Getting a loan from a bank is a procedure during which a borrower sometimes has to pay certain types of commissions and also enter into a loan insurance agreement. If the entire amount of the debt is repaid ahead of schedule, the borrower has the opportunity to receive a refund of insurance on the loan. There are several ways to do this.
Situation in the structure
Not so long ago, almost all banks introduced new obligations for borrowers in the form of health, life and property insurance. Now, when drawing up a loan or a loan, a bank client must sign an insurance contract. Because of this, there is a need for additional funds. But the legality of compulsory insurance is sometimes a big question. And if you know this, then it is quite possible to get a loan insurance return. The law currently in force allows this to be done.
Loan protection
Banking institutions insure the amount of the loan in order to protect themselves and get back the funds issued to the client, in any circumstances. Current legislation suggests that health and life insurance is voluntary, but collateral must be protected. In fact, many banks impose absolutely all types of insurance on customers, however, in the case of a vehicle or real estate, which act as collateral for a bank, this procedure is also quite beneficial for the borrowers themselves. If unforeseen circumstances arise in the form of partial destruction or complete destruction of the house, then the insurance company will have to close the rest of the debt. However, quite often, such a contribution acts as an expensive and redundant option, and repayment of loan insurance is not always available.
If the borrower is confident that he will be able to repay the loan soon, then such an additional service will only take away his money. It is worth agreeing to conclude an agreement with the insurance company only in those situations when a loan is taken for a long period and there is a great risk of loss of solvency in the event of job loss due to job cuts or health loss. These are insured events, so you can expect that the company will be reimbursed cash.
Contract execution
When a borrower receives a loan, quite often various commissions are paid, about which he was not notified in advance. Often he has to pay the so-called insurance amount. If there was no such agreement, then you can contact the financial institution with a written application for the return of insurance on the loan. If the bank agrees, the borrower will receive his funds. If you do not agree, then you can file a lawsuit. Credit insurance will be refunded upon resolution of the case in favor of the borrower.
"Underwater rocks"
When a client decides to conclude a loan insurance agreement , he needs to study all the conditions specified in it as carefully as possible. It indicates the amount of the policy, and also lists the points regarding the possibility of returning the insurance amount in different situations, in particular if the contract is terminated. The borrower has the right to offer certain and essential terms of the contract on which he is ready to assume the obligations.
Subjects of the contract
- Health and life of the person to whom the borrowed funds are issued.
- Real estate that is acquired under a mortgage program, and then acts as collateral for a pledge. It should be noted that the return of mortgage insurance has certain features, which will be described later.
- A vehicle that was purchased with a car loan.
Such types of insurance are intended to give the client the opportunity to pay off credit debt in a situation when an insured event occurs.
Description of procedure
How can one get a loan insurance return in different regions of our country? Ufa, for example, is a city in which it is possible to obtain it in institutions such as Sberbank and Renaissance Bank. In each case, the situation is considered by specialists. In case of early payment of the entire loan amount, when the insurance contract is still valid, you can get money already given to the insurance company. To do this, a written application for the return of the amount that has been overpaid must be sent to her. In the best case, the company’s employees will make calculations, after which you can count on the return of insurance on a consumer loan. At worst, you will be denied payment, and then you can file a lawsuit with the judiciary. By court decision, the client will be paid the balance of the amount paid, and all legal costs will be paid by the insurer.
In some cases, the terms of the contract may require the insurance policy to be paid annually. In this case, if the loan is fully repaid, the client can stop his payments under the insurance contract, having actually refused the company's services in the future. If the contract does not have any special conditions, then it will cease to exist automatically.
If we continue the conversation about where exactly in certain regions the insurance is returned on credit, Krasnoyarsk is a city in which it is possible to obtain it in institutions such as Sberbank and Renaissance.
