How to calculate mortgage insurance: we understand the order of calculations

Practice shows that life insurance for mortgages has become as popular a type of service as other types of property insurance. It allows you to eliminate the adverse consequences of an insured event. If this happens, the insurer will pay the remaining amount of the debt, but within the framework of the purchased product. If these funds are not enough to cover the debt, the remainder will have to be paid to the heirs.

What does this type of policy provide?

By taking out life and health insurance for your mortgage, you protect the interests of your heirs and your own position in the event of disability or death. When something like this happens, a certain amount is paid under the following conditions:

1. A bank client dies - repayment occurs in full.
2. Becomes temporarily disabled - the amount is determined personally.
3. Receives a disability group - it will have to be confirmed by the VTEK commission.

Life insurance when taking out a mortgage will protect you from financial difficulties in the future, allowing you to keep your home. Relatives and other heirs will not have to pay off a large debt. However, there are advantages to issuing a policy without the occurrence of the risks specified in it - the bank will be more willing to issue money and lower the rate.

Cost of mortgage insurance

Determined based on the cost of housing. The cost is set by the insurer. Typically it ranges from 0.01 to 1% of the cost of housing, depending on the insurance conditions and the condition of the housing itself.

To calculate the cost of a life insurance contract, there are special calculators in the insurer's application. For example, when applying for an insurance policy from Sberbank, it is enough to know the remaining amount of debt for the program to calculate the price of the policy.

Insurance is paid once a year; you can apply for it during the last month of the current policy. If the mortgage is just being issued, then the client has 30 days to find a company and conclude an agreement. They pay for a year of insurance at once, but some companies offer to pay a fixed amount every month.

The cost is affected by several parameters:

• bank requirements for the volume of coverage - some banks allow you to cover not the entire object, but 60-80% of it;
• mortgage size - the higher the cost of the house, the more expensive the policy;
• the age of the borrower, his gender and state of health - for a young man the percentage will be lower than for a woman over 60 years old with chronic diseases;
• type of object and its ceilings - wooden houses are more expensive to insure, like old ones; there are often discounts for new buildings;
• whether the house has been put into operation - if not yet, then life and health insurance is sufficient.

What risks are included in the contract?

When purchasing a life insurance policy for a mortgage, you need to clarify in what situations you can count on payments. The main types of such cases have already been given earlier:

• death - the heirs will not have to repay the debt;
• disability – only specific groups are considered;
• temporary disability – the insurer makes payments.

If the borrower becomes disabled, the balance of the debt is repaid in full or only one part of it is paid. It all depends on the terms of the agreement. If you received a mortgage with life insurance and temporarily lost the ability to work (serious illness), the insurer will pay the loan until the client’s ability to work is restored.

There is a list of situations when you cannot expect compensation. They are usually listed as a separate clause in the agreement:

• suicide or intentional harm;
• driving a vehicle without a driver's license;
• crime leading to an accident;
• risks that occur while intoxicated.

Therefore, you should carefully study the mortgage life insurance agreement before signing it.

If any of the above happens, you must go to a hospital or other medical institution for qualified assistance. Then you should contact the insurer, providing details of the incident and the consequences that occurred. After this, you need to prepare documents proving what happened (certificates from a doctor, confirmation of death, etc.).

Now you know what mortgage life insurance provides. But to reap all the benefits, you need to study what risks are listed in the policy. If this is not done, then if you are injured while doing extreme sports, for example, you may be left without payments if such an item was not included in the list of risks. You will also need to collect all the necessary papers not only after the occurrence of the event, but also before issuing the policy.

Who is the beneficiary

This person receives funds if the risks indicated in the policy occur. Therefore, it is so important that the contract contains a clear indication of this subject. As a general rule, the person receiving payments is the bank. But it is possible to determine exactly who the beneficiary of life insurance for a mortgage is after drawing up the contract.

Even if the agreement specifies the creditor as this entity, there are certain nuances that you need to be aware of:

1. The bank has the right to receive payments not exceeding the amount of the debt.
2. The debt also includes penalties for late payments.
3. After repaying the debt, there are funds left - they are sent to the heir.

