The insurance for the borrower

After all regularly bring payments under the credit we can, when are healthy and able-bodied, but if suddenly something happens, on whom you shift the obligations to bank? About bad it would not be desirable to think, and it is clear, but it is better to secure in advance nevertheless itself against similar risks, having issued the insurance. There is it cheaply, but allows you to be assured of tomorrow.

Volumes of crediting of physical persons grow every year. To secure itself against a non-return, the bank can insure the financial risks. However experts consider that credit institutions should bear responsibility for quality of an estimation of the borrower independently as they and receive the income for these risks. Instead to banks recommend to insure life and health of borrowers to own advantage. Thus the insurance sum is equal to debts under the credit. The majority of banks recognize efficiency of this kind of insurance, and some of them even give out policies of assurance in the branches. Some banks, on the contrary, continue to work under the habitual scheme, demanding instead of the insurance policy the guarantee of the second person.

Insurance of the borrower at mortgage lending
Risks of bank increase with growth of the sum of the credit and term of its repayment. First of all it concerns mortgage loans which give out on tens years. The overwhelming majority of banks except insurance of got real estate upon damage and destruction, and also the property right (title) to it, demands from the borrower to insure the life and health. In July of this year Rospotrebnadzor recognized that this condition breaks the rights of consumers. In department have declared that life insurance and work capacity of the borrower should be voluntary, and it is necessary for banks to develop credit products with the insurance and without it. It became actually clear that the overwhelming majority of banks anyhow broke «the Law on protection of the rights of consumers» because all of them, except the Savings Bank, demanded from the borrowers to insure life and health. In long-term prospect from three kinds of risks which are insured at mortgage lending, the most probable on approach is the risk of loss of health or life of the borrower. Because of cancellation of obligatory insurance, the risk of bank considerably increases, and it should compensate possible financial losses at the expense of increase in rates on a mortgage.

Obligatory insurance of borrowers by the first was cancelled by Russian savings and loan association, and now the rate to its credits without the insurance on 3 % above, than under credits with standard conditions. One of the Ekaterinburg banks offers two programs of crediting of share building. Without the insurance for building of apartment the rate makes 28 %, on ready habitation – 25 %. Thus with the rate insurance decrease to 19 % and 13-16 % accordingly. Thus, even with cancellation of obligatory insurance of the borrower at mortgage lending banks find a way to compensate the possible losses, raising the rate under the credit. Formally it doesn't break the right of consumers, therefore is absolutely lawful.

If to insure life and health nevertheless it is necessary, size of the insurance tariff depending on age, a state of health and professional work of the borrower will vary within 0,3-1,5 % from the credit sum. So, for example, at a mortgage loan in 3 million roubles, for the insurance it is necessary to pay from 9 to 45 thousand a year.

Insurance of the borrower at consumer crediting
Insurance of the borrower to favourably bank at any sum of the credit. The loan less, the insurance as frequently a legal cost at a non-return appears most sums of the credit or its outstanding part is more effective. The borrower insure against death and physical inability as a result of accident or disease. The insurance sum can be equal to the sum of the given out credit or the sum of the credit and percent for its use for the full or incomplete period of insurance. The insurance period is equal to crediting term. Insurance is carried out in advantage выгодоприобретателя which the bank always is.

As a rule, insurance isn't an indispensable condition of reception of the credit (except a mortgage) and it is possible to refuse it at any moment. To issue the insurance it is possible it is often possible to issue directly in bank at credit reception. Make it all able-bodied borrowers (as a rule, term of return of the credit should come before achievement by the borrower of pension age) who aren't invalids I or II groups can, have no mental diseases and aren't infected by a HIV. Payments under the insurance program can be brought together with payments under the credit. At insured event approach, during the near future it is necessary to inform on it to the insurance company and bank.

For example, in one of the Ekaterinburg banks where the insurance can be issued at credit reception, the monthly tariff on life insurance and health of the borrower makes 0,65 % from the sum of the credit or 0,79 % from current debts on a credit card. The annual insurance on the credit in the size in 100 thousand roubles will manage in 7800 roubles. If the borrower has chronic or life-threatening diseases, hobbies, etc., the insurance tariff can be calculated individually.

Some banks demand from borrowers to insure life and health at reception of the credit for the car. That credit cards the bank can demand from the borrower to insure life and health if the credit limit exceeds the certain sum, for example, 100 thousand roubles.

Experts consider that with growth of the market of crediting banks will cooperate more actively with the insurance companies, and unpopular life insurance and health will be extended in Russia thanks to crediting.

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