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Rusfinance Bank can refuse insurance. Car loan without insurance - is it possible? The negative side of insurance and options for refusing it

Life insurance for a car loan has become a completely common service, which is regularly offered by almost all banks without exception. Some time ago, canceling insurance was quite simple, just by submitting a corresponding application to the insurance company within five days. Nowadays, insurance documents increasingly contain wording that if the contract is refused or terminated early, the amount of the insurance premium will not be returned.

How legal are such documents and is it possible to return the insurance paid when obtaining a car loan for life insurance?

Life insurance and car loan: can they refuse?

​According to the provisions of the legislation “On the Protection of Consumer Rights”, no service or product can be imposed against the will of the buyer or customer of this service.

In relation to bank loans and insurance services, which are regularly imposed on almost every borrower, the application for a loan and insurance probably contains the wording that “... insurance is not a factor influencing the approval of a loan...”. Bank employees are very fond of hinting “in secret” that without insurance, a loan will most likely not be approved.

The result is a stalemate:

  • By law, the bank does not have the right to refuse on the grounds that you do not want to be insured.
  • But the bank is not obliged to report the reason for refusing a loan, which will not allow you to find out about the true motives.

As a result, even if the bank announces the reason for the refusal, it can be any motive (the bank will not even hide it), ranging from a 500-ruble delay in the credit history made six months ago, ending with an excessive number of loans (a couple or one large one is enough). ). But with insurance, the loan would probably have been issued.

It is almost impossible to prove this fact, just as it is impossible to force a bank to issue a car loan without insurance. The only way was and remains to take out a car loan on bank terms with all insurance, and then terminate the insurance contract.

Is it possible to refuse life insurance and how?

The bank offers to conclude a life insurance contract usually in one of the following ways:

  1. An individual agreement with an insurance company, in which the bank acts only as an agent. The insurance premium is paid directly by the borrower to the insurance company.
  2. Collective insurance agreement. In this case, the insurer is the bank, which enters into an agreement in favor of its clients, and the clients, upon receiving a loan, write an application to join the collective insurance program. The payer of the premium under such an agreement is the bank, and the client only compensates him for the costs that the bank has already incurred or will incur in the future.

The methods and procedure for canceling each of the listed agreements are different, so we will consider them in more detail.

Cancellation of an individual life insurance contract

This agreement can be canceled during the so-called “cooling-off period”, that is, within 5 days from the date of conclusion with a full refund.

In the future, you can also refuse it, but the money will be returned minus the days of actual use of the insurance.

To refuse insurance services, you must send the appropriate application for termination of the contract to the insurance company with reference to the relevant clauses.

The period for consideration of such an application cannot exceed 30 days.

In the future, the insurance company will decide to return the funds or refuse it by sending a written response to you.

IMPORTANT: In case of refusal to return the funds, it can be appealed to the court.

Refusal from the collective insurance agreement

It is when joining a collective insurance agreement that banks most often introduce conditions stating that in the event of unilateral termination of the agreement, the insurance premium is not refundable.

What is important is that the insurance premium is paid at a time by the bank for the entire insurance period and is included in the monthly payment for the borrower. The premium amounts can be very, very significant.

Example: The bank issues the borrower a car loan in the amount of 500,000 rubles, of which only 375 thousand are transferred to the car dealership to pay for the vehicle. 125 thousand is an insurance premium, money for which the bank “kindly” agreed to provide the borrower with a loan, paying for it to the insurance company. As a result, the borrower pays interest on something that he did not even hold in his hands.

The only way to save on insurance is to pay off the loan as early as possible. In case of early repayment, the bank recalculates and returns part of the premium for unused months.

If the contract expressly states a prohibition on refusal to perform the contract, you can try to do one of the following:

1. Send an application to the bank to terminate participation in the insurance program and return the funds paid.

Banks focused on satisfying the interests of the client often make concessions and, despite the wording about the impossibility of repayment in the contract, exclude the borrower from the insurance program, releasing him from the obligation to pay insurance.

Such an application must be sent within the general “cooling off” period - i.e. within 5 days. It is advisable to consult an experienced lawyer for advice, both before signing an insurance contract and before drawing up an application.

2. Challenge the imposed service through the court.

To confirm the fact of imposing a service, you need to take care of evidence.