The rights of the beneficiary can be transferred to another person if the bank transfers rights to the mortgage to a new lender.

Recommended article: Who pays the mortgage after the death of the borrower

Is it necessary to apply for a policy?

To answer this question, you need to turn to federal legislation. In particular, to. It clearly states whether mortgage life insurance is required or not. Paragraph two of this article states: the mortgagor is obliged to insure the property at his own expense.

. However, there is no information about whether the risk of loss of work due to illness or personal death is required to be included in the policy, which means that this type of insurance is not mandatory. In addition, there is a direct indication that such policies are optional.

But one should be guided not only by the rules of the law. Also consider the specifics of your situation when deciding whether you need life insurance for your mortgage. The fact is that some lenders reduce the rate for each type of risk taken into account (construction, title, etc.). Typically, the reduction for taking out a personal policy is half a percent. For including in the contract the risks of loss of property or damage to finishing, the rate will be reduced by another 0.5%. Although the exact reduction ratios depend on the specific bank.

The insurance company refuses compensation. What to do?

All insurance premiums were paid on time, the company was notified within the specified period and there is confirmation of this, but there are still no payments from it? Unfortunately, this happens sometimes. Not all companies are ready to strictly comply with the contract and rush to refund the client’s money. Many of them are looking for all sorts of ways to avoid paying mortgage insurance to a client. These are very large sums, which the insurance company is not very willing to part with. The difficult economic situation in the country forces such firms to look for loopholes to avoid huge payments. 2021 will be no exception.

If the company cannot specifically justify its refusal, or you believe that you are being unreasonably denied payment, then you should go to court so that the insured event is recognized and the amount of insurance compensation is recovered in the amount specified in the contract.

Not only do you have an interest in ensuring that the insurance company fulfills its obligations, but so does the mortgage owner. He must be notified that compensation has been denied and a copy of the claim must be delivered to him. You should petition the court to have the mortgage holder involved in the process and be willing to act on your side.

You should not delay your mortgage payments until the dispute over who should pay for it, you or the insurance company, is resolved. A legal dispute does not relieve you from fulfilling your obligations under the loan. Until the issue of reimbursement by the insurance company is resolved, the borrower must continue to pay premiums on time. If the court decides in favor of the borrower, then he has every right to file a new claim against the insurance company so that it reimburses him the funds spent on paying the loan due to the delay in insurance payment.

Is a policy required for a co-borrower?

This person takes responsibility for the loan taken by the borrower. Therefore, it is necessary to confirm his solvency and collect a package of documents. But life insurance for a co-borrower with a mortgage is not mandatory, taking into account the provisions of the law stated above. And if the policy reduces interest for the main borrower, the same document issued to the joint borrower does not have the same effect. Although its execution may increase the chances of bank approval if you doubt it.

In addition to life insurance when obtaining a mortgage, there are mandatory requirements for the co-borrower:

• good credit history;
• compliance with the minimum age;
• having a sufficient level of income.

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But when refusing to issue a policy, consider the possible consequences. And they will come, even if such a decision was made by a joint borrower.

What to expect when canceling an agreement with an insurer

In Art. 935 of the Civil Code of the Russian Federation states that this type of policy can be issued at will. This means you can refuse life insurance on your mortgage. However, the other party has the right to tighten the terms of the mortgage agreement in response to this. The loan rate depends entirely on the expected risks; in order to reduce them, comprehensive services are offered. It includes taking into account several types of risks: constructive, title and identity of the borrower.

The construct will have to be included in the policy, because This is stated in Law No. 102-FZ. But refusal of life insurance on a mortgage will lead to the following consequences:

• rate increase by 0.5-3.5%;
• negative decision on a loan application;
• changing the terms of the agreement.

Many borrowers decide not to renew the policy after the first year. But in this case, the same consequences are possible if this condition is specified in the agreement with the creditor.

What is mortgage life insurance?

