How to insure life and health for a mortgage. Mortgage life insurance for the borrower

Last changes: January 2020

One of the prerequisites for a mortgage is insurance. The bank, considering the application, will definitely take into account the client's willingness to take out life and health insurance with a mortgage. Meanwhile, not everyone knows that the bank and the accredited insurer include optional options in the package of insurance services. Before a mortgage transaction, it is recommended to understand the features and consequences of refusing insurance or accepting the proposed option.

Features of mortgage insurance

A borrower who is aiming for a speedy registration of real estate often forgets to pay attention to insurance issues, which allows the bank to profit by offering all possible options.

Mortgage insurance is inherently linked to having credit obligations and the real estate itself. Other options are subject to mutual agreement between the client and the bank.

There are three types of insurance products offered to a future borrower:

Protection of collateral. The pledged property, in the process of ownership during the entire mortgage term, is daily exposed to the risk of flooding, fire, partial or complete destruction. It is housing square meters and are subject to insurance coverage in case of loss. If only the finish is damaged, compensation for property is not due by default, but can be supplemented by a separate clause of the contract, as is done in Sogaz, where compensation for damage to plumbing equipment, home appliances, and furniture is provided. The additional service entails an annual increase in the cost of the policy for the insurance object acquired with the help of a loan by a thousand rubles, applying the rate for a single property insurance of 0.1% of the insurance amount.
Title insurance provides protection against loss of title to property. Its validity period is three years, i.e. term adopted in Russia limitation period. Title insurance protects against the risk of losing legal authority to dispose of housing. Title insurance upon occurrence controversial situations with real estate is priceless - the buyer, if he does not defend his rights in court, will receive compensation to pay the debt to the bank. If there is a legitimate applicant for the object (heir, tenant, owner), the company will pay the bank all expenses, return the amount of the remaining debt. An important feature during registration: the bank will receive the payment for the insured event, which will then direct the funds to liquidate the mortgage debt. If desired, the client has the right to conclude a separate agreement, according to which, in the event of an insured event, the payment will be received by the creditor and the client himself.
Borrower's personal insurance includes financial protection in case of loss of health, assignment of a disability group, death, disability as a result of an injury.

The above reasons lead to deterioration financial position client, loss or reduction of earnings. The insurance company undertakes to fulfill mortgage obligations for the client in the event of an insured event.

The last two options from the list above are not mandatory for a mortgage, which the lender is silent about. As a result, the client overpays to insurers, not even suspecting the possibility of refusing title and life insurance.

Other clients, on the contrary, insist on a full package, doubting the legal purity or fearing health problems in the future. In most cases, this gives best percentage on a mortgage, so the borrower readily insures himself and the title, assessing the risks of an insured event.

How to apply?

It is necessary to study the subtleties of how an insurance contract is drawn up for the risks of loss of health or the onset of death, since it often takes place as part of the conclusion of a comprehensive contract with mortgage borrower. Often the bank limits the choice of insurance companies to the number of accredited organizations. Therefore, you will have to choose where it is cheaper to issue a policy, taking into account the established restrictions.

To issue a policy, you will need a standard list of documents of the borrower, as well as the preparation of a questionnaire proposed by the insurer indicating basic information about the health and lifestyle of the insured. By virtue of the principle of voluntariness, the law is not entitled to establish uniform standards for calculating the cost of the policy.

This leads to the fact that the price of the policy is calculated differently by each insurer:

Sberbank will offer to insure through its own insurance company at a cost of 1% of the total debt.
RESO will offer the policy at 0.26%.
Ingosstrakh will insure at a minimum rate of 0.23%.
Rosgosstrakh will calculate the price of the policy at approximately 0.28%.
Expensive insurers include affiliated companies Alfa insurance and VTB insurance - there the rate reaches 0.33-0.38%.
In Rosno (Alliance), a personal policy will be issued using a rate of 0.66%. The presence of a personal policy makes it possible to receive significant discounts on other types mortgage insurance- title and property.

Of course, the bank will primarily take care of the interests of its own subsidiaries, so with a high degree of probability it can be assumed that VTB will issue a policy through its own company and is unlikely to agree to consider alternative options. Similar solutions are ready for borrowers at both Sberbank and Alfabank.

When the circumstances described in the contract with the insurance company as an insured event occur, the company can immediately repay the borrower's debt, based on the insured amount. Another option is allowed, when the company takes on the monthly burden, paying the bank mortgage payments along with interest. According to the insurance rules, payment calculation is based on the reduction of the amount insurance compensation along with a reduction in debt. However, this does not exclude the possibility of receiving an amount exceeding the value of the debt by up to 10%.

