Life insurance with a mortgage: why is it necessary and whether it is possible to cancel the policy. Is life insurance required for mortgages at Sberbank? Do I need life insurance for a mortgage

Hello! 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 or not it is necessary to issue it. Is it necessary to insure life with a mortgage if you already have a life insurance policy. What sanctions are provided for you if you refuse it. Conditions and offers of insurance companies for this product.

Mortgage insurance is a standard banking requirement when obtaining a mortgage. According to the Federal Law "On Mortgages", only insurance of mortgaged real estate is mandatory - this ensures the financial security of both the bank and the borrower in the event 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, health insurance;
• Ownership (title) insurance.

Pledged property insurance

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

When taking out insurance for real estate, SOGAZ Insurance Company proposes to take out insurance for an apartment under the product "From a Concatenation of Circumstances" for interior decoration, plumbing, appliances and furniture, as well as civil liability for only 1,150 rubles. At the same time, a preferential tariff will be applied to the main product "insurance of an apartment on a mortgage" - only 0.1% of the insured amount.

Life insurance

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

Insurance companies can temporarily pay the borrower's mortgage debt instead of the borrower, they can issue the insurance amount at a time, or they can combine these two options.

The amount of the insured amount, as a rule, is equal to the loan debt and decreases with it. Sometimes the amount even exceeds the size of the entire mortgage loan, but usually by 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.

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

For example, potential applicants for the possession of living space may appear - the result of previous transactions on this property. Title insurance will reimburse the bank for losses and costs associated with the loss of your title.

A remarkable feature of this type of insurance is that you can draw up 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. For the three years during which the insurance policy is valid, any property right other than yours will lose its relevance.

According to Russian law, 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 the legal cleanliness of the apartment purchased with the mortgage raises doubts.

More about mortgage life insurance

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

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

• Death of the insured;
• Obtaining disability, but only groups 1 and 2;
• Temporary incapacity for work 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 take a look at the circumstances under which the insurance will refuse to pay when the above insured events occur:

1. If the borrower has AIDS or HIV and is registered at the dispensary.
2. In case of suicide (if it is not driving to suicide).
3. If alcohol, drugs and other substances that contribute to toxic intoxication are found in the blood.
4. When driving a car or other device without a license to it.
5. If the insured event occurred during the commission of a crime that has been proven by the court.

If an insured event occurs with the borrower on the mortgage, but any one of these circumstances is revealed, then the insurance will refuse to repay the mortgage to the bank and the relatives or the borrower himself will be obliged to pay off the debt to the bank on their own.

Life and health insurance for a mortgage has its own characteristics in terms of the period of recognition of an event as an insured event. So:

1. 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 attracted the borrower's death.
2. In the event of disability - during the insurance period and no later than six months after its end
3. In case of temporary disability - after 30 days of continuous sick leave.

If an insured event has occurred with the borrower and the insurer has recognized it, then he is obliged to repay the borrower's debt to the bank. The sum insured for mortgage life insurance 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 takes place in fact for each day of incapacity for work based on the size of 1/30 of the mortgage payment.

It's important to know! If an insured event “disability” occurs and the payment has gone through it, and then death has occurred, then there will be no more payments. If at first there was a payment for temporary incapacity for work, and then death or disability occurred, then payments for temporary incapacity for work will be deducted from the sum insured. Insurance payment will be made only for the borrower who is 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 payments and the borrower will be obliged to make further payments on his own.

The insurance period is one year. Each time you will need to contact the insurance company, and renew the insurance for the 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. Look at the paragraph on insurance. Perhaps it contains a condition according to which the bank is not entitled to oblige you to insure life and health in subsequent years. This will significantly save on mortgage maintenance.

Payment documents

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

1. Application for payment.
2. Death certificate indicating the reason (if the borrower's death occurred).
3. Inheritance documents from relatives.
4. Certificate of disability and documents from a medical institution confirming the fact of an accident or illness with the onset of disability.
5. Documents confirming the fact of incapacity for work, indicating the number of days and connection with the insured event that occurred.
6. Certificate from the bank with the size of the amount to be transferred and details.

Documents on an 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 delay department.

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

How much does life insurance cost

The exact rate and cost of life insurance for a borrower is determined by many factors. Insurance agents look primarily at your age, gender, health, and the size of your mortgage. Profession, hobbies and lifestyle are also taken into account. The borrower is provided with a special medical questionnaire.

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 be your primary mortgage borrower.

It is important to remember that if the information that you provide in this questionnaire turns out to be 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 on your own. In this case, it is very important to take a list of insurance accredited in the bank, each has its own. 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 a bank is more expensive than from insurance companies. Your insurance company may have special discounts for you personally based on the results of long-term cooperation in the framework of mortgage or any other insurance.

Life and health insurance for a mortgage is almost always in combination with the other two types of insurance. Below are the approximate rates.

