been paid off. Because a mortgage always implies insurance of the property (house, apartment). This method of protecting both parties from unforeseen circumstances is provided for by law. Additionally, clients are offered liability protection by taking out a life policy.

The policy allows you to protect your loved ones from unforeseen expenses in the event of an accident with the client, and therefore is recommended by experts, especially for long-term loans and for the category of senior citizens.

What to do with insurance after repaying the loan

It is possible to return insurance on a Sberbank loan in 2018 legally. Many people face this question, because the policy is issued only for a year with the possibility of permanent renewal. And the loan is issued for a specific period - one year, five, twenty, etc. In addition, if the borrower, as payments were made, sometimes applied partial repayments in excess of those established in the schedule, the period of interaction with the bank would end earlier.

Sometimes the client chooses the option of full payment ahead of schedule, so as not to overpay extra interest and be freed from the burden earlier. Therefore, the policy may still be valid when the loan has already been repaid. In this case, the bank is indicated as the beneficiary, while the client no longer has any debts to it. Therefore, relations with the insurer should be terminated in a timely manner.

There are several ways to do this:

• You can return loan insurance from Sberbank to get back the money previously paid for a product that the client will not use.
• Leave the policy in force until the end of the term if the premiums are not so high or there is a need for the product by changing the beneficiary.
• Terminate the contract with the insurer without reimbursement of funds paid.

When choosing an option, you need to analyze your situation and clarify the rules and amounts of possible collection.

Rules for refund of policy premiums

Having decided to return the insurance after repaying the loan from Sberbank, it is worth remembering that the relationship under it is carried out with the insurance company, and not with the bank, even if Sberbank Insurance is chosen first. These are two different structures, each operating in its own field.

There are some rules regarding applying for compensation, which depend on the elapsed period:

• Within a month, it is permissible to terminate the contract under the policy and receive the full amount back. This is required by law. If faced with an unreasonable refusal in this situation, you should immediately contact the Prosecutor's Office or Rospotrebnadzor.
• Within six months you can terminate the relationship and request compensation. The decision on the amount is made by the company based on the costs incurred to maintain the policy.
• It is almost impossible to receive compensation for more than six months, due to the passage of a long time. Typically, by this point the client's resources are almost completely spent on service, which is easy for the company to justify.

Knowing these rules, some borrowers are somewhat cunning. They undertake to take out insurance in order to get better conditions for the loan, after which they try to return the loan insurance from Sberbank ahead of schedule, meeting the 30-day deadline. But this client, having received a one-time benefit, is blacklisted and will have problems obtaining a loan in the future.

In addition, Sberbank has somewhat protected itself from such tricks. In particular, he issues money for an authorized loan within 30 days, i.e. the client is more likely to delay the opportunity to receive full policy premiums back while the procedure is completed.

How much can you repay if you repay the loan early?

Having figured out whether the loan insurance will be returned at Sberbank, let’s move on directly to the procedure. It goes through the following stages:

Sberbank Insurance (or another insurer) can return money for insurance on a loan in the following amounts from the amount of contributions:

• 100%, if up to 30 days have passed since signing the insurance contract.
• About 50% if 1-6 months.
• About 20% if more than 6 months.
• 0% if more than 6 months.

The company determines the amount based on the specific period and its expenses. To make sure it is up to date, you can ask for an expense statement. These can be internal invoices, accounting documents, certificates of resource consumption, etc.

What to do if Sberbank refuses a refund

If a client is faced with a refusal to provide such reports in 2018, it is worth getting it in writing. This will give you the right to claim compensation through the court. In order to return the Sberbank loan insurance through the court, the application (copy) must also be saved. It is worth doing this in advance, because it is not easy to restore it in hindsight. This method should be chosen when faced with an unlawful refusal or having received permission to issue a visa that is insignificant in the citizen’s opinion.

When preparing for trial, it is worth consulting with a lawyer. He will assess the citizen’s situation from an independent point of view and explain what amounts he can count on.

In court, in any case, the insurer will be obliged to explain what amounts of the client’s contributions were spent and for what purposes. If a lot of time has passed since the policy was issued, the more likely it is to prove that the client has virtually no remaining money. Therefore, it is worth assessing how profitable recovery through the court is. Sometimes the money received may not even cover the costs of the trial.

Conclusion

When deciding to return the insurance after repaying a loan from Sberbank in 2018, it is worth remembering the rules and legal requirements described above and making a decision based on your situation. If the benefit is insignificant, then you should visit the office and simply terminate the contract or write an application to change the name of the beneficiary from Sberbank to an individual, for example, your relative.