Insurers often indicate the following situations that give the right to receive compensation:

The death of a man. If the debtor who has not paid the mortgage has died, the presence of personal insurance allows you to receive payment if you apply within the first year after the fact of the insured event.
Assignment of 1-2 disability groups. If the deterioration of health has led to the status of a disabled person, you must contact the UK at any time, but no later than 6 months after the end of the contract.
Loss of ability to work. When the borrower becomes seriously ill, which led to the loss of earnings, and the duration of being on sick leave exceeded 30 days, the client also has the right to count on an insurance payment. In the latter case, the company reimburses only the period when the mortgage client was absent from work due to illness. The benefit is calculated on the basis of 1/30 of the monthly payment throughout the duration of the illness.

In the process of exercising rights under insurance, there are important point- You can use it in full only once. For example, when a client first received a disability and then died, compensation is paid only 1 time, according to the amount of the client's debt. If the mortgage is issued for two, the co-borrower insures himself under the same conditions. No policy personal insurance the co-borrower does not give the right to payments to the main borrower if the insurance event did not occur with him.

When they refuse to pay

Issuing a policy does not always guarantee that you will receive payment upon the occurrence of an insured event. There are a number of situations to which the rules of personal insurance do not apply:

the policyholder is a carrier of HIV or has been diagnosed with AIDS;
the death of the insured occurred as a result of suicide (unless it is proved through the court that the borrower was driven to suicide);
when drugs or alcohol are detected in the blood, when determining the circumstances of the death;
the debtor died as a result of an accident, subject to driving without a driver's license;
the cause of the insured event was the commission of a crime, and there is a corresponding court order;
establishing the fact of concealment from the company of a serious diagnosis, which could affect the decision on the acceptance by the insurer of the terms of the contract.

The insurance company is unlikely to part with the money without a serious check of the circumstances of the occurrence of the insured event, and in the event of any discrepancy, it will not fail to refuse to fulfill its obligations. For this reason, before entering into an agreement or applying to the UK for payment, it is recommended to consult a lawyer.

Faced with a refusal to reimburse, instead of the deceased borrower, heirs, guarantors and co-borrowers will have to pay the debts to the bank.

It is important to remember that personal insurance is not a guarantee against all troubles. When a person loses his job or the employer delays payments, there is no reason to consider the event as insurance. Subsequent financial troubles are resolved with the help of or in another credit institution.

Do you need to be insured?

Mortgage life and health insurance always entails additional costs, while the occurrence of an insured event is unlikely. As a result, the client annually overpays large sums, which for the entire period of lending can amount to an impressive amount.

Based on the federal law on mortgages, it should be remembered that, according to Art. 31, payment for insurance of property pledged under a mortgage is an integral condition of the contract. However, neither the lender nor the insurer has to demand to buy a personal insurance policy. When faced with a persistent offer to insure, in a conversation with the bank, one should refer to the consumer's rights and the relevant law, which expressly prohibits the imposition of services.

After giving up personal insurance, you need to be prepared to raise your mortgage rates. The Bank reserves such a right and its actions will be recognized as legal. As a result, mortgage payments will increase.

In addition to increasing the interest, the bank may revise other terms of the transaction - require the involvement of a guarantor, reduce the loan period or take other retaliatory measures. When deciding whether or not to insure your own life with a mortgage, you should not immediately refuse. It's better to appreciate everything possible risks and consequences and make the right informed decision.

Intending to abandon the policy, the main thing to remember is that without insurance, the client becomes vulnerable, and in the event of death, his relatives will have to pay tidy sums to formalize the inheritance. If the client's position is unstable, the decision not to insure oneself against loss of health or death can cause a lot of inconvenience - claims from banks, problems with finding funds for repayment. All these consequences could have been avoided if the borrower had issued a policy in a timely manner.

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Welcome! The topic of our meeting today is mortgage life insurance. From this post you will learn about life and health insurance with a mortgage, whether it is mandatory or not to issue it. Is mortgage life insurance mandatory if you already have a life insurance policy? What sanctions are provided for you if you refuse it. Conditions and offers of insurance companies on this product.

Mortgage insurance is standard bank claim when getting a mortgage. According to federal law“On Mortgage”, only insurance of mortgaged real estate is mandatory - this ensures the financial security of both the bank and the borrower in case of force majeure or other circumstances. But often banks offer, and sometimes even impose, the so-called comprehensive mortgage insurance, which includes:

Real estate insurance;
Life insurance, health;
Property right (title) insurance.