An 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, you should 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, apartment construction and title. After the calculation, you can apply for a policy online.

And if you refuse mortgage insurance

Is life insurance required for a mortgage? 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 count 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, 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 not the fact that this money will be used to pay off the mortgage, therefore the banks demand to insure life and health, and make the bank the beneficiary under the policy.

Here are the approximate sanctions of the major mortgage banks for canceling insurance:

• Sberbank + 1%
• VTB24 and Bank of Moscow + 1%
• Russian Agricultural Bank + 3.5%
• Raiffeisenbank + 0.5%
• Delta Credit + 1%

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

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

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Banking structures convince mortgage borrowers that life insurance will significantly reduce the risks of losing the purchased apartment.

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On the one hand, this is so - in the event of the death of the borrower, no one will evict his family from the apartment if payments on the mortgage loan are terminated.

On the other hand, bank customers are not always ready to incur additional costs in the form of purchasing voluntary insurance policies.

To understand how profitable such a secondary purchase is, you need to study at least a few options for offers from insurers.

This is an obligation or you can refuse

Financial institutions issuing mortgage loans can also take advantage of borrowers' ignorance, their legal illiteracy, to impose the types of insurance that are beneficial to them.

But Russian legislation clearly defines the procedure for registering a mortgage, which also indicates the mandatory types of insurance coverage.

Policies against the following risks are subject to mandatory purchase:

We see that there are no policies that provide protection in the event of a threat to the life of the borrower.

In addition, voluntary types of insurance have been approved by the official legal provisions and norms prescribed by the Central Bank of Russia, from which it is quite acceptable for borrowers to refuse.

The dubious legality of mortgage insurance is confirmed.

It is in this regulatory document that a list of all types of policies that can be waived is given, including the issue of life insurance of the borrower.

You can refuse only if the established deadlines are observed - 5 working days, starting from the day of signing the agreement, purchasing the policy.

List of insurers and their conditions

Do not forget about one precaution - if you intend to get final approval on your mortgage application, then in case of your insufficient income level, you should nevertheless agree to the terms of the bank and accept the offer to insure your life.

Otherwise, either a refusal or an exorbitant increase in interest rates awaits you.

Refusal may be in the event that you are not able to provide a guarantor or a second pledge under a loan agreement, the income is small even when combined with the earnings of your spouse.

And this is not surprising, because any comprehensive insurance when issuing a mortgage to clients is a guarantee to the bank that the loan will be repaid in any case, no matter what happens in the life of the borrower.

If you do not want to receive refusals from banks on mortgages, or an increase in interest rates - agree to, which is included in the comprehensive insurance that accompanies this type of loan.

All the same, you can refuse this insurance within 5 working days - but you will receive approval upon application and will have time to sign a loan agreement with a bank with convenient interest rates.

True, when signing an insurance contract, you will still have to pay the amount of the cost of the policy, or part of it. But it is returned to you by the insurer after your refusal statement.

Consider in a special table the conditions of some insurers who sell policies for the risk of damage, harm to life, health of the borrower in mortgage lending.

Conditions of different insurance companies providing services to protect against risks of threat to the life and health of the borrower:

Mortgage borrower life insurance Sberbank

In PJSC "Sberbank" you can pay for insurance in two ways. The first way is to pay it in a one-time payment along with the payment of the down payment on the mortgage.

The second way is to repay the amounts on a monthly basis together with the amounts on the mortgage schedule. In this case, two repayment mechanisms can also be applied - annuity and differentiated payment.

In the first case, the entire cost of insurance is split into equal shares and scattered over the mortgage loan.

And in the second case, every month the amount of insurance premiums decreases, although they are included in the mortgage loan schedule.

Sometimes Sberbank also makes concessions to its clients and allows them to pay for insurance on a quarterly basis. To do this, you just need to immediately warn the bank to include such a condition in the mortgage agreement.

Then, if the insurance is canceled, the client will simply be refunded the amount that was already paid to them.

Termination of a life insurance contract for a loan should always take place with the agreement of the lender himself.

Therefore, it is necessary not only to apply for a waiver of insurance, but also to notify the bank about it.

He will not change the interest rates, because the contract with you has already been concluded for the mortgage, but then he will have to make sure that other types of payment guarantees may come from you instead of insurance (for example,).

Insured events in Sberbank PJSC are the following situations that may arise during the mortgage period in the life of the borrower:

1. Death of the client naturally.
2. Death of a client as a result of an accident.
3. Damage to health, or its natural violation due to other factors, when the borrower is no longer able to continue to pay the mortgage.
4. Partial or complete temporary incapacity for work - deterioration of health, injury, damage to health due to accidents.

In the first two cases, the insurer covers the entire remaining debt on the mortgage issued to the deceased borrower.