A mortgage is a loan secured by real estate. By law, it is necessary to insure the purchased property against complete destruction. Banks add to this the requirement to also insure the life and health of the borrower. They want to protect themselves and get their spent money back in any way.

You will have to take out such insurance annually until the debt to the bank is fully repaid. Insurance happens:

• compulsory. Property insurance for the entire amount of debt is required. The mortgage agreement will necessarily state that the borrower undertakes to insure his home for the amount of the debt until the mortgage is fully repaid. If you refuse such insurance, the client has to pay a rate 5-25% more than specified in the initial contract.
• Voluntary. Voluntary includes life and health insurance. That is, if desired, the client may not insure his life. But in this case, the bank can also prescribe an increase in interest if the client refuses to insure life.

Situations in life are different.
There is always the possibility of unexpected loss of ability to work or life of the borrower. If it was insured, the insurance company will cover the debt to the bank, and the heirs will be able to become full owners of the property. The best mortgage offers in Russian banks

Mortgage insurance may include 3 main groups:

• Property insurance. The same house/apartment for which the mortgage was issued. The insurance company covers expenses in case of flooding, fire, hidden structural damage, explosion and the like.
• Title Insurance. Helps protect the interests of the borrower and lender in case they try to invalidate the transaction. Usually required for the first 1-3 years from the date of execution of the purchase and sale agreement.
• Life and health insurance of the borrower. Insurance in the event of death, illness, or disability of the person in whose name the loan is issued. In insurance cases, a special company pays the insurance instead of the client.

Any house or apartment suitable for living is covered by insurance. Any apartment can be insured, except:

• dilapidated or in disrepair (officially recognized);
• located in houses with wooden floors;
• one that cannot be re-registered as the property of the borrower.

Depending on the year of construction and materials, the insurance percentage varies. For example, it will be very expensive to insure an old wooden cottage, but there will be a minimum of insured events.

You can officially insure someone else's house (for example, an apartment you rent). But in the event of an insured event, the owner of the property will receive payments, and not the one who prepared the documents.

How to calculate the cost

Calculations are made using a complex formula that takes into account maximum nuances. You can calculate your mortgage life insurance before you sign up by simply going to the company's website and using the calculator. But do not forget that the insurer carries out such calculations annually. The fact is that prices are affected by the amount of the unpaid balance. A certain percentage is taken from it. This means that the lower the debt, the lower the insurance price.

To find out the exact amount, you will have to provide the following information:

• where is a loan for living space issued;
• Which bank do you get a loan from (loan size);
• age and gender of the borrower, as well as the co-borrower, if any;
• financial protection clauses included in the policy;
• types of risks and the presence of diseases;
• start and end dates of the agreement with the bank.

When calculating life insurance for a mortgage, you also need to indicate your profession. Potentially dangerous professional activities will affect the cost in favor of an increase. Borrowers over 35 years of age are also insured at increased rates.

Once the tariff is determined, the cost formula is simplified: the remaining debt must be multiplied by the percentage offered by the insurer. This percentage includes increasing and decreasing factors. Before choosing a specific company, it is advisable to calculate online life insurance for a mortgage in several organizations, and then compare prices. This way you will decide on the optimal candidate. Although the list of such is limited by the bank.

Registration procedure

It doesn’t matter whether the mortgage is taken from Sberbank, VTB 24 or any other bank, the procedure for obtaining life insurance is standard. It is worth considering that each bank cooperates with certain companies, among which the client can choose the one with which to enter into an agreement.

To apply for an insurance policy you will need:

1. Passport.
2. Statement.
3. Applicant's questionnaire.
4. Mortgage agreement.
5. Medical report, if required by the insurance company.

Some companies enter into an insurance contract without the requirement to present a document about the client's health status . If you are completely healthy, do not have any diseases, and your outpatient card is not replete with numerous records and illnesses, then it is worth providing a medical report even if it is not required. This will allow you to require the insurance company to reduce the interest on the policy.