Refundable Amounts
When an insurance company agrees to terminate the contract and return the money to the client, it is often aimed at paying the client less than the required amount, reducing it due to the fact that it includes its expenses in the calculation. Loan insurance insurance repayment so far is carried out without any specially developed and approved methods for calculating the amount. In the event of termination of the contract ahead of schedule, only the provision that allows the deduction of funds at the expense of the organization to maintain the contract during the period of its validity is allowed. The client has the right to demand the provision of cost estimates in fact for this time. The basis of this calculation should be laid only a commission to the employee of the company for the fact that he accompanied a specific contract.
Refusal to pay insurance
The company may refuse to pay the client the amount of insurance due to him, referring to certain circumstances:
- Skipping application deadline. Usually it is one month from the moment of the insured event, unless otherwise specified in the contract. If it is impossible to write a statement for some reason, then an employee of the company should be notified.
- The application does not contain the required data: the number of the contract and the date of its conclusion, information about the insured person, and there is no date of occurrence of the insured event or its circumstances.
- Documents on the fact of an accident, necessary for payment, are not attached.
The package of documents may have a different composition depending on the type of insured event:
- the onset of disability involves the provision of a medical certificate and an extract from the patient's card;
- the death of the insured person requires the provision of an appropriate certificate from the registry office.
In the latter case, credit insurance will be refunded. "Renaissance" - a bank in which the return is made to the beneficiary specified in the contract, or to the heir. Getting money at Renaissance Bank is not particularly difficult if you comply with the terms of the contract. To do this, you just need to provide a complete package of required documents.
Know your rights!
In accordance with the law “On insurance of deposits of individuals with banks of the Russian Federation”, the process of applying for a loan does not allow financial institutions to require borrowers to insure their health or life. However, most of these organizations, in order to obtain certain benefits, take advantage of the clients' ignorance of the laws and their rights. Most often, clients do not read out the terms of the contract thoroughly, but agree to take out insurance, as they are convinced that this is a prerequisite for lending.
However, the borrower has the right to refuse insurance even after he has signed it. To return the money that was paid on it, the borrower needs to write a statement, and then take it to a bank or insurance company. If the request is rejected, you can contact the court and Rospotrebnadzor with statements of claim. However, in this case, the client will have to pay all legal costs on his own.
Loan agreement
Before contacting, for example, Sberbank, the repayment of loan insurance in which you want to demand, you must carefully study the loan agreement. If it states that repayment is not possible upon early repayment, then the lawsuit will be rejected by the court, because the bank will not violate any rights of the borrower.
A view from a different angle
Insurance can be considered on the other hand. It is a very profitable way of investing money, as well as an opportunity to return your funds in the event of any unforeseen situation.
If desired, the borrower can maintain relations with his insurance company, however, after the loan obligations are completed, it is necessary to renew the contract so that either the borrower himself or his relatives become the beneficiary, and not the bank in which the loan was issued, for example, Sberbank.
Repayment of loan insurance upon repayment of a mortgage or car loan ahead of schedule
Real estate and car insurance are prerequisites for obtaining a loan. This is a tool to protect the bank from possible risks, since the purchased car or property becomes most often collateral. But if the loan repayment was early, and the insurance remains valid, then the borrower has the right to return the balance. For this, a statement is being written, with which you need to contact the insurance company.
In the situation with Sberbank, as with everyone else, everything will be so. If within a month after applying for a loan, the borrower requested a refund of the insurance premium and the bank satisfied his request, he will receive the full amount in full.
In the event that a longer period has elapsed since the loan was issued, the borrower can only expect to return part of the insurance premium. To do this, he needs to contact the office of Sberbank with a passport and a statement. It usually takes about a month to review the situation. If the bank satisfies the request of the borrower, then the funds will be transferred to his bank card or personal account. So does Sovcombank. Credit insurance is not refunded only in the circumstances described above.
conclusions
Before signing a loan insurance contract, you must carefully and carefully study all of its provisions, as well as include in it a clause on the possibility of termination and write down the conditions for the return of insurance. It is recommended to conclude such an agreement if you take a loan for a long term and are not sure that you can repay it ahead of schedule. If you managed to pay it ahead of time, then you can safely write an application for the return of insurance on a loan.