Thus, an apartment, house, dacha or other real estate remains to the relatives of the deceased, and they can enter into inheritance rights by law, registering the property properly in Rosreestr.

Comparison of insurance companies, where conditions are better and more profitable

Each bank cooperates with one or another insurance company, therefore, during the interview, the client will be offered a choice from the general list of insurers.

Nevertheless, according to experts at the beginning of November 2020, insurance companies such as SOGAZ, Sberbank, VTB and Ingosstrakh are considered the most profitable in terms of tariff rates.

In addition to tariffs, these companies also have a very large list of insured events, which is beneficial to the client according to the criterion - "the more risks to insure, the better."

Since August 2020, AHML has been constantly experiencing incomprehensible failures in its work - either he withdraws his own, then not.

The cost of the service from different companies

The setting of tariffs for the sale of insurance policies for the risk of threat or damage to life and health is influenced by a lot of different factors.

The Russian government, the Central Bank or other coordinating state bodies do not set any tariff corridors here, as, for example, is practiced when forming a pricing policy for compulsory motor vehicle insurance ().

In this case, insurance companies act at their own discretion and make settlements in accordance with their rules.

• the age of the policyholder;
• the gender of the policyholder;
• where does the client work;
• how the medical board evaluates the client's health;
• whether the user has any chronic diseases;
• at what level is the financial condition of the borrower and, in the aggregate, the income of the whole family;
• what is the total amount of the mortgage loan;
• whether the client has other types of policies.

It is necessary to take into account one more detail that if a client is found to have chronic diseases, or a deterioration in his health condition in an irreversible way, insurers may refuse to provide him with theirs.

In total, the amount of such insurance is usually at least 0.3-2% of the principal amount borrowed from the bank for the purchase of real estate.

If such a guarantee is connected for a mortgage, then you will not need to use a loan guarantor, or provide the bank with an additional one.

Because if there are insurance guarantees, the bank may be quite enough of them to make sure of the timely and stable repayment of the loan in the future.

We propose to study the rates of different insurers for the protection of borrowers when obtaining a mortgage for risks that threaten the life and health of the client.

Tariffs from different companies for policies on the risks of the borrower's death, disability or illness that prevents him from paying the mortgage:

What is the package of documents provided upon registration

There is no difference in which bank you buy real estate on a mortgage loan, the procedure for issuing an insurance policy for the risk of threat or damage to life will be the same.

The package of papers is also provided for all cases the same and represents the following list of documents:

• an application filled out by the borrower himself;
• filled in by the person who writes the application (sometimes this document is combined into one with the application form);
• the borrower's civil Russian passport;
• a copy of the mortgage contract with the bank;
• the conclusion of the medical board (at the request of the insurer).

Most insurance companies are not required to present a health certificate from doctors at all. But then they raise rates when pricing the client's policy.

But if you prove by documents that you do not have any serious illnesses and you are healthy, then you can count on a significant decrease in interest when tariffing the cost of the policy.

When you conclude an insurance contract, pay attention to the following important details:

1. What insured events are taken into account.
2. There should be a clear, intelligible and understandable list of insured events.
3. The validity period of the policy must be indicated. Ideal if the term will coincide with the term of the mortgage agreement.
4. Interest on the amount of the mortgage.
5. Detailed information on how, in what volume and procedure you need to make insurance premiums.

When an insured event occurs, the borrower or his relative are obliged to inform the insurance company as soon as possible.

In general, you should always be guided by the instructions written in the insurance contract itself, so as not to violate any deadlines.

It is imperative to report the occurrence of a case in writing. Who pays if the borrower dies is also specified in the insurance contract.

Usually these are the next of kin, who will have to collect the proper package of papers confirming the occurrence of the insured event, and submit it not only to the insurance company, but also to the bank.

Such a package that the relatives of the deceased borrower must collect includes the following documents:

• death certificate or court decision that the borrower died and is presumed dead;
• certificate of the cause of death;
• an extract from the medical institution about the medical history, if this was a key factor in the death;
• the act of an accident at the borrower's work that led to his death;
• other documents confirming the existence of an insured event.

The insurers carry out compensation in 100% of the volume when the borrower died, died. In this case, the entire balance of the mortgage is reimbursed.

When a bank client is injured, disabled and can no longer work, then the mortgage is reimbursed only in the amount of 50-75%.

If the client is simply sick, is being treated, then the mortgage will be paid off with insurance premiums for exactly as long as the borrower is sick.

Mortgage lending is now a fairly common way to purchase your own home. Every borrower has already come across or heard about insurance with such a loan. Sometimes this turns out to be an unpleasant surprise, as it forces the client to fork out extra money. However, life and health insurance for mortgages, although not mandatory, but, according to most experts, serves as a "safety cushion" for both the borrower and the bank.