Mortgage property insurance

The real estate that you purchase with a mortgage is insured for the entire term of the mortgage loan against loss or damage. Only real estate (constructive) is subject to insurance, not including interior decoration. To insure the rest of the property, it is necessary to include it in the contract additionally.

When applying for real estate insurance, SOGAZ Insurance Company offers to arrange apartment insurance under the “From Coincidence of Circumstances” product for interior decoration, plumbing, appliances and furniture, as well as civil liability for only 1150 rubles. At the same time, a preferential rate will operate on the main product “insurance of an apartment on a mortgage” - only 0.1% of the sum insured.

Life insurance

This type of insurance involves receiving insurance payments in cases of the borrower's disability, death, injury, serious illness - everything that will entail a violation of payments on a mortgage loan.

Insurance companies can temporarily pay instead of the borrower for his mortgage debt, they can issue the sum insured at a time, or they can combine these two options.

The amount of the sum insured, as a rule, is equal to the debt on the loan and decreases along with it. Sometimes the amount even exceeds the size of the entire mortgage loan, but usually no more than 10%.

Title Insurance

Unlike the previous two types of mortgage insurance, you can insure your property right for no more than three years. This is the maximum "shelf life" of any property rights.

Mortgage title insurance can protect you from losing ownership of your home. If in the past the apartment you are purchasing with a mortgage had controversial legal issues and any obligations remained on it, then a situation may arise where you will have to defend your ownership of the purchased housing.

For example, possible applicants for the possession of living space may appear - the result of previous transactions for this property. Title insurance will reimburse the bank for losses and expenses related to the loss of your title.

A notable feature of this type of insurance is that you can issue a separate policy in which you will insure the ownership of real estate not only in favor of the bank, but also in your favor. This will protect you from possible unpleasant consequences. In the three years that the insurance policy is valid, any ownership other than yours will be out of date.

According to Russian legislation, this type of insurance is optional for the borrower when applying for a mortgage. However, the bank may oblige you to insure the title if legal purity an apartment purchased with a mortgage raises doubts in him.

Learn more about mortgage life insurance

First of all, let's understand why this insurance is needed. Life insurance allows you to fully repay the borrower's mortgage debt at the expense of the insurance company. This obligation arises to the insurance company if one of the insured events specified in the policy occurs. Let's label these risks.

Mortgage life insurance covers the following risks resulting from illness or accident:

Death of the insured;
Obtaining disability, but only 1 and 2 groups;
Temporary disability for more than 30 days;

But it is very important to understand that there are certain conditions under which the insurer will refuse to pay the borrower. Let's look at the circumstances under which the insurance company will refuse to pay out upon the occurrence of the above insured events:

If the borrower has AIDS or HIV and is registered with a dispensary.
When committing suicide (if it is not bringing to suicide).
If alcohol, drugs and other substances that contribute to toxic intoxication are found in the blood.
When driving a car or other device without a license.
If the insured event occurred during the commission of a crime, which is proven by the court.

If a mortgage borrower happens insurance event, but any one of these circumstances is revealed, then the insurance will refuse to repay the mortgage to the bank and relatives or the borrower himself will be required to repay the debt to the bank on their own.

Mortgage life and health insurance has its own characteristics in terms of the term for recognizing an event as an insured event. So:

For the risk of "death", it is necessary to contact the insurance company during the validity of the insurance contract, but no later than a year from the moment of the accident or illness that caused the death of the borrower.
In the event of disability - during the insurance period and no later than six months after its expiration
In case of temporary disability - after 30 days of continuous sick leave.

If an insured event occurred with the borrower and the insurer recognized it, then he is obliged to repay the borrower's debt to the bank. Sum insured in case of life insurance on a mortgage, it is the amount owed to the bank. It is this amount that the insurance company will transfer to the bank, with the exception of the risk of temporary disability. There, payment is made upon the fact for each day of incapacity for work based on the size of 1/30 of the mortgage payment.

It is important to know! If an insured event “disability” occurred and a payment was made on it, and then death occurred, then there will be no more payments. If at first there was a payment for temporary disability, and then death or disability occurred, then temporary disability payments will be deducted from the sum insured. The insurance payment will be made only for the borrower indicated in the policy. If the insured event happened to the co-borrower and he does not have such a policy, then there will be no payment and the borrower will be obliged to make further payments on his own.

