How to return insurance on a loan at Sberbank in 2021

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

To get rid of the additional financial burden and save money, you should understand how to return insurance for a loan at Sberbank in 2021. And also in what time frame it needs to be done.

Is it possible to return the insurance

Refusal of an additional debt burden is a legal right of the borrower (Article 958 of the Civil Code of the Russian Federation), while there are certain deadlines for the procedure. Since the insurance of banking products is voluntary, you can return the funds even after signing the contract.

The paid amount is transferred to the client in full, if he applied with the corresponding application within 14 days. In other cases, you can count on a partial refund, the amount of which depends on the amount of the insurance premium.

The exception is a home loan. In this case, the insurance policy is issued for the collateralized property. The insurance is only refundable if the borrower has protected his or her life.

Legal grounds and terms of return

A client of Sberbank may demand a refund of the sum insured, relying on the following regulatory legal acts:

1. Law of the Russian Federation "On Protection of Consumer Rights". Art. 32 indicates that a Citizen is entitled to a partial refund of funds under a life insurance policy if the loan obligations were fulfilled ahead of schedule and in full. Art. 10 secures the right of the borrower to terminate the insurance contract and receive funds in full if deficiencies were identified in the proposed program, or the contract was drawn up and signed by fraud on the part of the lender.
2. Civil Code of the Russian Federation. Art. 359 says that if an insurance company or bank delays in refunds, interest will be charged on the amount withheld. In such cases, the borrower receives a payment in excess of the requested amount. Art. 958 establishes that the payer can claim a refund of the sum insured in whole or in part, if such a clause is spelled out in the insurance contract. And Art. 1102 states that if the bank withheld the insurance payment as a commission, the client can apply for a refund along with compensation for moral damage.

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Full insurance refund (100%) is made within 14 days. Half of the price (50%) can be returned within 6 months. Partial refunds are allowed after the termination of the contract with the lender.

If the loan was repaid ahead of schedule, the borrower has the right to demand recalculation of insurance balances.

How to get your insurance premium back

Each lender, including Sberbank, tries to minimize financial losses associated with the payment of insurance compensation. The company's lawyers put forward many reasons for recognizing the client's claims as insolvent, therefore, it is possible to guarantee the return of funds only on condition that this right is spelled out in the agreement.

Within 14 days

The insurance premium is refunded in full within 14 days following the day of the conclusion of the contract. This requires:

• apply to the bank with an application for a refund;
• avoid the occurrence of an insured event;
• wait for the money to be transferred to the details specified in the application.

The conditions for the return of insurance issued in Sberbank are spelled out in the insurance rules (clause 7):

1. The sum insured is refundable only if the borrower has indicated a waiver of insurance during the cooling off period. In other cases, the funds paid as an insurance premium will not be refunded.
2. The cooling period is specified in the contract and is usually 14 days.

The cooling-off period is the period during which the customer can withdraw from the signed agreement and demand a refund of the insurance premium.

After 14 days

The Civil Code of the Russian Federation provides for the payment of compensation in full only with early application, that is, immediately after receiving a loan. It is possible to return insurance for a loan at Sberbank after the specified period.

This is allowed if an additional agreement has been concluded between the insurance company and the borrower, providing for the possibility of a return. The agreement, drawn up according to the standard rules of Sberbank, does not contain such a clause.

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Return of insurance in case of early loan repayment

Early termination of a loan agreement with an annuity calculation option is allowed.

The annuity repayment method provides for a monthly payment of a fixed amount.

At the request of the client, the amount of the payment can be increased, which will allow the loan to be closed before the expiration date. In this case, no interest will be charged for the unused period, and the client has the opportunity to return the unspent insurance.

To terminate the agreement in case of early repayment of the loan, you must come to the office of the company and submit the following documentation:

• application for a partial refund of insurance;
• passport;
• receipts confirming early loan repayment;
• loan agreement.

The bank will recalculate and return the unused part of the money.

The amount of funds returned is determined depending on the actual period of use of the borrowed funds. That is, customers who repay the loan in a short time can count on a larger compensation.

The cost of insurance at Sberbank varies from 1 to 5% of the loan amount.

If the return of the insurance was denied

The bank is obliged to notify the borrower of the decision taken within 10 days after the application. If a negative answer was received, or the company ignored the client's statement, you can try to resolve the disputed issue through the court. The absence of a clause on reimbursement of insurance in the loan agreement may become grounds for refusal.

Outcomes

You can return the full cost of the insurance policy within 14 days after the conclusion of the contract. In some cases, the policyholder returns part of the amount received at later stages of the loan agreement. In case of early repayment of the loan, the unused part of the funds is also subject to return. To register a refusal, you must come to the bank office with a package of documents.