A life insurance policy for a mortgage obliges the insurance company to pay off the mortgage loan in the event of an insured event with the borrower. Repayment can be partial or full.

Expert opinion

Ingosstrakh is one of the inexpensive and reliable insurance companies in 2020. The list of services provided by the company also includes mortgage life insurance. You can familiarize yourself with the conditions and take out insurance on the official website of Ingosstrakh.

That is, this insurance covers certain risks, namely:

1. Death of the borrower. In this case, you must contact the insurance company during the term of the contract, but no later than 1 year from the date of the accident or illness, which ended in death.
2. Obtaining a disability of 1 or 2 groups. You should contact the insurer no later than six months after the end of the insurance contract.
3. Being on sick leave for more than 30 days. Depending on the insurance company, the payment is made either immediately or after the closure of the sick leave.

In the first two cases, the insurance company pays the entire amount of the outstanding debt. And for long-term sick leave, the calculation is made daily at 1/30 of the loan payment. Life insurance gives the borrower a guarantee that in case of loss of working capacity, the insurance company will continue to pay his debt, and there will be no debt.

An important point: situations are possible when the borrower dies after the disability insurance payment. Then no further payments are due. And if at first the client was on sick leave and the insurance company transferred loan payments to the bank, and then a disability occurred, then payments are due on it. But sick leave payments will be deducted from the total amount.

To insure a co-borrower and be entitled to receive payments, it is required to issue the same life insurance policy for him. Otherwise, if an insured event occurs with the co-borrower, the credit debt will not decrease, and will completely fall on the shoulders of the borrower.

It is important for the borrower to know that the insurance company may refuse to pay in the following cases:

1. The insured has AIDS or HIV and is registered at the dispensary.
2. In case of suicide (except in the case of incitement to suicide, which must be established by a court).
3. If, according to the blood test of the deceased, it is determined that he has consumed alcoholic beverages, narcotic substances.
4. The Insured was driving a vehicle without having a driving license.
5. The insured event occurred in the course of a crime and this has been proven by the court.
6. The presence of a serious chronic illness at the stage of concluding an insurance contract, which the borrower has hidden.

Any of the above circumstances will lead to the fact that the insurance company will not close the debt to the bank. As a result, the borrower himself or his heirs (if they inherit) will have to pay off the mortgage.

Expert opinion

Alexander Nikolaevich Grigoriev

Mortgage expert with 10 years of experience. He is the head of the mortgage department in a large bank, on the account of more than 500 successfully approved mortgage loans.

Events such as the loss of a job, the death of a close relative (including the co-borrower, if a separate policy was not issued for him), delayed wages cannot serve as a basis for contacting an insurance company. In these cases, the borrower should contact the bank directly for a possible loan restructuring, if necessary.

For the bank, this type of insurance is important because of the large credit debt, besides, mortgage loans have a long term. No one can say with certainty what will happen to the client in a given period of time and whether he will be able to pay the mortgage.

Lack of insurance can lead in the future to lengthy litigation and the bank does not always manage to return the loan. There are many nuances in such disputes, in particular, it is impossible to take away the only housing from the borrower. Thus, for the bank, the life insurance policy serves as an additional guarantee that the money will be returned in any case.

Is life insurance required when taking out a mortgage?

The question of whether it is necessary to take out life insurance with a mortgage is very relevant, especially if insurance payments are high. According to Federal Law No. 102 "On Mortgages", it is voluntary. Consequently, the bank cannot oblige the client to take out an insurance policy.

However, due to the increase in its risks, the bank may offer the borrower other, more stringent lending conditions. In particular, increase the interest rate, reduce the term, request a surety, etc.

In general, with a mortgage, three types of insurance are possible:

1. Real estate collateral insurance. It is obligatory by law. The property is insured against destruction and external damage (for example, earthquake, house collapse) for the entire term of the loan. For insurance of interior decoration and interior items, it is necessary to include this in the contract as a separate clause.
2. Health and life insurance. In the event of an insured event on any term of the loan agreement, the insurance company takes over the entire balance of the debt or part of it.
3. Title insurance. If in the past there were controversial issues about property on mortgage real estate, then after the conclusion of the loan agreement, "unexpected guests" in the form of applicants for the borrower's property are possible. Title insurance protects the interests of the bank in the event of loss of ownership of the client. In addition, the borrower can take out separate title insurance for himself in order to have a "safety cushion" in the form of payments from the insurance company if the property is legally unclean. The duration of such contracts is always no more than 3 years, since after that, according to the law, all property disputes are not accepted by the courts. This insurance is not required for mortgages, but the bank may require it if the property being purchased is in doubt.

Read also other articles from our experts:

Where in 2020 is it better to take a mortgage, in which banks are the most favorable conditions, and how to make your mortgage as profitable as possible -.