You can either bring all the documents yourself to the insurance company’s office or present them to the bank when concluding a mortgage agreement. When signing a contract for insurance services, you should carefully pay attention to the points in which:

• Insurance cases are discussed.
• The validity period of the policy is stated. Ideally, it should be concluded for the same period as the mortgage agreement.
• The percentage of reimbursement of the loan amount is indicated.
• There is information on how and in what amount insurance premiums must be paid.

What tariffs are provided by different companies?

How the policy price is formed is already shown above. However, the prices differ for each organization. Also, the cost indicators are affected by the registration method: in the office or online. In the second case, many insurers offer savings of up to 15%. However, the basic rates of mortgage life insurance are known from the beginning:

• in RESO the service will be sold for 0.182%;
• SOGAZ offers to buy it for 0.21%;
• VTB and Sberbank guarantee 0.25 and 0.34%, respectively;
• Alpha and VSK – 0.26 and 0.29%;
• In Ingosstrakh you will have to pay 0.25%.

Check with your chosen company for exact interest rates on mortgage life insurance. You can make calculations online. This method also allows you to save money.

Comparison table of mortgage insurance conditions

Before purchasing a policy, it is recommended to compare rates from different organizations.

How to reduce the cost of your policy

There is no specific company with which it would be beneficial for everyone, without exception, to enter into an agreement. Even if you are offered low base rates, increasing odds can minimize the benefits. Therefore, you need to choose an organization individually. Although there are ways to get cheap life insurance for your mortgage.

1. Do not buy a policy from a bank, otherwise you will also have to pay the commission that the lender receives from the insurer. Study the list of companies offered by the bank and choose the most suitable option from them.
2. Rates for the fairer sex are offered below. If the main borrower is female, you can save money.
3. To make life insurance for your mortgage cheaper, when you take out your next policy (in a year or after another period of time), switch to another company. Typically, the new insurer gives discounts of 10% to 15% for this.
4. Keep an eye on promotions offered to new or regular customers. In this case, you can save up to 40%. (News on Promo Codes on our forum)
5. Buy a policy online to reduce the price of life insurance for your mortgage by at least 10%. Some companies offer such a discount when sending an application through the website. How to obtain mortgage insurance online is described in detail in another article.

In addition, you can give up some bad habits and improve your health in advance (get rid of excess weight, etc.). This will avoid increasing coefficients.

Important to know: Where is mortgage insurance cheaper?

Apartment mortgage insurance - how to choose an insurance company

What methods of payment for the policy are there?

One of the pressing questions of borrowers - how to pay for life insurance on a mortgage - turns out to be simple in reality. There are two options for depositing funds:

• remotely;
• in the office.

In the second case, you need to take a receipt for payment and go with it to the organization’s cash desk. In the first situation, several methods are available:

• through the post office - the money will be transferred within a few days;
• by bank transfer - request bank details and make a transfer (received within 3 days);
• in a communication shop - payment information will be required, but a commission is possible;
• through your personal account - suitable if you have a card linked to your account;
• to the cash desk of another bank - the amount of life insurance for a mortgage will increase due to the commission.

The fastest way to receive money is when paying through a bank cash desk, a phone shop or your personal account. As a rule, they are translated immediately. Some companies offer to install an application on your smartphone to deposit funds. It may also have functions for renewing the contract with the insurer.

Online purchase procedure

It is mandatory to take out a life insurance policy, but if the borrower still decides to get such protection for himself, then he needs to follow the order of registration:

• make calculations using an online calculator;
• pay the insurance premium by bank card;
• print the electronic policy, which will be sent to you by mail after payment;
• sign it with your own hand;
• provide to the bank for a transaction or for an annual renewal of the contract.

Important point! When applying for a policy online, you do not need to additionally provide a large list of papers or visit the insurance office.

Which insurance company to choose

By default, insurance must be purchased from the insurer that is included in the list of approved (accredited) insurance companies established by the bank.

However, it is also possible to purchase insurance from a non-accredited insurance company. In this case, this insurance company needs to submit an application and documents confirming compliance with the requirements to the bank. The lender will review them and inform the borrower of his decision - whether he will accept protection from this insurer or not.

