Life insurance for a mortgage at Sberbank 2021: where is it cheaper and how much does it cost?

One of the mandatory conditions for approval of a loan application is insurance. This step is taken by credit institutions to guarantee loan payments. Banks offer clients to insure the property itself, deprivation of guarantee payments (title) and/or the life and health of the borrower (title co-borrower). What types of insurance are required when lending? Cost and documents for registration? Where is it cheaper? Is it possible to refuse? How to get my money back? - we will discuss all this further.

What type of insurance is required when applying for a mortgage at Sberbank

It is impossible to obtain a mortgage loan without insurance from Sberbank. Some borrowers mistakenly believe that this rule is a bank requirement. However, a similar provision is also spelled out at the legislative level, namely in Article 31 of the Law “On Mortgage”. Refusal of insurance will be a reason for rejection of the loan application.

There are three types of insurance when concluding a mortgage agreement. The financial institution will not oblige the borrower to obtain all types of insurance at once. It is only mandatory to purchase insurance for the purchased property. Such a requirement allows the bank to reduce its risks in case of damage or loss of property. Purchasing this insurance policy is the responsibility of the borrower.

Life insurance when applying for a mortgage with Sberbank is not considered a prerequisite. However, if the potential borrower refuses to comply with this condition, then the interest rate will increase. The indicator will be increased by 1%. It can be concluded that paying such an interest rate will cost more money than with life insurance.

Features of payment of compensation in insurance companies

When paying an insurance premium, it is worth considering that:

• the insurance premium is not payable if, at the time of concluding the insurance policy, the borrower concealed information about serious diseases (oncology, HIV, etc.) from the insurance company.
• Death of drug addicts, incompetents, intoxicated, borrowers with heart disease, tuberculosis, HIV is not considered an insured event.

It is important to know that a high tariff allows Sberbank Insurance to make payments without delay and in controversial situations, when other insurance companies are looking for a reason to refuse payment when an insured event occurs, Sberbank Insurance makes a payment and closes the issue. She has the highest percentage of approval of applications upon the occurrence of an insured event.

When an insured event occurs, the borrower (in the event of loss of health or disability) or his relatives (in the event of the death of the borrower) submit an application to the insurance company with a request to pay the insured amount. After this, the insurers pay out funds to repay the mortgage debt from Sberbank. Upon the death of the borrower, the property passes to the heirs as part of the property inheritance procedure.

Let's consider another case: the borrower closed the loan ahead of schedule, but the insurance policy is still valid. What to do in such a situation? Does the property owner have the right to expect compensation for the insurance premium?

Answer: yes. If the loan agreement is terminated, the borrower can contact his insurer and provide documents (certificates or statements) confirming that the loan has been closed. For the unused period (that is, from the moment the loan is closed until the end of the insurance policy), the insurance company is obliged to pay the excess insurance premium. This condition applies to any type of insurance, incl. title and property insurance.

What affects the cost of a life insurance policy?

Borrowers are often interested in what exactly affects the cost of an insurance contract. For each case, the price will be set individually.

The cost depends on the following factors:

• Age and gender of the borrower. For a young client, the cost of the policy will be less than for a representative of the older generation. In youth, there are much fewer health problems, and accordingly, the risks of the insurance company in this case are reduced. There is also a division by gender type of borrowers. Insurance for a woman will cost less than for a man.
• General health. The presence of any serious illness will increase the cost of insurance. The heredity factor will also increase this parameter of the transaction.
• Having excess weight. Any client who is clearly overweight is a risk for the insurance company. Extra pounds lead to various diseases. The insurer calculates the potential client's body mass index in advance. If the generally accepted norms are exceeded, the amount of the insurance policy will be increased.
• Occupation. Representatives of hazardous professions cannot avoid increasing the cost of insurance. The best option for the insurer is considered to be a representative of the office sector. In this case, the risk of work-related injuries is minimized.
• Lifestyle. The presence of bad habits will cause an increase in the cost of insurance. In the proposed questionnaire, you must fill out information about the number of cigarettes smoked per day and your addiction to alcoholic beverages. Fans of extreme sports will also have to pay a large amount for life insurance. They are at too high a risk of injury from skydiving or rock climbing.

