Sberbank life insurance mortgage money back under loan insurance

When applying for a home loan, clients are faced with strong recommendations from a Sberbank employee to purchase an insurance policy. A mortgage loan is a credit product that requires insurance. But its object can be both the collateral and the borrower himself. The belief that personal insurance will reduce the rate is becoming fundamental for many borrowers. Some clients have a realistic idea of how much their monthly payments will increase, but do not try to conflict with the lender, wanting to get favorable loan conditions. And then they ask how to get their Sberbank mortgage insurance back. Such a desire is completely legal, but requires taking into account some nuances.

If the borrower does not have a chance to avoid insuring the apartment, then there is an opportunity to save on the amount of premiums

What types of insurance can you refuse with a mortgage?

According to the legislative norms of the Russian Federation, the loaned real estate, after concluding an agreement with the client, becomes collateral for the banking institution. This condition is mandatory and cannot be changed. Insurance of the loaned property is a guarantee that the lender will avoid monetary losses in the event of damage or loss of the collateral. If a specified insured event occurs (fire, flooding, gas explosion, other risks), the insurer undertakes to compensate the borrowed funds. Sberbank strictly monitors the schedule of insurance payments, not allowing even a month's delay. And it requires a timely renewal of the contract with the insurance company if the policy is concluded for only a year. Failure to comply with the bank's requirements will result in increased interest or penalties.

Why are banks interested in obtaining insurance?

Of course, in most cases, people taking out a mortgage are unhappy about the additional costs. But practice has proven the need for mortgage insurance. This agreement, in the event of force majeure events related to the property or the state of health of the borrower himself, relieves the client of problems with the bank. After all, different situations happen in life, and sometimes the borrower simply becomes unable to pay the mortgage.

Insurance can be returned through the court even after 14 days.

Insurance is also beneficial for the bank itself. After all, this service has quite a large number of advantages. In particular:

Provides financial security in the event of a situation when the client cannot fully repay the loan according to the schedule (due to health problems, loss of the main source of income).
If the borrower dies, his relatives will not have to take on the obligations of the mortgage (if they take out life and health insurance).
A mortgaged property is also insured against various disasters (fires, floods, destruction, etc.).

The borrower is required to be able to discern when taking out an insurance policy is truly an important necessity. And when can you refuse such a service? At the legislative level, due to the peculiarities of mortgage lending, it becomes necessary and obligatory to insure the property itself taken on loan, since Sberbank needs confirmation and collateral for the loan issued.

But a policy issued to insure the borrower himself (his health and life) becomes a desirable, but optional service. You can also refuse to insure your home title . But it is worth remembering that full registration of all proposed insurances gives the borrower an increased chance of getting a mortgage approved by the bank. Otherwise, the banking structure has the right to refuse a loan or increase annual rates.

It is worth remembering that the need for an insurance policy disappears when the borrower fully repays the entire debt on the loan taken out.

The bank does not have the right to refuse a client who is taking out a mortgage and wants to purchase insurance. In this situation, the future borrower has every right to appeal to the courts. Also, the borrower can refuse the insurance previously approved by him as soon as Sberbank has issued consent to receive the loan and apply for a return of insurance on the mortgage loan at Sberbank.

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Insurance reimbursement methods

You can cancel your policy:

At the time of signing the loan agreement. Personal insurance occurs on a voluntary basis, so the borrower has the right to refuse it. But you need to be prepared for the interest rate to increase.
When repaying a loan early, when obligations to the lender have been fulfilled and the policy is still valid.
Using the “cooling off period” in insurance (this term was introduced on January 1, 2020). Within a certain period, the policy buyer can refuse the insurance service, having received the paid premiums in whole or in part.

Conditions and procedure for returning insurance after repayment of the loan

Payment of the insurance premium is possible after repayment of loan obligations. For registration, you will need to collect a full package of documentation:

passport
loan agreement
insurance policy
document confirming the fact of debt repayment (certificate)
insurance payment receipt

If the loan was taken from a bank and insurance was taken out separately, you should submit documents directly to the insurer’s office. The application is submitted in two copies. One is returned to the applicant with a date stamp for further consideration.

How to return Sberbank mortgage insurance during the “cooling off period”

The “cooling off period” has time restrictions - it is valid for at least 14 days from the date of signing the agreement with the insurance company. This rule applies to policies purchased by individuals. This option is not provided for collective agreements.