Insurance is still an integral part of certain Sberbank loan products, in which the client provides collateral as security. They are still trying to impose insurance when issuing consumer credit products. In this regard, clients are wondering what percentage of loan insurance exists at Sberbank today, is it really so burdensome? Maybe it’s not worth making a fuss about extra pennies, which also provide the borrower with tangible benefits?

First, let's evaluate the degree of burden of loan insurance for the borrower's budget. Today, the average cost of insurance in the Sberbank Insurance organization, which works with clients borrowing from Sberbank, is 3% of the issued obligation. Is it a lot or a little? Let's look at how much money insurance costs cost using a specific example.

1. Suppose a client takes out a loan for 300,000 rubles for 5 years at 13.9% per annum. He signs an insurance contract with a reward of 3% of the amount of the obligation per year.
2. We make simple calculations and find that for the entire period of using the loan the client will pay an additional 45,000 rubles. Sberbank will lend him this amount, adding the insurance premium to the “body” of the loan. As a result, in fact, the borrower takes from the bank not 300,000, but 345,000 rubles, and interest will be accrued for 5 years on exactly this amount.
3. It turns out that if the borrower paid only interest on the main loan of 300,000 rubles, he would have overpaid in 5 years, without early repayment - 117,896 rubles. But if he takes out insurance, then he will have to pay interest on 345,000 rubles, and this is no less than 135,580 rubles.
4. It turns out that due to the amount of insurance, which the borrower also borrowed from the bank, he will overpay 17,684 rubles in interest over 5 years (from 45,000). In total, when taking out insurance for a loan of 300,000 rubles, the client will overpay the bank 62,684 rubles over 5 years.

To make it clearer, 62,684 rubles is the insurance amount (45,000) and the interest that will accrue on this amount over 5 years.

So much for the true cost of insurance. You will have to pay more than a sixth of the amount of the main obligation in order to sleep peacefully. Peace of mind comes at a price! The calculations we presented were made using the Sberbank loan calculator. You can repeat the calculations yourself, substituting any conditions you like, but the result is unlikely to please you, because insurance is very expensive in any case.

What benefits does the client receive?

What benefits does insurance provide to a borrower? The package includes life and health insurance, as well as insurance for changes in financial situation for the worse. If you read the conditions, it turns out that the borrower (or rather his relatives) will be able to receive an insurance payment for the entire loan amount only in the event of death. In other cases, insurance will only partially cover the debt.

For example, in the event of a sharp deterioration in financial situation, the insurance payment will be enough to pay off the loan debt for 4 months. What happens next is the borrower's problem. If he does not find a job or other source of income, the burden of further payments may become unbearable.

Please understand that we are not trying to discourage you from entering into an insurance contract. We are only hinting that the terms of the agreement may not be as profitable as the managers at the Sberbank branch describe to you. Most often, insurance does not cover the expenses that it generates, and this benefits only two entities: Sberbank and its subsidiary insurance company Sberbank Insurance.

What if you don't pay for insurance?

Suppose we decided how much insurance costs and we didn’t want to pay for it at all. What to do? If you take out a mortgage or secured loan, you will not be able to refuse insurance on the collateral, but you may not have life and health insurance. Under such conditions, Sberbank will add another 1% to your approved interest rate and agree to enter into an agreement without insurance.

Sberbank does not have the right to refuse a loan to a borrower because he does not want to insure himself.

If suddenly a borrower takes out a consumer loan of any size, Sberbank cannot require him to enter into an insurance agreement. The trick is that the client checks a special box in the loan application in advance and bank employees know in advance whether he will agree to insurance or not. If the borrower does not tick the insurance box, 1% is added to the loan rate when the application is approved. This is how the bank, as it were, punishes clients who refuse insurance.

Some clients use a trick and enter into an insurance agreement together with a loan agreement. After 1-2 days, they return to the bank and persistently demand that the employees accept an application to terminate the insurance contract, or they go and submit an application directly to the office of the insurance company. The contract is eventually terminated, the insurance amount is returned to the borrower’s account, while the interest rate under the loan agreement remains preferential, as if the client had not refused the insurance.

It turns out to be quite profitable, but you will also have to fray your nerves and the bank employees. They are very reluctant to accept such statements, although they are obliged to do so.

So, loan insurance from Sberbank, as we have seen, can exceed 1/6 of the value of the “body” of the loan. This is too much. We advise you to think a thousand times before signing an insurance contract. Good luck!