The main criterion is to determine the reliability and stability of the company. The undisputed leaders of the insurance market in Russia are such companies as:

• Ingosstrakh;
• VSK;
• RESO;
• Alpha insurance;
• SOGAZ.

In practice, most often a policy is issued at Ingosstrakh, because it is accredited by almost all banks, has been on the market for a very long time, has a high level of reliability and allows you to issue a policy via the Internet.

Important point! When calculating using the calculator, you just need to select the bank where you have a mortgage, and then it will select the right insurance option for you.

List of required documents

If you take out real estate insurance with a mortgage, you need to collect a package of title and technical documents for real estate.

If life insurance is not purchased as part of a comprehensive product (life, title, property), then real estate documents will not be required. All you need to submit is:

• general passport;
• application for concluding a contract ();
• a questionnaire with basic information about work activity, the presence of chronic diseases, etc.;
• a copy of the mortgage agreement and, if available, the mortgage note;
• a certificate from the bank about the balance of the loan debt;
• extract from the outpatient card;
• other documentation provided upon request of the insurer.

Important! When purchasing a life insurance policy online, you only need a passport and a mortgage agreement.

Instructions

You can obtain the application form:

• at the bank/insurer office;
• on the official website of the bank/insurer;
• on our website (see above).

Attention! Typically, a life insurance policy can be obtained on the same day of application, unless additional verification of documentation or health status is required.

It is also possible to issue a policy online (for example, under the “Protected Borrower” program from Sberbank Insurance). But this opportunity is not implemented by all insurance companies.

Payment of the insurance premium in 2021 can be made:

• by depositing cash into the insurer's cash desk;
• non-cash transfer of funds to the settlement account of the insurance company;
• from a bank card (for online registration).

How to renew your policy

This stage worries almost everyone, because additional troubles are associated with it. But sometimes the extension of life insurance for a mortgage is carried out by depositing money towards the next installment. However, you need to focus on the terms of the contract. If it says that it is necessary to renew the agreement by renewing the agreement, then that is the only way to do it.

When the contract is concluded for a year, after this time a new document will have to be signed. At the same time, you need to pay less, due to the fact that the price is set based on the amount of the balance on payments. If you forget to re-take out life insurance for your mortgage, the bank may charge penalties. As a last resort, they ask to repay the debt early. Therefore, it is important to apply for an extension on time.

Most insurers remind you that the deadline for renewing the agreement has arrived. To renew, just go to your personal account and leave the appropriate request, or visit the company’s office. Here you will find out what percentage of life insurance on a mortgage will now be offered. You need to have with you:

• completed application;
• identification;
• agreement with the bank;
• loan repayment schedule.

They may also request your old policy and other papers. Check the list with your company. Each insurer offers its own conditions for renewal and conclusion of an agreement.

Features of purchasing a policy from different insurers

To determine where the cost of life insurance for a mortgage is cheaper, you need to compare offers from different companies. Take into account not only the percentage amount, but also the general conditions for the provision of the service. Consider the availability of accreditation, discounts and special conditions for regular customers. The list below presents the largest and most trusted insurers.

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VTB

VTB does not currently provide life insurance for mortgages directly. The fact is that the company merged with another insurer - SOGAZ. Therefore, this organization will have to apply for the policy. Before the completion of the merger, medical and other policies were issued on the basis of VTB, but now that the deal is 100% closed, such powers have passed to SOGAZ.

In addition to insurance products, this company will offer financial services from VTB. Therefore, to find out how much life insurance for a mortgage costs, you need to contact SOGAZ immediately. Here you can find out the remaining terms of the contract, including information about the base rate, features of renewal and payment of the policy.

SOGAZ

The company guarantees a flexible tariff policy, quick consideration of the application and the opportunity to undergo a free examination if it is necessary to sign the contract (). If you repay the loan early, you can return part of the funds to SOGAZ for life and health insurance for the mortgage. Payment in installments is also allowed. In addition, in this organization:

• you can purchase insurance for 0.21% of the loan balance;
• conclude an agreement for a year or for the entire payment period;
• pay in one lump sum or pay annually.