The term of insurance is one year. Each time you will need to contact the insurance company and renew the insurance for next year otherwise there will be sanctions from the bank. We will talk about them in the last part of the post.

Important! Read the mortgage agreement carefully. See the section on insurance. Perhaps there is a condition under which the bank does not have the right to oblige you to insure life and health in subsequent years. This will save you a lot on mortgage maintenance.

Documents for payment

If an insured event occurs, then the following package of documents must be brought to the insurance company:

Application for payment.
Certificate of death indicating the cause (if the borrower died).
Documents on the right to inheritance from relatives.
Certificate of disability and documents from a medical institution confirming the fact of an accident or illness with the onset of disability.
Documents confirming the fact of disability, indicating the number of days and connection with the insured event.
Certificate from the bank with the amount to be transferred and details.

Documents on the insured event can be submitted through a bank employee. There is no need to stand in queues, as, as a rule, this is a dedicated specialist in the overdue department.

It is important to understand that late fees and penalties will not be reimbursed by the insurance company, so you need to continue paying the mortgage in accordance with the payment schedule until the money from the insurance company is transferred.

How much does life insurance cost

The exact rate and cost of borrower's life insurance is determined by many factors. First of all, insurance agents look at your age, gender, health status and the size of your mortgage loan. Profession, hobbies and lifestyle are also taken into account. The borrower is provided with a special questionnaire with questions of a medical nature.

If the borrower has a lot of weight, then the insurance company may refuse insurance or significantly increase the rate. Keep this in mind when deciding who to make the primary mortgage borrower.

It is important to remember that if the information you provide in this form is false, the insurance contract will be terminated and you will not receive any payments for the insured event.

It should be understood that you can insure life and health both in the bank itself and in the insurance company yourself. At the same time, it is very important to take a list of insurance companies accredited by the bank, each has its own list. Not all insurance companies can be accredited by the bank, which means that the bank will not accept their policy.

As a rule, insurance directly from the bank is more expensive than from insurance companies. Your insurance company may have special discounts for you personally as a result of long-term cooperation within the framework of a mortgage or any other insurance.

Mortgage life and health insurance almost always acts in combination with the other two types of insurance. Below are indicative rates.

Important point! For women, the insurance rate is lower, therefore, when insuring a mortgage, it is better to make a woman the main borrower and conclude a policy for her. This will save you money.

Online mortgage insurance calculator

To find out the exact cost of a mortgage insurance policy, fill in the data in the online calculator on our website. It will allow you to find out the price of the policy, taking into account all the main risks: life, the construction of the apartment and the title. After the calculation, you can apply for a policy online.

What if you opt out of mortgage insurance?

Is mortgage life insurance required? No, this is a myth: no bank has the right to impose this service on you. But, as always, there are pitfalls. Of course, you can opt out of insurance, but then the mortgage rate can rise by 3% or more. Agree you need to calculate before making the final choice.

Very often, military personnel and other borrowers are already insured against the risk of death, disability and loss of the opportunity to work for health reasons at work. The question arises whether it is possible to refuse life insurance in this case. The answer is no. The reason is that under this insurance, the borrower or his relatives will receive the money, and not the bank, and it’s not a fact that this money will go to pay off the mortgage, which is why banks require mandatory life and health insurance, and make the bank the beneficiary of the policy.

Here are the approximate sanctions of the main mortgage banks when refusing insurance:

Sberbank +1%
VTB24 and Bank of Moscow +1%
Rosselkhozbank +3.5%
Raiffeisenbank + 0.5%
Deltacredit +1%

There are a number of banks that do not require compulsory insurance life. This is an indispensable benefit factor when choosing a bank. the insurance premium for the entire contract will be quite significant. Banks that do not require compulsory life insurance - Gazprombank, Globex.

If you did and closed it completely, then you are right. To do this, you need to contact the insurance company and write a statement.

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Mortgage insurance allows you to protect the financial interests of the borrower and lender in unforeseen life situations. Thanks to the insurance company financial institution will avoid non-repayment of loan funds, and the borrower will avoid various risks (not only real estate, but also life and health can be insured), the bank will receive payments according to insurance contract. The presence of a policy required condition when lending.

The insurance covers the risks associated with damage caused to the collateral object (apartment, a private house), disability of the borrower, or his death. Risk of loss of the object of pledge as a result of termination of ownership. You can choose one risk or a combination of risks.

Insurance does not cover the entire cost of housing, but only those funds that the bank issues to you. For example, if the client pays 30% of the amount on his own, and takes 70% on credit, then the policy should cover exactly these 70%.

