Everything about life and health insurance with a mortgage: cost, procedure for concluding a contract and other nuances. What types of mortgage insurance are required? How does mortgage life insurance work?

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 accident 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 provision of. 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 the presence insurance policy The interest rate on the loan will be increased by approximately 1%.

Moreover, Sberbank itself does not force its potential customers to take out an insurance policy with any 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 the size 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 necessary documents;
appeal to 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 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 states:

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 we are talking about 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:

Last modified: January 2020

One of mandatory conditions under the 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 the presence of credit obligations and the property 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, that are subject to insurance protection 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, household appliances, and furniture is provided. The additional service entails an annual increase in the cost of the policy for the object of insurance purchased with the help of a loan by a thousand rubles, applying a 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 in case of disputes 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.
Personal insurance of the borrower includes financial protection in case of loss of health, assignment of a disability group, death, disability due to 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?

You should study the subtleties of how an insurance contract is drawn up for the risks of loss of health or death, since it often takes place as part of the conclusion complex agreement with a 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 total amount debt.
RESO will offer the policy at 0.26%.
Ingosstrakh will insure the minimum rate at 0.23%.
Rosgosstrakh will calculate the price of the policy at approximately 0.28%.
Subsidiaries Alfa-insurance and VTB-insurance also belong to expensive insurers - 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 of 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 a reduction in the amount of insurance indemnity along with a reduction in the balance of the 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 obtaining 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 leads to loss of earnings, and the duration of sick leave exceeds 30 days, the client also has the right to rely on 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. The lack of a personal insurance policy for a 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 insured. 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 amounts, 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. 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 is better to evaluate all 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.

free question lawyer

Do you need advice? Ask a question directly on the site. All consultations are free / The quality and completeness of the lawyer's answer depends on how fully and clearly you describe your problem:

Due to the significant prices for residential premises in the real estate market, the population has to resort to credit obligations. The most suitable product offered by the bank is mortgage lending, which requires mortgage life insurance. This procedure is mandatory, it consists of a set important nuances.

Any banking organization puts forward a number of requirements for the safe conduct of the transaction and the return of the loan. Mortgage dictates issuance Money on the long time and at low interest rates.

During the years of repayment with the client, any unpleasant situation is acceptable that may lead to harm to health, for example:

disability of the first or second group;
untimely death.

In addition, the collateral object is at risk of partial or complete destruction, especially when housing is purchased on the secondary market. Therefore, for safety, according to federal law"On Mortgage Insurance" the object for which a mortgage was issued is mandatory for insurance.

By increasing the term of the loan, more insurance is being implemented. According to the content of the articles of the law, it is unacceptable to force the borrower to carry out life and health insurance with a mortgage, however, taking advantage of this right, banks put forward excessive demands, especially regarding an increase in interest on a loan.

Not a single person has information about what awaits him in the near future, so it is the certificate that will help to avoid further costs. Having insurance, credited persons may not be afraid to get laid off, suffer in an accident, specifically in terms of mortgage repayment. Because insurance companies will pay the loan against the insurance premium. When an accident results in death, full repayment loan, and the property is transferred to the relatives of the deceased.

It turns out that three directions are being promoted within the framework of mortgage insurance:

Home insurance. Refers to a mandatory type of mortgage insurance and is made in case of explosion, flood, fire, flooding, actions of third parties and much more.
Title insurance issued for a period of three years. This type protects the borrower from possible attacks from the former owner, who was declared incompetent, or in case of revealing hidden encumbrances. Most often, this paper is required when purchasing housing on the secondary market or in the presence of several property transactions.
Life and health insurance, carried out in the event of a fatal accident or disability, disability.

Within the framework of a fixed procedure, each SC performs actions aimed at clarifying the details of the case and precisely regulating the circumstances that will classify the accident as such. When the recognition is legalized, the company is obliged to repay the borrower's debt to the bank. The amount of the repayment transfer or the sum insured is equal to the amount of the debt to the bank.

Insured events that will not be reimbursed include death from suicide, alcoholism, drug addiction, AIDS and other actions aimed at fraudulent receipt of remuneration.

The package of documents for carrying out insurance has a short list, especially if insurance takes place at the bank branch where the loan is issued. Then it is enough to have only a passport with you.

In addition, you may need a questionnaire with the client's personal data, which will serve as material for calculating insurance. Numerous characteristics of appearance or bad habits are also taken into account.

To obtain insurance, a package of documents is provided to the UK, which differs depending on the outcome of the accident.