Stock up on a voice recorder, or even better, a phone with a camera turned on and facing the bank representative.

During the conversation, ask him the following questions:

  1. Will the conclusion of an insurance contract affect the decision to issue a loan?
  2. What happens if you refuse life insurance?
  3. Is it possible to re-apply after being rejected by insurance and is there a chance that such an application will be accepted and approved?
  4. What reasons does the bank give for refusal?
  5. Are you sure the decision to issue a loan is not related to insurance?

In at least one of these questions, a bank employee will directly or indirectly hint at a high chance of refusing a decision on a loan without insurance.

If the answer to question No. 3 was “Yes,” then proceed as follows:

The key evidence will be the audio or video recording you made of the conversation with the bank representative, since everything in the bank’s papers is 100% in order. Every application and agreement probably states that the decision to issue a car loan and insurance are in no way connected.

  1. Prepare a claim to terminate the insurance contract and return the funds paid as an insurance premium or reduce the monthly loan payment if the premium is included in it. To do this, it is better to consult a lawyer in advance.
  2. Submit a petition to include in the case and study the evidence: your video recording.
  3. Point out the fact that you agreed to insurance only for the sake of issuing a loan, without having any real intention of insuring life, and at the same time were misled by a bank employee.

When the case is supported by an experienced lawyer, there is a high chance of restoring justice and canceling the life insurance contract with compensation for all expenses incurred.

Car loans are widely popular among both individuals and businesses, as they allow you to purchase a vehicle if you don’t have enough of your own funds.

Recently, when applying for a car loan, the borrower undertakes to additionally purchase a CASCO policy, which allows you to receive insurance compensation in the event of theft or breakdown of the vehicle and insure your life against an accident.

Dear readers! The article talks about typical ways to resolve legal issues, but each case is individual. If you want to know how solve exactly your problem- contact a consultant:

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Are the bank's insurance requirements legal? Where you can purchase insurance policies and how to refuse insurance if the borrower disagrees, read on.

Is it necessary

Borrower life insurance upon receipt is beneficial for all parties:

  • the bank, with additional insurance, increases the profit received, since in most cases the cost of the policy is included in the amount of borrowed funds on which interest is charged;

In addition, the credit institution receives an additional guarantee of repayment of the issued funds, since the bank is the beneficiary. Bank employees, as a rule, are insurance agents and receive a commission from the transaction.

  • insurance companies that issue policies receive income in the form of an insurance premium paid by the borrower when purchasing an insurance policy;
  • When concluding an agreement for a car loan, the borrower may receive a reduced interest rate, which will affect the full cost of the loan.

Additionally, the borrower gets the opportunity to cover the debt to the bank with borrowed funds in the event of an insured event (illness, death, disability, etc. The full list of insurance risks is negotiated individually).

Most banks involved in issuing car loans include the provision of compulsory life insurance for the borrower in the loan agreement. However, this condition is not mandatory, and the borrower has the right to refuse.

When refusing insurance, the bank has the right:

  • increase the interest rate for the use of borrowed funds. This condition is specified at the stage of consideration of the received application;
  • reduce the amount of your car loan. The decision is made unilaterally without the consent of the borrower;
  • refuse to issue a car loan;
  • require from the borrower additional guarantees of the return of funds received. For example, a guarantee, a pledge of real estate, and so on.

How to refuse life insurance with a car loan

If the borrower does not want to insure his life, then he has the right to refuse the service offered by the bank.

You can do this:

  • directly when choosing a car loan program. Many offered loan products (for example, express car loan) are issued without the mandatory issuance of an insurance policy, so when choosing a loan product, it is recommended to carefully read the proposed conditions. This is the simplest and most common way to refuse to purchase an insurance policy;
  • after drawing up a loan agreement and purchasing a vehicle.

You can refuse insurance from the insurance company or through the court. This action requires additional effort and time.

Insurance companies providing services

When applying for a car loan with the condition of compulsory life insurance of the borrower, the bank is obliged to provide the interested client with a complete list of insurance companies whose operating conditions fully satisfy the requirements of the credit institution.

In turn, the borrower has the right:

  • select an insurance company from the list offered by the bank. Each credit institution cooperates with certain organizations that are partners of the bank;
  • independently select an insurance organization with which an appropriate contract will be concluded.