"Ingosstrakh" - apartment insurance with a mortgage, cost calculator

Before deciding to choose an insurance company, you need to clarify the price of the policy for your specific case. The Ingosstrakh website has a cost calculator that will help you make your choice. To calculate the cost:

1. Go to the official portal of the insurance company: ingos.ru .

2. In the middle of the page there is a blue field where the site visitor is asked to select the desired operation (buy, renew, pay for a policy, etc.), select “Mortgage” from the drop-down list. In the field on the right, enter the name of the city where the property was purchased. Next, click “Continue.”

3. Fill in the fields directly to calculate the cost of the contract using the online calculator ( ingos.ru/mortgage/calc ):

• Bank's name;
• amount of debt;
• type of insurance (in our case, the risk of damage to collateral);
• year of birth of the borrower;
• gender and duration of the policy.

4. Click the "Calculate" button.

5. The calculator calculates the cost of an insurance policy for collateral, life and health of the borrower. Additional options - insurance of apartment decoration and property, liability to neighbors.

At the moment, when applying for electronic insurance under a loan agreement with Sberbank, a 15% discount is applied. You can make a purchase on the Ingosstrakh website immediately after calculating the cost.

The policy and insurance rules will be sent to your email. These documents have the same rights as regular forms with stamps and signatures. If necessary, they can be printed or saved electronically.

You can find out the cost of insurance in the usual way - contact the representative office in your city and ask to calculate the tariff. You can also obtain this information by calling the insurance company’s call center or filling out an application on the website.

Buying a mortgage policy online at Ingosstrakh

When you have calculated the price of the policy, you need to click on the “Next” button, so you will be taken to filling out an insurance application. Fill out a questionnaire including questions regarding your health status.

You need to answer them truthfully. The fact is that if, when purchasing a policy, the policyholder withheld information about diseases, he will be denied payment.

Next you need to specify:

• Number of the loan agreement and the date of its conclusion.
• Last name, first name, patronymic of the policyholder, date of birth and gender.
• Passport details.
• Registration address.
• Contact information (mobile phone, email address).

Read the terms and conditions of insurance. Click the "Apply Online" button.

If you have any questions while filling out the form, you can immediately ask a consultant on the website. The same should be done if you engage in dangerous sports or your current profession involves increased risk (police, firefighters, Ministry of Emergency Situations, etc.). You do not need to buy insurance when you have diseases described in the rules as unacceptable. Be sure to consult with a representative of the insurance company and get detailed explanations from him.

Clients have access to a comprehensive agreement, which includes not only financial protection of life and health, but also real estate from destruction and title (property rights). There are other additional options available that are best discussed with your insurance agent.

Necessary documents for a mortgage at Ingosstrakh

To obtain financial protection for a mortgage borrower, the following documents are required:

• Passport.
• Loan agreement.
• Application for insurance.
• If you wish to renew your current policy, please provide a certificate about the current status of your loan debt.
• A completed health questionnaire, electronic or paper.

If necessary, has the right to request any documents relating to the borrower’s health. This could be an outpatient card, an extract from it, the results of examinations, tests, certificates from a drug and mental health clinic. The insurer may also require you to undergo a medical commission, on the basis of which the tariff will be calculated.

What affects the cost of mortgage insurance?

The cost of a mortgage insurance policy is always calculated individually; the final value is influenced by:

• Current amount of debt. If the loan is new, then the amount of the loan agreement.
• The policyholder's age, profession and health status.
• Risks taken into account. If the client wants to extend the policy, he will have to pay more (for example, a person is interested in piloting or extreme sports, these conditions can be included in the contract). An increased coefficient is also applied to representatives of hazardous professions, because they are more exposed to insurance risks than others.

What affects the cost of home insurance when applying for a mortgage at Sberbank

It is impossible to answer in advance the question of how much it will cost to insure the purchased property. In this case, several factors come into play:

• Type of living space. The insurer will pay attention to the purpose for which the property is being purchased. The premises that are rented out are not particularly pleasing to the insurance company employees. In this case, the owner has little interest in the safety of the house or apartment.
• Date of construction of the building. Of course, insurance companies love working with new homes. For owners of apartments in old buildings, the policy will cost much more. Some insurers may refuse to cooperate if the construction period of the building is more than 65 years.
• Quality of building materials. Here, the material that was used to create the load-bearing structures of the building plays a significant role. For example, the policy will be cheaper for residents of panel houses than for residents of wooden houses. Wooden structures are more susceptible to damage.
• Sources of open fire. Fans of home fireplaces or stoves will have to pay an increased insurance rate. These factors pose a direct threat of damage or loss of property.

