Where is it more profitable to get life and he alth insurance with a mortgage?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

As you know, obtaining a mortgage loan is a very popular procedure today. However, most banks impose certain requirements on borrowers, one of which is compulsory life and he alth insurance. However, many still have questions. Many are interested in whether it is necessary to take out life and he alth insurance with a mortgage, especially paying a fairly decent amount of money for it.

To answer the question of whether this procedure is mandatory or not, it is worth considering in more detail the process of obtaining a policy. It is also recommended to pay attention to the benefits and possible benefits of insurance in relation to a person who wants to get a loan.

What does insurance give?

Everyone knows perfectly well that funds for the purchase of housing, as a rule, are issued for a rather long period (up to 30 years). Such long-term loans are very unprofitable for banks, since anything can happen to a client during this period of time.

If we consider the problem from this side, then in this case we are talking about benefits for the credit institution. Are there any advantages to obtaining such a certificate for the borrower himself? Of course they exist.

For example, if a borrower gets injured that will lead to his disability, then in this case he will not have to pay a huge commission to the bank for the inability to make monthly payments. In this case, the responsibility for payments lies with the insured. In a situation of obtaining disability of groups 1 and 2, the borrower will be insured against additional costs. In the event of the death of a bank client who took out a fairly large loan, his relatives will not have to repay the debt.

In other words, the insurance company will have to cover all bank losses caused by certain circumstances related to the borrower. At the same time, the living space taken on credit is not going anywhere. It will continue to be the property of the borrower's relatives or himself.

If you immediately inform the bank about the accident after the occurrence of an insured event, the risk that monthly payments will be increased is reduced to zero. Also, some confuse life and he alth insurance. The last 2 options are valid throughout the entire term of mortgage lending. This means that you will need to pay an annual fee for the certificate. The interest on insurance will also be recalculated based on the balance of the debt. Therefore, you should think several times before refusing this service. It is best to find where mortgage life and he alth insurance is cheaper. Atit is worth paying attention to several important nuances. What to look out for?

Where is it cheaper?

If we talk about the calculation of life and he alth insurance traffic with a mortgage, then it all depends on individual circumstances. The interest rate can range from 0.5 to 2.5% of the outstanding mortgage debt. Of course, even a hundredth of a fairly large loan will hit the client's pocket hard.

In order to save as much as possible when applying for life and he alth insurance with a mortgage, you should check with a bank employee which particular insurance companies are partners of a credit institution. In this case, one can familiarize oneself with each individual firm and consider the existing interest rates.

Although there are online calculators on the websites of insurance companies, they do not always work fully, that is, they do not take into account the individual parameters of customers. It is much more convenient to contact the organization and personally communicate with the manager.

How is insurance calculated?

Of course, first of all, everyone is interested, due to which a significant increase in the interest rate for obtaining a certificate can occur. It should be borne in mind that company employees pay attention to the age of the borrower. If he is not young, then, of course, the commission will be much higher.

Also, customers who take out mortgage life and he alth insurance are asked to undergo a medical examination. Based on data on the presence of chronic diseases and other ailments, a decision will be made on the final cost of the insurance certificate.

Typically, men have to pay large sums to get a form. This is due to scientific evidence and mortality statistics: unfortunately, the stronger sex lives much less than women.

Also, the position of the client can affect the increase in the interest rate. If he works in hazardous conditions in hazardous production, then, most likely, the overpayment will be even higher. In addition, the amount of the loan and the length of the mortgage loan repayment period are taken into account. Also, the manager of the insurance organization always evaluates the external data of the client. If he suffers from too much weight, smokes and drinks, then this is also a negative factor that affects the increase in overpayments.

Return and withdrawal of insurance

Sometimes it happens that clients fill out an insurance form, but suddenly realize that they are overpaying too much. In this case, they can actually return the received mortgage policy. However, keep in mind that this is given a very short time. Usually it is no more than a few days. More exact terms can be found in the contract, they must be spelled out there.

It is also worth paying attention to the clauses in the contract that relate to the calculation of insurance and the possibility of a refund. The UK has the right to draw up a contract at its discretion, so there may well be clauses according to which the client does not have the right to count on any compensation. Worth showingattentiveness and once again ask the manager a question.

Without any consequences, only the military can refuse an insurance policy, since their life and he alth are already insured by occupation.