In the event of the death of the borrower, relatives must provide:

Death certificate.
Certificate of cause of death.
An extract from medical card.
In the event of an accident at the workplace, an accident report is formed.
A paper confirming the occurrence of an insured event (issued only by the competent authorities).

it mandatory list papers.

In cases that have become the causes of disability, the following papers are provided:

Certificate-extract from the medical card.
Certificate of diagnosis with a description of the causes of disability.
Certificate of the fact of establishing a disability group.
A document confirming the establishment of a disability pension.

Despite the severity of the incident, it is necessary to meet the deadlines prescribed for the submission of documents. Otherwise, the insurance may be denied.

It is not difficult to get a certificate, for this you need:

fill out a questionnaire;
create an application;
submit to the insurance company.

A prerequisite for filling out the papers is the accuracy of the entered data, which is verified through the documents attached to the application, or in other legal ways. Deception or fraud, as well as the concealment of correct information, may result in the refusal of the company.

How insurance is calculated

The age of the borrower falls on the insurance calculation component upon receipt of the certificate. When the borrower is no longer young, the commission increases. It happens that some companies put forward requirements for medical examination for chronic diseases or other diseases that increase the risk of unexpected diseases or accidents.

According to statistics, men live less, so for the stronger sex, large amounts are billed for payment.

Of course, companies also pay attention to the place of work of the client, because if the production is harmful and hazardous to health, then the risk of diseases and injuries that are incompatible with life increases, this can serve as an increase in commissions paid.

I would like to note that:

banal bad habits;
smoking;
binge;
also overweight

will become a factor stimulating the manager to increase the insurance component.

The main indicator that affects the amount of insurance is the term of payment of mortgage lending and its amount.

Managers, finding out how much mortgage life insurance costs for a particular client, summarizes all its components and receives the final insurance coefficient required for payment.

No information about most profitable bank, so there is no way to accurately answer, since each credit institution has its own advantages. However, it is worth noting the leading financial institution called Sberbank.

This bank offers its borrowers to apply not only to accredited partners of the organization, but also to other companies operating in the market. More often, managers offer to take advantage of insurance within the framework of Sberbank itself. This is quite convenient, there are no excessive requirements for the client and the amount billed for payment.

A new company in the mortgage life and health insurance market is VTB24. Due to the lack of a large number of reviews, citizens are afraid to contact this bank, but it is typical for it to deposit 0.21% of the total cost of the selected housing, which is less than in Sberbank.

In SOGAZ, carrying out insurance requires a mandatory commission, which is paid by the company itself. The client of this insurance company may not contact the branch in order to receive monetary compensation, but simply request them through the official website, leaving a request, on which the manager will contact to clarify the nuances.

One of the best insurers in the area Russian Federation is Ingosstrakh. Clients choose the current company because of the cheap mortgage life insurance policy. An approximate indicator for the insurance premium is 0.22% of the total cost of the selected housing.

These companies are not the only ones on the market, but they are with lower rates. On the Internet, it is discussed that employees of Sberbank of Russia urge or even insist on issuing a certificate in their insurance company. When the borrower does not want to use this insurance company, it is enough to draw the attention of the employee that the official website of Sberbank contains information that health and life insurance is possible in any insurance company that meets the requirements of a credit institution.

On the website of all insurance companies, finding out about life insurance with a mortgage, a calculator is available that performs online calculation interest rates(usually from 0.5 to 2.5% of the amount of the remaining debt on mortgage lending). It is recommended to use the functionality of the functionality only for clarity, since the electronic version cannot take into account the individual parameters of the client, therefore, for the exact rate, it is recommended to contact the organization personally.

To As discussed above, insurance is available for withdrawal, but as a result, the bank reserves the right to increase credit rate.

Of the popular credit institutions, there is the following upward trend in interest rates:

Sberbank - 1%;
Delta credit - 1%;
VTB24 - 1%;
Bank of Moscow - 1%;
Rosselkhozbank - 3.5%.

There is no right to choose in relation to the insurance of a property object related to a pledge. The bank must have money back guarantees in case of property damage.

The insurance covers any unfavorable moments that are not related to fraud, as a result of which it is not possible to make the amount of monthly payments and pay off the debt. After an untimely death, relatives will not have to take on the obligation to repay the loan, since the borrower has insured himself in case of death, temporary disability or disability of groups 1 and 2.