When selling an apartment on a mortgage, you will certainly come across such a procedure as real estate appraisal. Why is it needed and how it goes, the essence of the procedure and the main features that you will have to face in the article at this link.

3 reasons for insurance

For the borrower, life and health insurance will ease his situation in case of possible force majeure. Otherwise, in case of partial or complete disability, the loan issue will have to be resolved only on its own. The issued insurance policy allows you to count on a number of preferences from banks.

Of these, there are 3 main benefits for the borrower:

1. Reduced percentage.
2. No requirement for a mandatory surety.
3. Smaller down payment.

Of course, there are banks that offer mortgages without mentioning life insurance at all. But the decision in any case remains with the borrower. Tempting offers often hide higher commissions and interest rates, because in the absence of insurance, the bank has to reduce its risks in other ways. We advise you to take out a mortgage loan with life and health insurance, especially with a long maturity.

Expert opinion

Alexander Nikolaevich Grigoriev

Mortgage expert with 10 years of experience. He is the head of the mortgage department in a large bank, on the account of more than 500 successfully approved mortgage loans.

Refusal from life insurance entails an increase in mortgage interest rates by 0.5-3.5% in different banks. The borrower is put forward more stringent requirements, sometimes reducing the maximum possible loan amount, which does not suit all clients.

When choosing an insurance company, bank managers can persistently suggest a particular insurer. This is due to the incompetence of individual employees or due to the need to fulfill the plan for additional services. Meanwhile, the borrower can get insured in any insurance company that meets the requirements of the bank, that is, accredited with it.

We recommend comparing the conditions and cost of insurance in several companies - the difference can sometimes be noticeable. It is often more expensive to insure in a bank, but it also happens the other way around, when a client is offered suitable conditions within the framework of special promotions or due to long-term cooperation with him.

The life and health of military personnel and some other categories of borrowers may already be insured. But you will not be able to refuse such insurance at the bank. The fact is that under this insurance, the borrower himself or his relatives receive the payment, and the money may not be used to pay off the mortgage. The bank needs to be the beneficiary (that is, the recipient of the insurance payment).

Where do they make insurance for mortgages - top 5 companies

Consider the conditions of 5 popular insurance companies in which you can insure life and health for a mortgage. The comparison uses data from the authoritative rating agency "Expert RA" (raexpert.ru) from the rating of financial reliability of insurance organizations that provide life insurance services.

Ingosstrakh

One of the largest and most famous companies on the Russian market. The Expert RA rating agency characterizes Ingosstrakh with high creditworthiness, financial reliability and stability (ruAA).

The organization has attractive offers for mortgage insurance. Ingosstrakh has offices even in small towns and villages. The site has a special calculator that will help you calculate the cost of insurance based on various conditions.

After the calculation, the client will be offered to issue an insurance policy and pay for it online without leaving home. After payment, a letter with a policy, certified by an electronic signature, is received by e-mail. The client only needs to sign it from his side.

Life and health insurance in Ingosstrakh has the following advantages:

1. Large, stable and solvent company.
2. Widespread in regions, small towns.
3. Discounts for online registration. For example, for Sberbank clients, the organization provides a 15% discount when ordering a policy online.
4. There is a convenient calculator for calculating the cost of insurance.

Insurance calculator

You can calculate insurance on a special Ingosstrakh calculator and order it online directly on our website or on the website of the insurance company using this link.

For example, the annual cost of life insurance and disability insurance for a 35-year-old female borrower, for a mortgage taken from Sberbank at 10% for an apartment with a registered title to an apartment with a balance of 1,500,000 rubles, will cost 5,211 rubles (with a 15% discount) ...

Calculated the cost of life insurance in Ingosstrakh

VSK Insurance House

A fairly large and well-known company with a moderately high level of reliability and financial stability (ruA +) according to the Expert RA rating agency.

Ranked 7th in terms of premiums in the life insurance niche. The regional network includes more than 500 branches and offices throughout the country. It is possible to issue a policy online, but the rates are quite high.

Let's calculate the cost of insurance at VSK. The conditions are the same as in the previous example. The cost of insurance under the "Protected Borrower" program will be 5,100 rubles. However, the amount is not final and may change upwards if additional data is indicated (weight, place of work, etc.) when filling out the questionnaire.

RESO Guarantee

The organization is engaged in voluntary insurance against accidents and illnesses, life insurance. The company's reliability rating, according to the Expert RA agency, is ruAA +. An organization with a high level of reliability, creditworthiness and financial stability.

RESO-Garantia is a member of the All-Russian Union of Insurers, and the Federal Self-Regulatory Union of Insurance Organizations. It is the only company that insures clients over 60 years old. The official website has a convenient cost calculator.

Having calculated the cost of insurance on a calculator with the same conditions, we get the amount of 3,555 rubles. The amount may change when specifying additional data for registration of the policy. For Sberbank, the result is not valid, the cost will be higher.