There are factors that can significantly reduce the cost of an insurance policy:

• Availability of alarm system.
• Installation of a flood protection system.
• Fire alarm installation.

All these measures indicate that apartment owners are concerned about the safety of their property.

Review of Mortgage Life Insurance Companies

Citizens can insure their lives when taking out a mortgage loan only in those companies that are accredited by Sberbank. The list of available organizations is small, but all of them have been carefully selected, so there is no doubt that the insurance company is reliable and solvent. The list includes not only subsidiaries, but also third-party organizations with at least 3 years of experience in the insurance market.

The cheapest mortgage insurance: comparison and rating of companies

There is no insurance company that is ready to offer its clients life insurance on the same terms, since each situation is considered individually. Citizens must consider various factors that influence the tariff. If the borrower does not yet know where it is cheaper to insure life, then you should pay attention only to accredited companies that have extensive experience and a high rating. It is best to ask Sberbank for a list of insurance companies with which the bank cooperates.

"SOGAZ"

Over the 25 years of successful operation of this insurance company, millions of citizens have become its clients. Solvency indicators always exceed established standards. More than 1,000 branches have been opened throughout Russia. The company's clients are individuals and legal entities. Many large Russian structures took part in the life and health insurance program for employees. Sberbank is actively working with this company, thanks to which citizens can insure their lives with SOGAZ without worrying about the solvency of this organization.

"Ingosstrakh"

The international level confirms the high rating of stability and reliability of this information on accidents, death of a client, diagnosis of serious diseases. Mandatory contributions can be paid in any convenient way. Qualified employees of JSC Ingosstrakh regularly provide life insurance to citizens who take out a mortgage loan from Sberbank.

"VSK"

A fairly well-known company that operates in most regions of Russia, even in small cities. Sberbank borrowers have access to online life insurance, but only if the loan size does not exceed 1.5 million rubles.

"RESO-Garantiya"

Citizens choose this company most often. It specializes in insurance of individuals and has a high reputation for settling losses in CASCO and OSAGO. "RESO-Garantiya" is the only company where citizens over 60 years of age can insure their lives.

"Alpha Insurance"

A fairly well-known and large company that confidently strives for leadership. Among the positive characteristics of the organization are financial reliability and affordable tariffs. But citizens should be prepared for the fact that even with a small loan amount they will have to undergo a medical examination.

"VTB Insurance"

A subsidiary of VTB Bank, which will soon cease to exist independently, as it was sold to SOGAZ. Many citizens prefer to insure their lives with this company, which has proven itself to be financially reliable.

"Zetta Insurance"

Not the most famous or largest company in Russia, but it has a good reputation for customer service and loss settlement. The Zetta Insurance organization is accredited by almost all banks and offers its clients programs with favorable rates. If, when applying for a mortgage with Sberbank, the borrower decides to insure his life with this company, then he will have to provide a medical report on his state of health at the time of signing the contract.

How to buy mortgage insurance cheaper from Sberbank

Specialists and experienced borrowers provide the following recommendations for saving money when purchasing an insurance policy:

• You should not take out insurance from Sberbank itself. A bank employee will offer this type of service in an intrusive manner. Be prepared for the fact that such persuasion may be aggressive in nature. However, you should not accept the information voiced by the manager. Borrower indecisiveness can cost additional expenses. Say that you need time to think about what you have learned. You can contact other accredited companies that will provide insurance services at a more favorable rate.
• It is better to make a woman as the main borrower. Insurers can significantly reduce insurance rates for women. This is associated with a lower risk of injury.
• Don't hesitate to ask about discounts for regular customers. This applies to those citizens who apply for CASCO or MTPL from one insurer every year. It is possible that an additional discount will be offered for apartment insurance. Quite a lot of insurers immediately make concessions so as not to lose a regular client.
• Ask about promotions or special offers. You should not expect that the manager will literally immediately please the client with a big discount. The insurer’s task is to conclude a contract at the highest possible cost. However, with persistent mention of discounts, some are ready to reduce the cost of the insurance rate to 15%. The insurer is especially strongly influenced by the words that the lack of discounts will force you to turn to another company.

What is the mortgage recipient insured against?

The borrower will protect himself from the risks associated with loss of ability to work, dismissal from work and accidents if he decides to insure his life in a timely manner. Otherwise, responsibilities for an unpaid loan from Sberbank pass to the borrower’s closest relatives or co-borrowers. Heirs will not have to pay debts only if an insurance policy is issued in a timely manner.