When can an insurance company refuse to pay?

As mentioned earlier, before signing the contract, it must be studied in detail. The terms of payment must be detailed in it. At the same time, it is important to ensure that the amount of the amount that will be paid upon the occurrence of one or another insured event is indicated.

The contract specifies the obligations of the insured and the insurer. This is very important, because if some nuances were not indicated in the papers, then in this case the company can very easily refuse to pay.

As a rule, in order to receive compensation, it is necessary to collect the necessary documents. This responsibility lies with the insured. The IC has the right to refuse payment in the event that an incident occurs that cannot be categorized as an insured event.

Sberbank

In this credit institution, you can not only get a fairly decent amount of money to purchase a new living space, insurance policies are also drawn up here. In this case, any client of the bank who has issued a mortgage in the amount of up to 11 million rubles is en titled to receive documents.

If we talk about the amount of payment for life and he alth insurance with a mortgage in Sberbank, then the contribution is 130 thousand rubles. However, everything again depends on the individual parameters of the borrower. Other organizations providing similar programs should also be considered.

VTB 24: mortgage life and he alth insurance

This bank also provides its customers with the opportunity to issue a policy immediately upon receipt of funds. However, in this case, the conditions will be much more favorable than in Sberbank. In this case, a client who takes out life and he alth insurance with a mortgage at VTB will have to pay about 0.21% of the total cost of the chosen dwelling. However, most citizens of the Russian Federation still prefer to apply to insurance companies, which have been on the market for a long time and during this time have collected a huge amount of positive feedback. It is worth considering them in more detail.

Sogaz: life and he alth insurance for mortgages

The main advantage of this organization is that customers can contact not only the branch of the company, but also receive money through the official website. As a rule, after leaving the application, the manager of the organization calls the user back and discusses the conditions.

Another important point in obtaining life and he alth insurance for a mortgage at Sogaz is that in this case, a medical examination, which is a prerequisite, is absolutely free.

If we talk about the cost of insurance, then it will be 0.17% when it comes to lifeborrower. There is also a very interesting service. It's called "borrower's liability insurance". In case of non-repayment of the loan, the overpayment for the certificate is set at 1.17% of the total price of the apartment. However, it is worth clarifying the final cost of documents with an employee of the organization, since everything depends on the particular bank, the loan amount and the repayment period.

RESO

In this case, we are talking about comprehensive insurance, which includes life, he alth and much more. In addition, the IC client will be protected in case of loss of working capacity or disability. Thanks to this, life and he alth insurance with a RESO mortgage has a great advantage and benefit for borrowers.

In case of disability, illness or death of the client, the company independently pays the balance of the debt to the bank. The heir of the borrower also does not have to worry about debts. And besides this, such package insurance includes the protection of the acquired property. In "RESO" you can issue a certificate according to personal conditions. This is very convenient, since each person may have different situations in life.

However, this IC is far from the only one where you can get such paper for the bank. Consider other options.

Renaissance

The main activity of this insurance company is precisely in the issuance of policies for the life and property of borrowers. In addition to the main insured events, the client also has the right to indicate his own versions of what may happen to him or his property.

In terms of costmortgage life and he alth insurance in Renaissance, in this case the amount is calculated solely on an individual basis based on the specific data of a particular client. However, the minimum cost of issuing a form will be 2.5 thousand rubles.

Ingosstrakh

This company is one of the top five insurers in the Russian Federation. Here you can get a fairly cheap life insurance policy for mortgage lending. If the loan amount is no more than 11 million rubles, then you will have to pay about 16.5 thousand rubles for ordering an insurance and customer service form. Thus, in Ingosstrakh, life and he alth insurance with a mortgage will cost approximately 0.22% of the total cost of the selected housing. These are more than favorable conditions for clients who want to reduce the interest rate on a general loan.

Rosgosstrakh

This insurance organization is also very popular among the population. It offers very low rates. If the home is insured in the UK under a comprehensive program, then in this case the cost of the certificate will be no more than 0.2% of the total cost. However, in this case, the bank in which the mortgage was issued will be necessarily considered. It also takes into account the size of the loan, interest rates, type of property and much more. All borrowers must undergo a detailed check.

However, in Rosgosstrakh, life and he alth insurance with a mortgage is quite cheap, so you should definitely consider this organization.