Calculation of insurance in RESO guarantee

Sberbank life insurance

A subsidiary of Sberbank of Russia, it was created to insure the life of its borrowers. In the line of tariffs there is an offer "Protected Borrower" for mortgage clients. It allows you to reduce the rate on the mortgage of Sberbank by 1%.

Expert RA agency characterizes the company with the highest level of creditworthiness, financial reliability and stability (ruAAA). The rating outlook is stable.

Of the advantages, we highlight the reliability and stability of the company, the ability to issue a policy on the official website online with a 10% discount. The maximum balance of debt is 1,500,000 rubles, if the amount is greater, insurance is issued at a bank branch.

The disadvantage is the high cost of the policy - 30-40% higher than that of other accredited insurers. The calculation on the Sberbank website shows that the cost of insurance under the same conditions will be 5,160 rubles.

Life insurance cost in Sberbank

SOGAZ Life

Subsidiary of Gazprom and Bank Rossiya. A serious company with the highest level of financial reliability and stability according to Expert RA (ruAAA rating). Mainly accepts mortgage clients of Gazprombank, who have practically no chance of insuring themselves in another organization.

The company is actively developing classic long-term life insurance primarily for corporate clients, bank life insurance of borrowers, in cooperation with banks, and long-term life insurance for individuals who are not employees of partner companies.

The basic rate of life insurance for Sberbank is 0.21%. With an insured amount of 1,500,000 rubles, the cost of the policy for 1 year will be:

1,500,000 / 100% * 0.21 = 3,150 rubles.

One of the most inexpensive options for Sberbank.

How much does mortgage life insurance cost and why might it rise in price?

On average, life insurance will cost the borrower 0.5-1.5% of the mortgage debt. The policy, as a rule, is issued for 1 year and renewed for the next. With a decrease in the amount of debt, the amount of insurance will also decrease. The borrower also has the right to change the insurance company.

The cost of the policy and the tariff for each borrower is determined by a weighted assessment of a combination of factors:

1. Floor. For men, the risk for this factor is higher, so when there is a choice of whom to put as a borrower and who as co-borrower, it is better to put a woman in the first place. The policy will be 30-50% cheaper. However, there are companies that do not attach significant importance to gender when withdrawing the final amount for an insurance policy.
2. Age. Older people have a higher risk of death or illness, and therefore the tariff for them is higher. The difference in rates between a 25 year old and a 50 year old client can be 5-10 times. Borrowers over the age of 60 are generally denied life insurance.
3. The presence of chronic diseases. They add to the cost of insurance.
4. General health. A medical certificate will be required from the client. Any deviations in one way or another affect the multiplying coefficient. Therefore, most clients prefer to remain silent about illness. We recommend not to hide the truth from the insurer, since the concealment of diseases may serve as a basis for refusing insurance payments.
5. Excess weight. Insurance will be definitely higher for heavier borrowers.
6. Profession. The more risky and dangerous it is, the higher the tariff will be. The risk of an accountant and an employee of the Ministry of Emergencies is significantly different. It is generally difficult for the latter to find a company that will agree to insurance.
7. The presence of an already valid life insurance policy, where the beneficiary is not a bank. It is not taken into account by all credit institutions, but it will not be superfluous to provide it.
8. Credit amount. The higher it is, the more multiplying factors are used by insurance companies.
9. Commission of the bank. Some banks cooperate with insurance companies and charge a commission for attracted clients. Some want 20-50% of the cost of the policy from the insurer, others don't make money on it at all, it all depends on the bank.

How much life insurance will cost is determined and taking into account the nuances in a particular insurance company. Marital status, the presence of children, other debentures, property, etc. can be taken into account.

Comprehensive insurance (life, title and bond) is usually cheaper. Borrowers should be cautioned to take out a life insurance policy before a mortgage is approved. Otherwise, if the bank refuses, it will be impossible to return the money paid.

By considering offers for loans, applicants want to save their money as much as possible. Since life insurance for a mortgage takes a lot of money from the borrower every year, he tends to avoid it. How justified are his aspirations?

Need insurance or not

The current federal legislation indicates that a citizen who has taken out a mortgage loan is obliged to insure the collateralized property. The issuance of a mortgage loan should not depend on life insurance and the health of borrowers. But, bankers impose this insurance. What for? They are driven by the desire to minimize risks. Each lending institution issues a list of insurance companies that are approved by it.

Those who do not agree to contact insurance companies will face an unpleasant moment in the form of an increase in the lending rate by 1%.

This practice is common. This can be seen by analyzing the popular offers of various banks.