Mortgage insurance programs

AlfaStrakhovanie offers several programs designed in accordance with the requirements of financial institutions:

Primary application for mortgage insurance.
Transfer from another insurance company.
Maintenance of a mortgage insurance contract.
Voluntary title insurance.

Documents for concluding an agreement

Collateral insurance(real estate) requires a loan agreement, a copy of the appraiser's report and documents that confirm ownership.
With life insurance you need to submit a borrower's application. The insurer may additionally send the insured for an examination or ask for missing medical certificates.
At title insurance Copies of legal documents are required. When the bank has approved the loan, you need to fill out an application for a policy. If by this time you do not have all necessary documents, You can report the data later.

Why insure the life of a client under a loan agreement?

The mortgage agreement provides for payments over 10-25 years. This long term, for which the insured may fall ill, be injured or lose his ability to work. If this happens, he will not repay the debt to the bank. For guard property interests both parties and a health and life insurance policy is issued. the insurance company will pay off part of the payment in the event of a client being on sick leave, and upon his death, the balance under the mortgage agreement.

Not all banks require such a policy, because credit organizations set their own rules for granting loans. As part of property insurance, the company will cover damage caused as a result of:

Flooding.
Fire.
Natural Disasters(storms, floods, floods, typhoons, tsunamis, earthquakes, volcanic eruptions, etc.).
An explosion of gas or facilities where it is stored.
You can include the risk of damage in the contract interior decoration or engineering equipment.

What is an insured event?

The insurance company does not compensate for damage caused as a result of:

The effects of radiation.
Nuclear explosion.
Wars.
interventions.
The intent of the insured or persons acting on his behalf.
Arrest of property by order of state bodies.

What to do if an insured event occurs?

The insured needs:

Report the incident to the appropriate authorities.
Notify the insurer (no later than 3 working days).
Provide information in writing to the insurer and transfer to him the documents received from the relevant authorities.
Leave the object damaged until it is inspected by a company representative.

Please note that if you have not paid the first payment under the insurance contract, then it is considered invalid - the insurer will not compensate for losses. If you have not paid the next installment, the contract with the insurance company is terminated. In this case, a copy of the notification is sent to the bank. The lender bank may revise the terms of the loan agreement due to the fact that the borrower does not fulfill its obligations.

When buying an annual policy, the next payment (not the first one) can be deferred only if the bank has given written consent to this.

What determines the cost of insurance?

The price of the policy includes:

Loan amount.
Bank requirements for the amount of insurance coverage.
Health status, age, gender of the borrower.
Features of real estate - the degree of wear of the structure, the material of the floors.
Object status. If the house is still under construction, then life and health insurance will be required, and if the object is commissioned or you buy secondary housing, then a contract that protects real estate.
The number of previous transactions with this property (if title insurance is issued).

If the borrower partially repays the debt, then the insurer can recalculate the cost of the policy, but this is possible only at the time of the contract extension or the next installment. The recalculation applies to subsequent unpaid contributions.

Features of payment and the period of validity of the contract

If you enter into a contract for 1 year, then you need to make a one-time payment. If a multi-year policy is issued, then payments are made once a year.

In most cases, the duration of the insurance coincides with the period of validity of the loan.

To clarify the details of the program and calculate the cost, contact the company representatives by phone

8 800 333 0 999 (toll-free within Russia).

Reading time: 8 min

Fixed cost insurance policy does not exist, since it largely depends on the conditions of a particular bank and the characteristics of the borrower. In particular, the factors that influence this are:

Features of the mortgage object (that is, apartments or). For example, the cost of the policy can increase significantly if the housing is located in a dangerous area. Title insurance (that is, property rights) will also cost more if the property is purchased on the secondary market.
characteristics of the borrower. In particular, his age and field of activity are taken into account. For example, for a young office worker, the cost may be minimal, and for a construction or manufacturing worker, it can be much higher. This is due to the fact that the insurance company seeks to compensate for possible risks.

The cost of insurance is tied to the amount of the loan and is set as an interest rate.

Most often, it ranges from 0.5 to 1.5% of the total mortgage amount annually.

Receiving compensation in case of an insured event

Upon the occurrence of an insured event, the client (in the event of his death - the heir or ) must contact the insurance company and provide copies of supporting documents. These can be medical certificates, doctor's reports, or a death certificate. It is also worth informing the bank about possible delays in payments and their reasons.

After receiving the documents, the insurance company examines them and concludes whether there was an insured event, and also determines the amount of compensation due to the client.