Personal insurance occurs on a voluntary basis, so the borrower has the right to refuse it

There are certain risks to refusing additional insurance. Banks usually anticipate this situation and introduce additional restrictions into the loan agreement. At Sberbank, such a refusal often entails an increase in the interest rate by 1 percentage point. To make the right decision, you should carefully study your home loan agreement. The document may record an increase in the rate or termination of the contract in court. Let's consider insurance return situations:

If the insurance agreement is concluded more than 14 days, then you will not be able to receive money. The only exception is that the terms and conditions of the insurance contract stipulate long terms, which are fixed in the agreement.
It will not be possible to return contributions if an insured event occurs during this time.
Not all contracts are subject to the cooling-off period rule. Then the contract is terminated on a general basis. But according to the Civil Code of the Russian Federation, if you refuse the services of the insurance company, the amount is not returned if this was not initially specified in the contract. Therefore, you need to read the document carefully before signing.

Now let’s consider the best option, when the insurance falls under the rules of the “cooling off period” and time is not lost. Then you need to consider the following:

Submit a written application to the insurance company, describing the reason for the return. A phone call won't be enough. The application is submitted to the company's office or sent to the legal address of the insurer with the necessary documents.
If the insurance period has not yet arrived, you will be able to return 100% of the amount. Otherwise, part of the elapsed insurance days will be deducted from the requested amount.

What to do if the insurer does not want to return the money for insurance on a Sberbank mortgage loan? The next step is to file a lawsuit to resolve the dispute. You must first obtain written confirmation of the refusal from the insurance company.

You can do it differently. First, write a claim, guided by provision No. 958 of the Civil Code of the Russian Federation and write a second application to the Investigative Committee. If you refuse again, prepare a lawsuit.

How to apply for an insurance refund

According to current legal standards, you can return the strass portion of a mortgage loan in several ways. Their choice depends on the time frame within which, after concluding the contract, the client wished to issue a return.

Mortgage insurance is rather poorly developed in Russia

Required documents

The issue of returning insurance money can be resolved only on the basis of an application completed by the borrower and a package of prepared documents. The standard portfolio list includes the following securities:

Passport of the person who took out the mortgage.
Agreement with the bank on issuing a mortgage loan (copy).
Confirmation from Sberbank about the repayment of the mortgage debt (also in case of early repayment) or about the existing part of the debt.

Experts advise the borrower to personally hand over all documents to bank employees. And make sure that marks are made indicating the transfer of documents. By law, the lender is required to consider applications within 10 banking days from the date of application.

Borrower action algorithm

The submitted application for return of mortgage insurance is processed only after the current encumbrance on the purchased housing is removed . What should a borrower do, especially considering that insurers are extremely reluctant to meet such a client’s desire?

Compile and submit an application to the insurance company. The application must be submitted in two copies. Before you pay a visit to the insurance service, you should be armed with a confirmation form confirming the removal of the encumbrance.
If you receive an official refusal, you should definitely request that the refusal be in writing. And if you managed to return part of the insurance funds, you should demand a detailed description of the entire report on the insurer’s expenses for the period of validity of the contractual obligations.
The next step in case of refusal to return the insurance part of the mortgage loan will be to file a claim with the management of the insurance company (it should refer to the Civil Code of the Russian Federation No. 958). The claim must be registered when it is submitted to the company.
The last step is for the borrower to go to court with all the documents in hand.

According to statistics, courts in 80–85% of cases satisfy the borrower’s claim for the return of mortgage insurance funds.

And in order to speed up the process of litigation and quickly recover the insurance amount, it is worth separately drawing up and sending a complaint to the Central Bank of Russia (this structure is responsible for issuing accreditation to insurance companies), Rospotrebnadzor and the prosecutor's office. In this case, the issue of return will be resolved much faster.

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Mortgage insurance has a long and rich history

Features of return insurance

The amount of funds returned for mortgage insurance will also vary. In many ways, the amount depends on the timing when the client requests termination of the insurance contract . In particular:

Within 2 weeks. The borrower will be refunded the entire cost of insurance services.
If the time since the registration of the insurance contract has exceeded 14 days, the client will receive the policy amount only on the condition that the insurance was paid before the conclusion of the contract (in this case, the chances of a refund are minimal).
You can return the insurance after repaying the mortgage with Sberbank (including in case of early repayment); in this case, the amount of the refunded funds is calculated taking into account the unused insurance period.

Compensation for early repayment

Most borrowers want to pay off their mortgage early. Having fully fulfilled its obligations to Sberbank, the borrower can receive part of the amount for insurance of the collateral. And this must be done, since under insurance it is the bank that is the beneficiary, and not the borrower: after the occurrence of an insured event, it is not the client who paid the premiums who will receive compensation, but the bank.

The application and provided documentation are reviewed by insurance company employees no more than 30 days

If you close the debt early, you can count on early termination of the contract with the insurer. To do this, the policyholder submits an application to the insurance company and attaches a certificate confirming the absence of claims from Sberbank. The client will receive funds for the period remaining until the end of the contract, taking into account the deduction of the commission for conducting the business.

Another option is to change the beneficiary in the insurance contract and re-register the agreement in your name. Then the insurance will continue to apply, but in your favor.

In what case can the insurance be returned?

The procedure and rules for the borrower's actions will be entirely based on when he decided to return the credit insurance.

You also need to know in what cases the policy is returned:

At the very beginning of using insurance, as a “not suitable product”.
If the insurance contract has not yet been concluded, but the money has already been paid.
In case of early repayment of the loan, when the need for insurance is no longer required.

It is difficult to terminate a contract if it has already been signed, but otherwise it is extremely rare. Let's consider the algorithm of actions and deadlines for submitting an application.

During the first 5 days

When receiving a loan, Sberbank forces all clients to insure their lives. If a person is not insured, the bank may refuse a loan. For a consumer loan, insurance is not mandatory, but the bank does not indicate the reason for the refusal, and the person cannot do anything.

The advantage of taking out an individual insurance policy is that the borrower does not overpay for the services of Sberbank as an intermediary in issuing insurance. For registration of collective insurance at Sberbank they charge an additional fee and a very large one, and the bank will put this premium in its pocket, and the borrower will have to pay extra for the insurance itself.

After submitting the application, the borrower must return the money within 10 days.

Within 14 days

Previously it was indicated that compensation in the amount of 13% of the cost of insurance would be withdrawn, but now it seems that it is allowed to return the full cost. But very often bank employees contradict the agreement and try to mislead a person, and say that the agreement indicates a “connection fee”, and not the cost of insurance, and here I interpret these words differently. Still, you need to try to defend your rights, even if the bank pays at least this amount.

After 14 days

Everything here is very clearly stated in the loan agreement in clause 4.1.2. and the borrower can return the fee for connecting to the insurance service only if the contract has not yet been signed. Otherwise, you cannot expect a full refund.

In case of early repayment

Early repayment of the loan makes the insurance service useless. And who wants to pay for a product they don't use? Therefore, people want to recover their losses. The return of payment of the cost of the insurance contract will not be made exactly in one hundred percent volume. This is indicated by clause 4.2 of the Sberbank loan agreement.

When the insurance is returned due to early repayment of the loan, the receipt of money will be determined individually for the borrower, but the bank will clearly withhold interest for taxation and other fees. But they are required to terminate the contract and pay at least a minimum amount, depending on how long the borrower has used the insurance and how much time remains before its expiration.

Sample application

List of documents

If the loan is repaid, to reimburse the funds spent, you must contact the insurance company where the agreement was concluded, and not Sberbank. Additionally, the borrower provides:

application in the form of an insurance company,
own passport,
loan agreement,
insurance policy,
agreement with SK,
receipts for payment of insurance premiums,
loan repayment certificate,
documents for the purchased apartment,
statement about the payment schedule,
account details for crediting funds.

The application and provided documentation are reviewed by insurance company employees for no more than 30 days.

Algorithm

It is possible to return insurance premiums only after repaying the mortgage in full. And this can be done as follows:

Having paid the loan in full, the debtor receives a certificate from the financial institution stating that the entire amount issued was repaid before the due date (such a certificate is not immediately provided, but is issued only at the request of the borrower);
establishing the location of the policyholder's company, where the received statement of repayment of the mortgage amount is provided;
The citizen leaves a handwritten application to the insurance company representative with a request to return the funds, and also leaves a full package of additional documents (civil passport, creditor’s statement, financial account number where the money should be transferred);
within one month after filing the request (unless otherwise specified in the contract itself, the insurer decides to return the funds).

Submitting an application for refund of loan insurance

To be guaranteed to receive a refund upon termination, you must correctly fill out the application and attach documents to it. The client can submit documents in person, through a legal representative or by registered mail.

A registered letter should be sent to the address: 115093, Moscow, st. Pavlovskaya, house 7.

Experienced experts do not recommend sending documents by mail. Firstly, the calculation will be made not from the date of departure, but from the date of receipt of the letter. Secondly, if an error is made in the application, the company may not notify about it. The result is wasted time, which is especially important when applying during the cooling period.

What documents need to be prepared

To receive a refund, you will need to present original documents. The company specialist will make copies himself.

Requested:

passport;
insurance policy and payment receipt;
bank account details opened in the name of the policyholder;
grounds for termination of compulsory insurance: certificate of absence of debt or account statement.

If documents are sent by mail, then it is enough to make copies. They do not need to be notarized.

Rules for filling out an application

In addition to the documents, the borrower will need to fill out a return application. It is important to consider that there is no approved form at the legislative level. This means that the client can write it in advance, in free form. The main thing is to indicate in the application:

contract details: number, validity period;
Contact details;
Full name and passport details of the applicant;
reason for application: refusal of insurance or indicate otherwise;
account details;
list of attached documents;
address of the office where the application is being submitted.

The completed form should:

give it to a Sberbank specialist;
receive a second copy on which the visa will appear (a mark that the document has been accepted for processing).