The insurance under the credit: what for it is necessary and as on it to save

The insurance under the credit: what for it is necessary and as on it to save
Consumer crediting



As a rule, the decision to take the credit in bank comes when the household budget goes to pieces, and money is necessary more than ever. Therefore, choosing the credit organization and the kind of a loan everyone of us tries to find the most acceptable on terms and the sum of monthly payments a debt settlement variant. And frequently, in particular if the credit is arranged not for the small sum, we face a problem of registration of the insurance under the credit which is offered persistently by employees of bank. And here there is a dilemma – whether it is necessary to take such insurance. That it is really excellent possibility to insure and native from nonpayment of the credit in case of origin of unforeseen circumstances of life from which, unfortunately, anybody from us is not insured. Or it is one more dodge of the bank trying at our expense to protect from risks of non-payments first of all of, instead of us?



What basically represents credit insurance? It first of all the service given to the borrower by the insurance company. After the client signs the agreement of insurance and acquires the special policy, the insurance organization incurs obligations to help the borrower to pay a bank loan after insured event approach. Some kinds of insured events are provided. They can be connected, first, with health of the borrower, secondly, with risk for life of the credited person, thirdly, with loss of the right to the property, fourthly, with natural disasters and natural cataclysms (fires, flooding, earthquakes), and, at last, with work loss.

It would seem, what can be better, if have an opportunity подстраховать itself from any unforeseen reality situations? But, probably, not all so is simple, as looks at first sight. After all at least the borrower should for loan pay more money, than assumed initially, selecting itself the most acceptable variant of crediting. As, as a rule, the bank considers all risks and registers them in the body of the loan agreement. So first of all it is necessary to study very scrupulously all points of the agreement and to consult on all details with the manager of the credit organization.


Obviously, suggesting to insure the credit, the bank reassures first of all itself in case the borrower is unable pay the credit. Really, bank loan insurance happens two kinds: insurance repay and liability insurance of the borrower for repay. If in the first case as the insured the bank the agreement consists in the second case between the insurance company and borrower acts. In both cases the object which is subject to insurance, responsibility of the borrower (physical or the legal entity) before bank for timely and complete repayment of credits and percent for using them during the term established in the agreement of insurance is. The practical sense of insurance of risk of a non-return of the credit consists that at non-execution by the borrower of the obligations to bank under corresponding contracts the insurance company pays to bank the incurred damages. The percent of insurance compensation fluctuates within 50-90 % from size of unexecuted obligations, including due percent on the credit.

Credits happen different: consumer, mortgage, autocredits and other. Accordingly, and the insurance for each of them is provided the. What for at consumer crediting the insurance is necessary, you if there is no mortgage property ask. The matter is that will insure not property, and life and ability to meet payments of the borrower.

Thus life insurance and health - pleasure not from cheap, especially if percent on the insurance run almost to 30 % from the sum of the credit. Therefore you have a just cause to refuse credit insurance even at signing of the agreement on a loan. And here from insurance of property pledge not to leave - the pledger is obliged to insure at own expense property in all-in cost against risks of loss and damage. Therefore there is a chance to refuse only from life insurance and health, disability, but in any way from insurance of property pledge.

Meanwhile it is necessary to know that there are cases when borrowers can refuse insurance under earlier received credits almost lost-free. Those who doesn't agree rate increase under already running contract, bank force to insurance hardly can. If the point on increase of the rate of the credit isn't registered in the agreement in absence at the borrower of the policy of assurance of life and health, the bank hasn't the right to change the rate.

The main thing, never it is necessary to forget that, using a bank loan, you acquire not only obligations on its repayment, but also the rights which you still nobody deprived. Attentively study all points of the agreement with bank – and then nobody will have possibilities to force you to pay for those services which you don't need.