To calculate the cost, use the calculator at JSC SOGAZ for mortgage life insurance. The company takes into account:

• gender of the borrower and number of years;
• presence of health problems;
• the size of the loan and its repayment period.

To purchase a product from this organization, you need to collect and undergo medical examination. examination and submit online or through a branch in your city.

Ingosstrakh

At Ingosstrakh, mortgage life insurance can be purchased together with other types of policies or separately (. Most Russian banks cooperate with this company, and Sberbank clients receive an additional discount if they apply online. The insured amount here reaches 10 million rubles. The minimum amount of this amount – 100 thousand rubles.

1. To determine the exact payment amount, use the SPAO Ingosstrakh mortgage life insurance calculator. You will find it in the corresponding section of the company’s website.
2. There is also a separate product for those borrowers who apply for housing under the Rosvoenipoteka program.
3. For any of the policies, the application is considered within 15 days. At the end of this period, an agreement is concluded or a refusal is issued (as a rule, an answer is given earlier).
4. When you take out life insurance when taking out a mortgage, you can include several people in the policy. Compensation for each is assigned in shares.

If the risks stipulated by the policy occur, the loan balance is paid in full. Or, when it comes to temporary loss of work due to illness, the company pays 1/30 of the regular payment.

SAO VSK

Before contacting VSK, life insurance for a mortgage can be calculated online in the standard way (). Enter information about the loan and the borrower so that the program can tell you the amount of the payment.

1. If the contract specifies joint borrowers, the insurer enters into a separate agreement with each of them.
2. Payments are made when the client dies or becomes disabled.

To determine the exact cost, use the VSK mortgage life insurance calculator. At the same time, you can be sure that the company works with most of the largest banks in the country. Tariffs here are quite favorable (from 0.29%).

AlfaInsurance

This organization offers several ways to purchase a policy (). Each of them will have its own rate. These options include initial contact and transfer from another company. In the second case, at AlfaStrakhovanie, life insurance for a mortgage will cost less.

Once you have received approval from the lender for the loan, you must submit to purchase the policy. You can submit an application:

• at a company branch located in your city;
• using the form on the website;
• by calling (the application is submitted through a consultant);
• at the bank, when receiving funds to purchase housing.

Using the mortgage life insurance calculator at AlfaStrakhovanie, you can immediately send an application to purchase a policy. Fill out the form fields, calculate the amount required for payment, and then click the submit application button. Based on the results of its review, a company specialist will contact you.

Energy guarantor

In this organization, funds are deposited every year. The agreement is drawn up for the entire term of the loan. To obtain mortgage life insurance, you will need to undergo a medical examination. Although this measure is not always required, it all depends on the size of the loan and the age of the client ().

The amount that the insurer will pay when the risks specified in the contract occur is determined by this agreement. The provisions of the agreement with the bank are also taken into account. Often the amount is equated to the remaining loan payments. This way, the client eliminates possible risks of non-payment by reducing the amount of payment upon annual renewal of the contract.

You can determine your mortgage life insurance rate online. The process takes into account how healthy a person is, how old he is and other standard factors. The exact amount is calculated based on the results of a medical examination and the actual state of affairs. The application () is considered within a day if the entire package of documentation is submitted.

ZETTA

The agreement with this company provides payments in connection with the occurrence of standard risks, such as loss of work, becoming disabled and death. B is charged based on profession, number of types of protection and other factors. You can find out the exact amount by calling or filling out the online form.

In addition to a personal policy, here you will be offered an integrated approach, including several types of protection. Usually a decision on an application is made within a day. Available to clients of all major banks. The company also has Sberbank accreditation.

To receive a final calculation of the amount, you must fill out a form on the website by sending an application with information to the insurer. After 15 minutes, a specialist will contact you and tell you the amount of payment. The contract is prepared remotely, then you are informed about the need to sign it. All you have to do is come to the office and sign an agreement.