It should be noted that insurance in a company not listed on the bank's list may lead to the following problems:

  • failure of the bank to accept the insurance policy. Any credit institution may refuse to provide insurance if it was purchased from an organization not listed on the list. Failure to accept insurance will result in the impossibility of receiving funds to purchase a car or the need to obtain another insurance policy;
  • spending extra time searching for an insurer, issuing a policy, and drawing up a loan agreement.

If insurance is issued in an organization specified by the bank, then a representative of the insurance company can work directly at the credit institution, which reduces the time spent on searching and moving from one office to another.

The essential terms of the insurance policy are the same in almost all banks:

Sum insured Can be defined as:
— the cost of the purchased vehicle;
— car loan amount;
- the amount of the remaining debt on the issued car loan (applies only in case of renewal of the insurance policy)
Duration of the insurance policy — 1 year (standard condition). If the loan term is more than 1 year, then the contract may stipulate the need for an annual renewal of the insurance policy;
— car loan term (determined by agreement and applied subject to the conclusion of a loan agreement for a period of less than 1 year)
Beneficiary under the insurance policy Bank that issued the car loan
List of insurance cases - death of the borrower;
— receipt of disability, subject to the borrower’s limited ability to work;
— injury, including as a result of a traffic accident (payment during the period of temporary incapacity for work)

If an insurance policy is issued at a bank in parallel with the signing of a loan agreement for the purchase of a vehicle, then the standard insurance conditions are as follows:

  • a complete list of insured events;
  • the insured amount is equal to the amount of money issued for the purchase of a car;
  • the insurance period is equal to the loan term;
  • the insurance premium is paid in a lump sum when purchasing a policy;
  • The recipient of insurance compensation upon the occurrence of an insured event is the bank.

The most popular insurance companies, whose policies are accepted by most banks, are:

  • OJSC "AlfaStrakhovanie";
  • JSC "VSK";
  • LLC IC "VTB Insurance";
  • LLC "Insurance Company Helios";
  • JSC "Insurance Company ZHASO";
  • SPAO "Ingosstrakh";
  • PJSC IC "Rosgosstrakh";
  • SPAO "Reso Garantiya";
  • Renaissance Insurance Group LLC;
  • LLC SK "Soglasie"

What is the price

The cost of an insurance policy depends on many different factors, including:

  • the amount of the insurance amount issued upon the occurrence of an insured event;
  • insurance period. A shorter term insurance policy will cost less;
  • occupation and hobbies of the insured person. If a person works in a dangerous industry or performs risky stunts, then the cost of insurance increases;
  • gender and age of the person;
  • basic health indicators (presence of diseases);
  • list of insured events.

In most cases, when applying for a car loan, only one factor is taken into account - the amount of the sum insured, and the cost of the policy is determined as a percentage of this indicator.

The approximate cost of a borrower's life insurance policy depending on the insured amount is presented in the table:

Sum insured, rub. Cost of the insurance policy, rub.
500 000 3 450
750 000 5 150
1 000 000 6 830
1 500 000 10 240
1 750 000 12 000
2 000 000 13 650
2 500 000 17 100
3 000 000 20 480
3 500 000 23 890
4 000 000 27 300
4 500 000 30 720
5 000 000 34 125

Termination of an agreement

How to get money back for life insurance with a car loan? A standard life insurance contract includes an early termination option that can be effected at a specified time.

For early termination, you must submit a written application to the insurance company (bank, if the credit institution is a representative of the insurer), indicating:

  • insurance policy details;
  • personal data of the insurance policy owner;
  • reason for early termination.

The application must also contain a request to return the unused insurance premium and bank account (bank card) details to the insured person for a refund.

The received application is reviewed by an employee of the insurance company within 1 - 3 business days, after which a certain decision is made.

In case of possibility of early termination:

  • a written notification is sent to the insured person;
  • The funds are returned minus the amount spent for the insurance period and the mandatory part established by the insurance contract.

If there is no provision for early termination in the insurance contract, you can send a claim to the bank with a request to return the funds spent on paying the insurance premium.

The claim against the bank includes:

  • Full name of the borrower;
  • details and main terms of the loan agreement;
  • request to return the money;
  • the following actions if the claim is left without consideration and decision.