But, if the borrower reads the insurance contract, he will understand that insuring his life and health is beneficial for him too. A citizen will be sure that when a difficult time comes for his family, the loan payments will be paid. Life and health insurance in mortgage insurance includes the following set of risks:

• loss of ability to work (injury, interfering with the performance of previous work duties);
• death of the borrower (the loan will be repaid before the heirs register property rights).

Insurance cost

Since it is not property that is insured, but the life and health of a person, the insurance premiums are set by the insurers rather large. Before determining the final amount of life and health insurance premiums for mortgages, employees of insurance companies analyze the following data:

• the age category of the applicant;
• health status (special attention is paid to chronic diseases);
• working conditions (work with hazardous substances, hazardous production);
• work experience;
• financial situation;
• the amount of the mortgage;
• the size of the mortgage payment;
• mortgage lending period.

If the insurer "likes" the applicant in all respects, then he is set a payment in the amount of 0.3% of the mortgage loan. When experts find the transaction "risky", then the insurance contribution can "start" from 1.5%.

The insurance premium is paid annually. If the borrower has forgotten, did not want to pay the next installment, the insurance contract is terminated, and the bank increases the loan rate by 1%.

The insured event has occurred

What to do if the insured event did occur? First of all, the borrower, his relatives (in the event of the client's death) notify the banking structure and the insurance institution of the incident in writing.

The letter is drawn up in three copies: one - to the creditor, the second - to the insurer, the third - to the sender. On the paper that remains with the debtor (his representative), the above organizations put notes on receipt.

If the documents were sent by mail (registered mail with notification), then it is necessary to keep both the receipt of the shipment and the notification of receipt by the addressees of the letter.

The insurer's specialists are required to confirm the occurrence of the insured event. To do this, they need to provide the following papers:

• death certificate (if any);
• copy of your passport;
• a copy of the certificate of pension insurance;
• sick leave;
• medical report on the nature of the disease;
• certificate of disability assignment;
• employer's orders to reduce, liquidate;
• labor with a note of dismissal (its page photocopy);
• other documents.

After checking the received materials, the amount is transferred to the beneficiary - the bank. If the transferred amount is not enough to fully repay the mortgage, the borrower (his heirs) repay the balance.

The insurance institution refused to pay

In such a situation, the court will help. The right to judicial protection arises from the moment a written refusal is received. Photocopies are attached to the claim:

• the internal passport of the plaintiff;
• mortgage agreement;
• pledge agreements;
• loan repayment schedule;
• an agreement confirming the life and health insurance of a citizen;
• receipts for payment of the insurance premium;
• documents confirming the occurrence of an insured event (labor, employer's order, medical reports, etc.);
• letters of notification to a banking organization, insurance institution;
• paper confirming the submission of the necessary documentation to the insurer;
• refusal of the insurer.

The originals are presented to the judge for examination.

The state duty for filing such a statement of claim is not charged.

The question of insurance, when it comes to the life and health of a mortgage borrower, can be considered rhetorical: without this action, most banks will simply refuse a loan. What are the goals of personal life and health insurance for a mortgage, why is it needed by the lender and the borrower, and which side is it more profitable?

Where do legs grow from?

Just a few years ago, no one who applied for a mortgage from a bank seriously considered shirking life and health insurance. The bank said it is necessary - that means it is necessary, and the borrower replied: "Yes" ... The water, as often happens, was muddied by Rospotrebnadzor, which stated that the requirement to obligatory insure life is not provided for by the Federal Law "On Mortgage".

Indeed, the law still speaks of only one compulsory type of insurance - collateral. So, from the point of view of legal casuistry, the lender's categorical requirement to the borrower to issue any other insurance policy is contrary to the law "On Protection of Consumer Rights" (namely, Article 16).

In the course of the trial, the point of view of Rospotrebnadzor found support not only in the court of first instance, but also at the collegium of the Supreme Arbitration Court. The decision of the HAC is not subject to appeal, so since then the bank formally has no right to force borrowers to insure life and health.

But the law is like a drawbar: the bank cannot oblige you. And it won't. But he has every right to refuse the coveted mortgage, and "without giving reasons". Of course, a reasonable borrower will understand why he was deprived of a pass to the apartment paradise, but he is unlikely to be able to prove this in court.

Over the five years that have passed since the precedent arose, the situation has changed little: most of the banks issuing mortgage loans (according to experts, more than 90%) have retained the requirement of life and health insurance as a prerequisite. And borrowers, although they know about their rights, are insured and do not rush to court. That is, the state of "no peace, no war" has been achieved. And if you look at it, the reasons here are not at all in the "slavish obedience" of mortgage holders: it's just that most of them are conscious and cautious people of mature age, and they understand that for 10, 20, and even more than 30 years of loan repayment, the risk of an insured event is enough high. Especially in our God-saved country, in our troubled times ...