Tinkoff

Preliminary calculations can be made using an online calculator. Life insurance for a mortgage is paid for at Tinkoff using a regular card. And the policy can be received by mail as soon as it is paid. Registration is carried out without a visit to the company’s branch. The company has other advantages:

• if an event specified in the contract occurs, it can be reported online at any time of the day;
• money is paid within five days from the date of the decision on the incident;
• initial rates start at 0.29% of outstanding funds, but for each type of risk they add approximately 0.02%.

Payment for life and health insurance of the mortgage borrower is made by card of any bank. But first you should find out about the fees that are charged when transferring funds.

Liberty

Here you can purchase services at the same time as signing the mortgage agreement (). The terms of mortgage life insurance provide for the issuance of a policy for the entire term of the agreement signed with the lender. Contributions are paid once a year. For clients transferring to this company from another, preferential conditions are provided ():

• minimum package of documents;
• save up to 15% on company services.

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There is no program on the site that allows you to determine the cost of the service. You can find out about it at a company branch or by phone. Liberty's mortgage life insurance rates start at 0.20% if the policy only covers the death of the borrower.

1. For a policy that recognizes the client as disabled, you need to pay 0.17% of the total amount.
2. For a policy providing for temporary disability, you must pay 0.13% of the loan amount.

The final percentage of life insurance for a mortgage is determined based on the selected risks and the client’s situation. The company takes into account standard points: how healthy the client is, what profession he works in, number of years, etc.

SF Adonis

Tariffs in this company start at 0.052%, taking into account in the contract that the borrower may become disabled or die. Moreover, accidental incidents and diseases that led to these consequences are taken into account. However, it is carried out with a change in base rates if factors appear that influence the decrease or increase in odds. This rule applies to all companies.

Documents here are processed fairly quickly, they do not require a medical examination, and you can pay for life and disability insurance with a mortgage in installments. If you pay the balance of the loan before the end of its term, part of the funds contributed during the policy period is returned. You can find out more and submit an application by phone or at the insurer’s offices.

Renaissance

Among other documents, the results of a medical examination will be required. B is calculated based on the formula: 1% multiplied by the cost of housing. The base rate starts at 0.15% and reaches 5% with multipliers. The exact tariff depends on the date of birth, gender and other standard factors ().

1. In this company, the life insurance of the borrower for a mortgage works even in case of risks of rare diseases (Zika virus, swine flu and others).
2. When refinancing a loan, the insurer offers discounts.
3. If an examination in a hospital is required to issue the policy, you will not have to pay for it.
4. If you deposit funds early on the loan, part of the money paid for the policy is returned.

It is possible to purchase the product in installments. At the same time, its cost will not increase.

ZETTA LLC

This market participant is one of the leaders in this area. However, do not forget that a mortgage without life insurance will cost more. But the company to purchase the policy should be chosen more carefully. This organization provides the ability to calculate payments online, and the results of determining the exact cost of the policy will be known within 15 minutes.

When calculating the price, the number of risks, the client’s profession, his age and lifestyle are taken into account. Comprehensive life insurance for a mortgage in a company, or the issuance of policies for each individual risk, is allowed.

LLC Absolut

The increase in the cost of the contract is largely influenced by how old the borrower is. If he is over 60 years old, then increased coefficients apply. Working for a company where there is a high risk of injury will also affect your promotion. There are other factors that can be taken into account using the mortgage life insurance calculator in.

The contract can be concluded for a period of six months to 12 months. The basic tariff, if we take into account only the temporary inability to work due to illness, starts at 0.2%. If you purchase a policy indicating the risk of death and disability, the tariff starts at 1.3%. How much money the insurer will pay also depends on the type of incident:

• maximum funds are paid if the client passes away;
• Then there are other serious consequences of injury or illness.

When insured events occur during mortgage life insurance, you must inform the company about the incident, confirm this fact with documents and wait for the application to be considered.