To ensure that Sberbank clients no longer have questions about whether it is necessary to insure life when applying for a mortgage, it is necessary to take into account a number of nuances. During the period of repayment of the loan debt, the client may lose his ability to work as a result of an accident or illness. In this case, the person may become disabled. If, after studying all aspects of the case, Sberbank employees do not find signs of intentional harm to health and life in the borrower’s actions, then he need not worry about further repayment of the debt.

Sberbank clients can use standard or extended insurance. In the latter case, the conditions cover loss of ability to work and dismissal from permanent employment for any reason (other than intentional harm). The extended policy is more expensive than the standard option.

Life insurance when applying for a mortgage is encouraged by Sberbank: when the transaction is completed, the interest rate on the loan is reduced by 1%.

How much does home insurance cost?

The insurance issued has a limited period of validity. As a rule, the period is 1 year. Therefore, the mortgage borrower will have to contact the insurance company annually until the debt is fully repaid.

When contacting any accredited company, you will be charged approximately the same cost for the insurance policy. This parameter is about 0.25% of the total transaction amount with the lender. It is worth considering that the cost will be announced based on the balance.

Important! The amount of insurance premiums will become lower every year due to the payment of mortgage debt.

Where is it cheaper to get insurance?

Before choosing an insurance company, you should compare current offers. The cost of life insurance for a mortgage from Sberbank is not the lowest.

A deal with an insurance company can guarantee an extension of mortgage payments in the event of unforeseen circumstances. At the same time, your credit history will not be damaged by late payments.

Strakhovkaved.ru specialists have prepared a review of popular insurance companies in 2021, where the borrower takes out life insurance for mortgage lending, choosing the cheapest option for himself.

Buying a service cheaply does not mean ensuring your own safety. Before purchasing, you should carefully read the contract with the insurance company.

Stages of obtaining an insurance policy

The company Sberbank Insurance operates on the market, where you can issue a policy online.

To do this you only need to follow a few steps:

1. Log in to the Sberbank Online application.
2. Log in to your personal account using your login and password.
3. Next, go to the “Insurance” section and click the button to purchase the service.
4. Now you need to find a subsection with mortgage insurance. Here you can familiarize yourself with the basic rules for issuing a policy.
5. Find the button to calculate the cost. If the presented conditions fully satisfy the client, then you can proceed to purchasing the policy.
6. At the next stage, a page for making a payment will open in front of the user. You should choose a convenient option.
7. A completed sample policy will be sent to the client’s email.

Features of mortgage insurance

You can apply for the policy directly at the bank when signing the loan documentation. You will have access to the services of subsidiaries of a financial organization - Sberbank life insurance and Sberbank insurance. Or you can independently contact the list of Sberbank mortgage insurers.

If you choose the second option, you need to clarify the possibility of ordering a policy through the insurance company’s website. As a rule, remote registration is carried out only in relation to collateral property. Life and health insurance requires a much more in-depth assessment and cost calculation, so it is impossible to do without the participation of an insurance representative.

What affects the cost of mortgage insurance on the collateral:

1. The balance of the debt at the moment. It will also be considered the amount of coverage if an insured event occurs.
2. Type of property, its location, technical characteristics.

What factors are taken into account when calculating the cost of financial protection for a borrower:

• balance of debt. You can insure for a larger amount, then if an accident occurs, the difference will be paid to the policyholder or his heirs;
• mortgage repayment period;
• age of the insured person;
• risks. Standardly, the policy includes protection in the event of death or disability of groups 1 or 2, but it can be expanded according to the terms of the insurance company;
• client's profession. The more dangerous it is, the higher the coefficient is applied;
• health status. For some diseases, the policy will be denied.

Which company is cheaper to get an insurance policy for mortgage lending in Sberbank

It’s worth saying right away that there is no insurance company that could offer the most favorable conditions for absolutely every client. Reviews on websites or advice from friends may not bring the expected benefits. There is no guarantee that absolutely identical insurance conditions will be offered to two clients. Factors influencing the tariff play a key role here.

Important! To find profitable insurance policies, it is recommended to contact all accredited insurance companies of Sberbank. The request can be sent to several institutions at once.

Let's look at popular insurers and their conditions.

Sberbank Insurance

The organization acts as a subsidiary of the bank of the same name. This insurer offers a number of programs for mortgage borrowers. The cost of the policy will depend on the age of the client, as well as the quality of the building materials used to build the house.