There are many disagreements and conflict situations with the return of funds paid under insurance, this is due to the fact that the borrower does not pay attention in a timely manner to the clauses of the contract, indicating the possibility of returning the funds paid on any terms. When the signed agreement does not regulate the refusal to return funds for any reason, it is possible to return the amount, especially if this happened no more than 10 days after the signing of the papers.

The return of insurance is also possible in case of partial early or full early repayment of the loan.

In this case, the company:

Performs recalculation.
Returns funds to the specified settlement account of the client.

But again, unless other circumstances are specified in the contract. For example, the Bank of Moscow in its contract clearly states that the sum insured taken for the entire period of insurance is not returned in case of early repayment. A possible decision through the court does not always give positive results, but in practice there are cases when the client still manages to return the overpaid sum insured.

When the contract does not contain any information about the return of the insurance premium, an appeal is made to the name of the manager. The document must contain a request for recalculation of the amount of insurance payments made and the remaining insurance payments and the number of the current account to which the amount will be transferred upon adoption of a positive decision.

The reliability of the early closing of the mortgage will be confirmed by a certificate from the bank demonstrating the full repayment of the mortgage and the absence of financial obligations. The paper is attached as an attachment to the completed application.

Without any consequences, the right of refusal is used by the military, since their life is insured by the type of activity and is not mandatory in credit institution.

Main advantages and disadvantages

Having studied all aspects of insurance, the following disadvantages of the operation can be noted:

Significant value of the certificate.
Registration of legal title for a period of 3 years.
When calculating insurance for a collateral object, the amount is paid into the amount of the loan and spread over the months.
Increasing the cost of housing through insurance payments.
In case of refusal of the borrower from life and health insurance, additional payments or an increase in mortgage rates.

Some of these inconveniences for individuals can be a decisive factor in obtaining insurance.

The pluses include:

Borrower security and banking organization from unforeseen life situations associated with a tragic death or disability.
Relatives of the insured do not have to worry about repaying the loan of a loved one, since the insurance company pays the debt itself.
Mortgage repayment is possible in the presence of health problems.
The risk of losing the acquired property is reduced.
The borrower can independently choose the desired insurance company, based on acceptable conditions and interest rates.

However, the listed positive aspects can make a skeptic change his mind and still insure his life.

In the last decades of the last century, a life insurance policy was in almost every Soviet (Russian) family. But the collapse of the economy in 1991 turned contracts with Gosstrakh into pieces of paper and discouraged the population from giving money to insurers. Mass return of service to financial market associated with obligatory types insurance (insurance for credit cars or mortgages). However, by housing loans not everything is clear.

The Federal Law “On Mortgage (Pledge of Real Estate)” dated June 16, 1998 No. 102 obliges to insure only pledged property. The bank also requires additional life insurance for a mortgage, and in some situations, a policy in case of loss of ownership. Is it worth agreeing to the requirements and how much will they cost?

When is a mortgage insurance policy required for a borrower?

As a rule, insurance includes three types at once:

How much will the “triple” peace of mind cost the client?

Life and health insurance will cost 1%.

Property insurance - from 0.1 to 0.25% and Title insurance - from 0.5% to 5%.

If all three objects are insured, and not the mandatory minimum, the conclusion of a complex contract with one insurer will cost less than separate insurance documents for every kind.

The sum insured is equal to the loan amount increased by 10%. The premium payable to the insurer is calculated by multiplying the sum insured by the rate.

So, the title is needed only for the secondary market. Is life insurance worth it? Banks have come up with an "antidote" for those who want to save money on this procedure: they estimate the increase in their risks at 1-2%. The rate for unprotected borrowers rises from 11%-12% to 13%-14%.

What option will allow you not to overpay?

It can be seen from the table that there is no savings in case of refusal of insurance. Given that the policy provides financial protection, you should not refuse it. It is important to choose the right company and delve into all the details of the conditions.

Life insurance: what does the contract protect from?

The policy guarantees financial protection against one of the following events:

1. Death of the borrower from:

accident
an illness that was not known at the time of insurance.

2. Recognition as a disabled person with a complete loss of ability to work.

3. Temporary disability (for a period of more than 30 days).

It is important to immediately notify the lender and the insurer of the occurrence of one of the events and not stop paying off the mortgage until the documents necessary for payment are collected. In the first two situations, the insurer fully compensates the bank for the amount of the debt, and the encumbrance from the apartment will be removed. In the latter case, the indemnity is calculated as the product of the actual period of incapacity for work and the monthly payment divided by 30.

If the package of risks as a whole is the same for insurers, then the list of exceptions varies. This should be remembered when choosing an insurance company.

Before issuing a policy, you need not only to familiarize yourself with its basic conditions, but also to study the Rules of insurance.

Reimbursement may be denied if:

disability or death occurred as a result of the Borrower's intentional actions aimed at causing grievous injury to himself.
the cause of the event was the use of alcohol, drugs.
the event was accompanied by criminal acts of the borrower falling under the jurisdiction of the Criminal Code.
the cause of the event was drunk driving or “transferring the steering wheel” of your car to another drunk driver.
there was a suicide (suicide attempt) of the borrower in the first two years.

These circumstances must be proven by the employees of the insurance company. The payout case will definitely “stall” for the duration of the criminal proceedings, if any.

It is theoretically possible to change the standard terms of the contract, but large insurers are unlikely to do this for the sake of one new insured. Therefore, a careful selection will have to be carried out by the client himself.

When choosing an insurance company, you need to pay attention to the reputation, the availability of a license for this type, real reviews about payments. Not the last factor will be the price of insurance services.

What affects the price of insurance

Perhaps before signing the contract, the client will not only be offered to fill out a detailed questionnaire about himself, but also asked to undergo a medical examination.

The results will certainly affect insurance rate, but in addition to medical nuances, there are accompanying circumstances that affect the price.

Personal data	Related factors
Gender (price for men is higher) Age (the older the client, the higher the rate) chronic diseases Early death of close relatives due to illness Imperfect height/weight ratio Frequent sick leave recently Dangerous profession extreme hobby	Loan amount Intermediary commissions A small number of clients for this type of insurance in the company (the logic of accumulation of insurance reserves does not allow to reduce prices if this type is not massive for the company) Availability of other insurances in this company (loyal customers are rewarded with discounts)

If you have CASCO, OSAGO, VHI, ask your agent if the company can provide special conditions for a life insurance policy for a regular client.

Mortgage life and health insurance is for the entire period of lending. But fees are paid once a year. Before paying, you should ask the bank for information about the balance of the debt (sometimes the insurer does this) so that the agent makes a recalculation insurance premium. Despite the reduction in the sum insured (the “body” of the loan), it is not worth expecting a decrease in the financial burden due to the increase in tariffs caused by the increase in the age of the borrower.

But if the client has lost weight or changed dangerous work to an office routine, the insurer should be informed about this. A recalculation will be made, a new schedule of insurance payments will be formalized as an additional agreement to the contract. It is not reasonable to mislead the insurer about the state of health in order to save several hundred rubles.

Such actions will lead to serious consequences if the deception is revealed. The companies employ a staff of lawyers, medical experts and a security service designed to prevent unreasonable payments.

Video. Mortgage insurance

Pitfalls of insurance payments

Surprises for the client (heirs) in the payment of insurance compensation include:

It can be a consolation that the loan agreement also provides for the release of the parties from obligations under the influence of force majeure circumstances.

How to draw up a contract and whether it can be terminated

To apply for insurance you will need:

identification;
a copy of the mortgage agreement and loan agreement with the current balance of the debt;
in some cases, the results of a medical examination and a certificate from a psychiatrist.

You can apply for a policy:

with your agent
at the insurance broker's office
in an accredited insurance company
with an affiliated insurer

The last method is the fastest, but the first will be the most economical. Tariffs of "pocket" insurance companies or official partners are the highest. They contain the bank's commission for providing a client, the costs of doing business (including wages) of a broker, an insurer. But if it was not possible to resist the onslaught of the loan officer, it is important to know that the client has the right to terminate the policy and conclude in the company where the price and conditions are more attractive. Bank refusal to accept this document will be illegal.

Important: for a year now there has been an opportunity to return money for imposed insurance in the first five days, if an insured event has not occurred (Instruction of the Central Bank of the Russian Federation of November 20, 2015 No. 3854-U) - the so-called "cooling period". The rule applies to mortgage insurance.

You can renew the contract with an alternative insurance company at any time. It is convenient to do this before paying the next installment, having decided in advance on the choice of a new insurer. It is impossible not to renew the policy at all: the contract with the bank provides for severe sanctions from raising the loan rate to the requirement to repay the debt in full the shortest time. Results: you should not refuse voluntary life insurance with a mortgage.

The policy will not only save 10-20 thousand annually, but will also become financial protection for the borrower's family in the event of unforeseen circumstances. It is for this reason that one should choose reliable insurer and before signing, slowly study the terms of the contract.