SPAO RESO Guarantee

The company's specialists select the specific program that the lender needs to issue a loan. To conclude an agreement, a minimum package of papers will be required. To speed up the procedure, you can submit documentation electronically.

When all the documents have been sent to the insurer, you must wait for a decision during the day. If the answer is positive, you will be invited immediately to conclude a completed contract. A preliminary medical examination is required. institution? It will be held free of charge (at the expense of the company). For honey You need to apply for an examination if:

• the loan exceeds 15,000,000 rubles, and the borrower’s age is below 45 years;
• loans more than 12,000,000 rubles, and age from 45 years;
• the loan amount is more than 1,500,000 rubles, and the age is 56 years or older.

The calculator posted on the company’s website will help you calculate the cost of life insurance for a mortgage. Contributions are paid at any office of the company. Otherwise, the terms of purchase here are standard.

Rosgosstrakh

The company offers several types of policies, including comprehensive insurance. It will cost differently for men and women:

• the minimum basic tariff for women is 0.07%;
• the minimum basic tariff for men is 0.1%;
• the maximum rates for women and men are 0.8 and 5.6%, respectively.

This program is suitable for most lenders. At the same time, the peculiarities of issuing loans for the purchase of housing are taken into account. Mortgage life insurance for pensioners is also allowed. It is possible to pay fees in installments. If you choose this deposit method, rates will not increase. But first you need to coordinate the situation with the bank.

If you decide to repay the loan early, you will get your money back for the remaining period of the agreement with the insurer. At the same time, confirmed expenses incurred by him in the process of performing his duties will be deducted. You can purchase services at the same time as concluding an agreement with the bank. When purchasing mortgage life insurance, consider insurance companies that are approved by banks. This organization received it in almost all banks.

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Author:

Mortgage specialist Maria Yurievna Sokhan

Publication dateNovember 10, 2019 September 30, 2020

Where insurance is the cheapest - review of the TOP 3 insurance companies

When applying for a mortgage, the borrower incurs various additional costs, which add up to significant amounts. Therefore, the desire to save on insurance is logical and understandable.

Our experts monitored offers from 15 insurance companies with a high reliability rating and excellent reputation, and selected 3 insurers with the cheapest cost of life insurance services. At the end of the review, we made a comparison of the tariffs of these insurance companies.

RESO-Garantiya

The first position in the selection was rightfully taken by IC "RESO-Garantia". The company was founded in 1991. Has licenses for more than 100 types of insurance. According to the Expert RA rating agency, since 2009 the company has annually confirmed the highest possible rating: “Exceptionally high reliability rating AA++.”

RESSO-Garantiya has more than 900 branches and sales offices throughout the Russian Federation, so obtaining insurance will not be difficult. Its policies meet the conditions of most banks.

Ingosstrakh

Second place in the list belongs to JSC Ingosstrakh. This is the largest Russian insurer, included in the TOP 10 in its industry. The organization belongs to the category of systemically important companies, which confirms its high level of reliability.

Ingosstrakh offers not only life insurance for the mortgage borrower. Here you can take out a comprehensive insurance policy (real estate, title, life) on favorable terms.

VTB insurance

The review is completed by another player in the Russian insurance market—IC VTB Insurance LLC. The company is part of the VTB Financial Group. The only participant of the Company is the Bank with state participation VTB (PJSC).

The company has been operating since 2000, constantly increasing the volume of insurance premiums. As of 01/01/18, their value reached 81.2 billion rubles. The insurer has obtained all the necessary licenses for the main types of insurance protection.

And now, the promised comparison table of tariffs:

The information presented in the table is calculated using online calculators on insurers' websites and is for indicative purposes only. Check with insurance companies for exact details.

Perhaps those reading these lines have a question: why are only large insurers represented in the review?

There are 2 reasons for this:

• these companies have the highest reliability ratings, which is very important when insuring long-term mortgages;
• They have proven themselves to be insurers who are impeccably responsible for their obligations. They actually pay when an insured event occurs.

In continuation of the topic, I recommend watching a useful video.