Miser pays twice

Let's say you are young and self-confident, and do not want to pay for the abstract risk of a "brick on the head". Let’s also assume that you have found a nasty bank that appreciated your excellent health and safe profession and agreed to issue a mortgage without your life insurance. Will this mean that you have won on all the boards? Not at all.

Firstly, the bank, realizing that it has increased the risk of non-repayment, is likely to simply raise your mortgage rate, where it will “put” your losses in case of your illness, injury or even death. Secondly, you voluntarily or involuntarily expose your relatives to the blow: after all, if you lose the opportunity to pay off the loan, then they will most likely have to pay off the debt, otherwise the question of forced eviction from the apartment will arise ... Thirdly, in case of a serious illness medical expenses will inevitably be added to the mortgage burden. And in these circumstances, the insurance premium that will keep you home will not be superfluous ...

Even if you prudently stock up on rainy day stocks, they may not be sufficient: you cannot discount inflation and other risks of financial loss.

Life insurance issue price

Comprehensive life and health insurance is the most expensive in the mortgage insurance package. This is not surprising: the most expensive are those policies for which the risk of an insured event is assessed as moderately high and high. The older the borrower, the more chronic diseases he has, the higher the risk and the higher the insurance rate. In this case, insurance premiums must be made annually, throughout the entire loan period (the amount of the premium is calculated anew each time, depending on the balance of the debt).

The average market value of an insurance policy for the risk of loss of health or disability is 1.3–1.5% per year of the cost of a loan (and almost never exceeds 2%). So, with a loan of 1 million rubles, the payment for the first year will be 15,000 rubles. Further payments will be calculated at the beginning of next year for the outstanding balance.

BBanks and insurance companies, mutually interested in the fact that borrowers buy policies "voluntarily and with a song", try to meet them halfway and offer various promotions and programs that allow reducing the insurance rate, sometimes quite significantly - up to 0.5-08%. Over several years, a half-percent discount will provide significant cost savings.

For example, taking a loan for 2 million for a period of 15 years at an insurance rate of 1% and receiving a discount of up to 0.5%, over all the years of lending, you will save about 200,000 rubles on insurance in total (which is comparable to savings on bank interest).

Help: every borrower should know this

1. In the first year, the premium is paid on the full amount of the issued mortgage loan. In the future, its size is calculated based on the balance of the outstanding loan.
2. Timely payment of premiums in full guarantees the insured person, upon the occurrence of an insured event, the payment of an insurance premium.
3. The list of cases recognized as insurance, as well as the amount of premiums are determined by the terms of the insurance contract. With a mortgage, depending on the tariffs and the type of policy, the insurance premium can be either a periodic payment of credit tranches or a full repayment of the balance of credit debt.

I didn’t participate, didn’t participate, wasn’t involved ...

In fairness, let's say about the negative aspects of insurance. The most important inconvenience is the interference of strangers in your private life, “examining under a magnifying glass” of your medical record and leading questions in the questionnaire: how often do you drink alcohol ... Most borrowers consider the requirement of insurers to undergo a medical examination, and even in a certain clinic, to be irrepressible. And the bank is likely to support this demand ...

But put yourself in the shoes of lenders and insurers. They do not crawl into your intimate secrets out of curiosity. As the saying goes, "nothing personal." The bank is concerned about your health only insofar as this resource should be enough for you for the entire loan repayment period, and it can be quite long. Well, the insurers ... Believe me, they, like no one else, wish you immortality and eternal youth. Indeed, under such conditions, the insured event will never occur. And vice versa: if you thoughtlessly take out insurance for a chronic alcoholic who, having taken a couple of bottles on his chest, goes to jump from the bungee, the insurance premium will have to be paid very soon.

Of course, this is an exaggerated example. But the fact that the "boring" of insurers is quite reasonable is an indisputable fact. And it is better to "beat the enemy with his own weapon", that is, also show yourself a bore: undergo an examination, pass the necessary tests, keep all medical certificates and appointments, accumulate evidence that you lead a respectable and peaceful life. Then, if a thunderbolt does strike and you do become incapacitated, insurers will not be able to cut insurance premiums on the grounds that you have hidden a chronic illness or dangerous hobby.

Another tip from the site: learn as "Our Father" the list of insured events, and in advance find a qualified lawyer with experience in litigation in insurance cases, who, if necessary, will reasonably explain to the insurance company that you are entitled to premium payments.

Instead of an epilogue: it is necessary, it is necessary to insure ...

From whatever angle you look at the problem of life and health insurance with a mortgage, the conclusion suggests itself: it is necessary to insure. Moreover, it is profitable to insure!

Most of all the nerves to mortgage holders are spoiled by the obsessive thought: “What will happen if I cannot repay the loan? Will I really lose my apartment? " Alas, this risk is real, especially if the mortgage loan is actually taken against a salary, and the stability of income directly depends on the state of health. But it is with the help of insurance that it can (and should) be minimized.