It is possible that the amount issued will not be enough to pay the debt - in this case, part of the funds will have to be repaid by the borrower himself.

If the insurance company refused to pay compensation at all, it is worth informing the bank about this. Since the creditor has a direct interest in the return of funds, he can conduct his own investigation. There are frequent cases when, after this, the insured is still forced to pay compensation.

Pitfalls when applying for insurance

The main risk that the borrower bears when signing a life insurance policy is the inclusion in the contract of provisions that are unfavorable for him. For example, many companies indicate that if a customer has a chronic illness, HIV infection, or hepatitis insurance payment will not be produced. The list of such restrictions can be more extensive.

As a result, it may turn out that obtaining compensation in practice is generally impossible.

Such a policy is beneficial only to the insured and is of no value to the client or the bank. Therefore, it is the parties concerned who must control the content of the contract with the insurance company and, if necessary, insist on changing its terms.

Is it possible to refuse?

In some cases, the borrower may cancel the life insurance contract during the term of the loan agreement (usually its term is extended annually). However, in this case, he must be prepared for the fact that the bank may require him to immediately and fully repay the remaining amount of the debt.

In addition to refusal, the borrower can change the insurance company by entering into an agreement with another insured. But even in this case, the bank must be informed, without whose consent this is impossible.

It is worth considering that banks do not accept policies from all companies - it must be large and be able to reimburse a significant amount of funds for its client.

In any case, the specific conditions regarding the change of the policyholder or the complete cancellation of the policy are contained in loan agreement. Therefore, at the time of signing the document, all these issues should be studied and agreed upon.

Bank insurance conditions

Almost all big banks, which issue mortgage loans, have agreements concluded with insurance companies on issuing their policies to customers. You can consider the conditions of these policies on the example of market leaders:

Sberbank

Cooperates with several insurance companies and gives the client the right to choose any of them. In this case, the insurance risks are:

death of the borrower (as a result of illness or accident);
loss of their ability to work and assignment of I-II groups of disability.

The insurance rate depends on certain conditions that the client can determine himself, and ranges from 1.99 to 2.99% of the amount of credit funds issued. Maximum size liability borne by the insurance company is equal to the balance of the client's debt at the time of the insured event.

VTB 24

Issues a comprehensive insurance policy, which, among other things, includes risks regarding the life and health of the borrower. This lender's insured events are the same situations as in Sberbank. The cost of all comprehensive insurance is, on average, 1% of the loan amount for one year of the transaction.

For most borrowers, life insurance is an unnecessary service that is imposed by the bank and requires only additional costs. However, in some cases, its presence allows you to receive funds to fulfill your debt obligations, as well as save heirs or co-borrowers from having to repay someone else's loan.

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.

Why take out life and health insurance?

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:

if the borrower dies for any reason (including as a result of an accident);
due to incapacity for work and, as a result, the inability to continue to repay in the future mortgage;
occurrence of various serious diseases.

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.

Obligation to take out an insurance policy

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 clients draw up an insurance policy with a 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.

Terms of Service

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:

in the event of the death of a potential borrower;
in case of loss of legal capacity, in parallel with which 1 or 2 group is assigned.

According to the terms of the program voluntary insurance also provided 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:

the borrower's death was caused by alcohol;
the death of the borrower is caused by diseases such as HIV or AIDS;
death was due to professional sports (for example, death in the ring, and so on).

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.

Overview of company offers

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:

IC "Sberbank" - about 1% of the sum insured;
JSC "Sogaz" - about 1.17% of the sum insured;
Ltd. insurance company VTB Insurance” – about 1%;
Renaissance Insurance Group LLC - about 0.321%.

If speak about insurance company VSK, then here the interest rate for life and health insurance is calculated on an individual basis 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.

The procedure for registration and the list of required documents

If we talk about how life and health insurance of the borrower is carried out, then algorithm has the following form:

collection of all required documents;
contacting an insurance company;
writing an application;
signing an agreement.

Where to go

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.

List of documents

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:

original and copy of the borrower's passport;
the original medical report, which confirms the fact that the borrower has no serious illnesses.

After the entire package of documents is ready, including the application itself, the insurance agent draws up an agreement, which specifies:

period of validity of the insurance policy;
what is the sum insured;
conditions under which an insured event occurs;
what does not apply to the insured event;
passport details and initials of the insured person;
signatures of both parties.

Actions in the event of an insured event

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).

Benefits of Life and Health Insurance When Taking a Mortgage Loan

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 here in question 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: