In the course of selecting a program and applying for a mortgage, many are faced with an allegedly mandatory condition for acquiring an insurance policy. Let's take a look at the conditions for life insurance with a mortgage at Sberbank together in 2019.
Content
Mortgage insurance at Sberbank in 2019
This year, with mortgage lending at Sberbank, the borrower's life insurance procedure is not included in the list of mandatory ones (details are in the article ), but is considered a voluntary decision of the client himself. However, bank employees strongly encourage potential borrowers to take out insurance, explaining that in this case, much more opportunities open up and interest rates will be much lower. Thus, the bank is insured against the following risks:
- the death of the borrower;
- loss of performance;
- disability;
- temporary disability.
In any of these cases, the borrower cannot repay the loan debt. And if there is an insurance policy, insurance payments will certainly cover the entire volume of obligations.
There are no restrictions on the choice of insurance company. The only condition is that when applying for a policy, Sberbank should be appointed as the beneficiary. Depending on the severity of the incident, you can expect to receive:
- subject to temporary disability - monthly payment;
- upon receipt of a disabled group - from 50% of the loan;
- in case of death - the entire amount of the debt.
Insurance organizations scrupulously compile a list of risks, because the cost of the policy depends on it.
Who decides whether to take out insurance or not?
Assessing the terms of mortgage lending at Sberbank, we can conclude that the mandatory nature of life insurance is determined independently. And managers, in turn, recommend issuing a policy only in terms of reducing risks for the bank.
In some cases, it is the availability of insurance that affects the approval of a mortgage. Some loans may be risky for the bank, due to understated guarantees of the borrower's solvency or age.
If you have an insurance policy, Sberbank will also offer the lowest interest rate.
Calculation of the cost of life insurance with a mortgage in Sberbank
Mortgage life insurance at Sberbank in 2019 depends on the chosen company and its internal pricing policy, included in the list of risks and amount.
The personal characteristics of the borrower are also taken into account:
- his state of health;
- profession;
- age category.
In total, the cost can be: from 0.18-0.32% to 1-1.5%.
That is, in order to make a decision, it is necessary to calculate the amount of insurance payments and compare them with the discount provided by Sberbank. It will be easier to calculate the amount by ticking the box in the online calculator in the "Life and Health Insurance" section.
Registration procedure
Since the purchase of the policy is carried out directly when applying for a mortgage loan at Sberbank, you need to act in the following order:
- Change mortgage options on the calculator.
- Choose an insurer. Accordingly, find the optimal list of risks for yourself and indicate the amount.
- The application is submitted to Sberbank along with all other documents. At this stage, it is necessary to notify the bank employee about the signing of the insurance contract.
- Issue a policy with a parallel payment of the contribution.
- Sign a mortgage loan agreement.
- Make the agreed payment each month.
If there is a policy received earlier, you must tell the bank employee about this. He will analyze the insurance criteria and point out changes that need to be adjusted. The main condition is to compare the term of the policy with the period of payments on the loan.
If the deadline does not meet, the agreement must indicate that it can be extended. In any situation, every year you should provide Sberbank with a copy of the extended insurance policy.
Documents for registration of insurance
After life insurance is issued for a mortgage at Sberbank in 2019, you need to find out the rules for contacting the company in case of risks.
First of all, the accident must be documented:
- certificate of assignment of the degree of disability;
- a medical statement confirming temporary disability;
- extract from the medical history or from the hospital card;
- death certificate;
- an accident report issued by the competent authorities;
- other documents issued by the relevant authorities confirming what happened.
After analyzing all the documents and subsequent approval, the insurance agent will transfer the required amount to Sberbank in order to pay the debt.
Good afternoon Mortgage life insurance is expiring. The contract was concluded with Sberbank Insurance under the Protected Borrower program. Is it possible to conclude an insurance contract with fear accredited by Sberbank. companies without increasing mortgage interest rates?