The company has established itself as a reliable partner in the insurance market. It is possible to issue a policy online. This option for completing documentation can give the client an additional discount of up to 10%.

However, we should remember some shortcomings in the activities of this company:

• Aggressive solicitation of services.
• Quite high rates for purchasing a policy.
• May provide unverified information about other insurance companies. For example, that other companies will not pay insurance if an insured event occurs.

Ingosstrakh

This is one of the largest insurance companies in Russia. This organization has managed to gain a positive reputation among clients.

The advantages include:

• High level of reliability and solvency.
• Developed network of branches throughout Russia.
• An insurance policy can be issued directly on the company’s official website.

Disadvantages of the company:

• There are quite strict requirements for clients.
• A large number of risk exclusions.

SOGAZ

This company has a large-scale structure in the Russian Federation. The organization presents a large number of projects for individuals.

The advantages of its activities include:

• Solid reputation.
• High level of solvency.
• The company's branches are located in almost every city in Russia.
• Tariffs are distinguished by a reduced rate when compared with other offers on the insurance market.

Flaws:

• It is quite difficult to contact company employees regarding the calculation of preliminary costs.
• There is an active imposition of additional services.

Sberbank - Is it necessary to insure life on a mortgage?

No, you can insure your mortgage with another insurance company accredited by Sberbank. According to the law, the bank cannot sell additional services when drawing up a loan agreement and, accordingly, oblige it to be insured with Sberbank Insurance.

Mortgage insurance at Sberbank: where is it cheaper and more profitable to get it?

It is impossible to answer this question unequivocally. The fact is that each insurance company applies its own tariffs, which are often adjusted. You should find out about current offers immediately before applying for a home loan. This can be done at the Sberbank office with a credit manager, who will be able to immediately issue a policy.

The second option is to buy insurance directly from the insurance company. The cost of the policy can be calculated using an online calculator on the insurer's website. The table shows the top 10 companies:

If you find financial protection cheaper than at a bank, you should clarify whether the company you have chosen is one of the accredited ones. The Sberbank website has an up-to-date list of partners (sberbank.ru/ins_comp_prop.pdf) - insurance companies, contracts with which the lender accepts as mortgage protection.

You should be wary if the cost of the policy is too low. Find out in detail what is included in the list of insured events, under what circumstances the loan is not covered. The fact is that the cost of insurance on the market is always approximately the same; not a single insurance company will work at a loss. This means that there is a catch somewhere in the text of the contract; study it carefully.

Advantages of mortgage insurance with Ingosstrakh compared to Sberbank

Ingosstrakh is one of the most reliable insurance companies, and provides mortgage insurance at competitive rates.

Let's consider where it is more convenient and profitable to insure a mortgage, at Sberbank Insurance or Ingosstrakh:

• Insurance risks are the same. This is the loss of life and the onset of disability of groups 1 and 2 (permanent disability). Ingosstrakh has the opportunity to expand policy coverage and increase the insured amount with the condition that the difference be paid to the borrower's family.
• Registration online on the organization’s website. On the Ingosstrakh portal this service is more convenient, because a person can immediately calculate the cost and purchase a policy. Here you can really make a purchase in a few minutes. At Sberbank Insurance, this option is not always available. Often the service sends the client to contact a representative of the insurance company directly.
• Comprehensive mortgage insurance is available from both insurers.

The main parameter that mortgage borrowers pay attention to is cost.

Under the same conditions entered into the calculator (loan amount 1 million rubles, client age 28 years, female), the cost of insurance at Ingosstrakh was 1,500 rubles, taking into account a 15% discount for Sberbank borrowers.

Sberbank Insurance calculated the cost of the insurance policy at 2,250 rubles.

How to save on life insurance

You can give some tips on how to save money on your insurance policy.

1. Firstly, if the borrower has previously used the services of any insurance company, then it is better to contact it again. In this case, you can get additional discounts. After all, insurance organizations encourage their clients who are committed to long-term cooperation.
2. You can also save money when changing your profession. This opportunity depends on what the previous profession was and what the new one was. If previously a person performed work involving great risk, then the tariff was calculated with an increasing factor. If the new job has become calmer and safer, then the tariff may be revised and lowered.
3. You can switch to service from another company. It is wise to constantly monitor offers on the insurance market so as not to miss out on profitable products.

In the first and third cases, be sure to ensure that the company whose services the borrower plans to use is accredited by Sberbank.