If it is not possible to terminate the insurance contract through an insurance company or bank, that is, the insurer (bank) refuses early termination, then the insured person has the right:

  1. Go to court with a corresponding claim. In court, you will have to prove that the borrower’s life insurance service was imposed by the bank. Otherwise, the court will take the side of the insurance company and the credit institution. The statement of claim contains the following information:
    • name of the court;
    • Full name of the plaintiff;
    • name of the defendant;
    • details and terms of the agreement for issuing a car loan;
    • requirements.

    A copy of the loan agreement and a document confirming payment of the insurance premium must be attached to the claim.

  1. File a complaint with Rospotrebnadzor (the action can only be taken when an insurance policy is imposed by the creditor bank). The application must indicate:
    • Full name of the borrower;
    • name of the credit institution that issued the car loan;
    • number and date of conclusion of the loan agreement;
    • main conditions of the concluded loan agreement (amount issued, term, interest rate);
    • a clause in a loan agreement that violates consumer rights and a full description of this condition for obtaining a car loan;
    • request (to take punitive measures against the bank or eliminate the problem).

If the imposition of additional services is detected, the creditor bank may be subject to administrative punishment.

In addition, the bank is issued an order to eliminate the identified offenses within a specified period, otherwise the credit institution may lose its license to conduct banking activities.

Where can I get a loan without life insurance?

You can get a car loan without life insurance from the following banks:

Bank's name Basic conditions of a car loan without life insurance
Down payment, % of the cost of the vehicle/Maximum car loan amount, rub. Credit term Range of interest rates, % per annum
Sberbank 15/5 million 3 months - 7 years 9,5 — 17
15/4.5 million 1 month – 5 years 13,5 – 17,5
VTB 24 20/10 million 12 months – 5 years 7 – 15,9
0/6.5 million 12 months – 5 years 15,2 – 22,2
15/1.5 million 1 month – 5 years 13,5 – 16,5
10/6.5 million 6 months – 5 years 15,5 — 20

Buying a car using credit funds is the only way for many to acquire a vehicle. But the bank has to overpay a substantial amount. As a rule, this includes not only interest on the loan, but also various additional services. Let's figure out whether it is possible to get a car loan without insurance or return funds already paid.

What insurance is needed when buying a car on credit?

A targeted loan for the purchase of a car provides that the vehicle will serve as collateral for the bank. If it is impossible to return the loan funds, the client will be forced to part with the car. After its sale through auction, the financial institution receives the funds issued to the borrower.

The law provides for insurance of collateral property. This condition is mandatory when applying for a loan. In this case, the bank insures the car, and not the civil liability of its owner. The CASCO policy covers basic and additional risks. The first group includes:

  • accident;
  • fire;
  • arson;
  • damage from foreign objects;
  • natural disasters;
  • hitting an obstacle;
  • theft or intentional damage by third parties.

Additional conditions for insurance payment are developed by the insurance companies themselves. This could be, for example, damage to the paint layer or theft of a car from an area that is not guarded. The cost of the service increases depending on the list of additional insurance risks.

You will not be able to refuse CASCO if you purchase a car on credit terms. But you can save on compulsory insurance. You should not agree to an offer from a bank or seller to issue a policy through a financial institution. It is better to choose the company yourself and provide the lender with an insurance contract. In this case, the client chooses additional risks independently. Insurers will accommodate you if you refuse some items that do not suit you. This will slightly reduce the cost of the policy.

Is life insurance required when taking out a car loan?

Often, purchasing a car on credit occurs at a sales showroom. When choosing a suitable offer, the consumer focuses primarily on the interest rate. But financiers are focused on maximizing profits. Therefore, under the promise of a low rate and interest-free loan, there are overpayments for insurance or various commissions. The manager is interested in the client paying as much as possible. He receives his percentage of the issued loan and the cost of the insurance policy.

Insurance is often included in the cost of the loan, which is called “by default.” The buyer asks a reasonable question: why has the amount to be returned increased slightly? They explain to him that this is insurance, which is necessary to receive preferential interest on the loan. Many buyers simply do not know whether life insurance is necessary for a car loan and agree, considering it necessary. Only at home do people realize that they are far from winning. Insurance cost them more than interest on the loan, and their refusal would not have affected the approval of the loan.

To avoid unnecessary expenses, there is no need to rush into making a purchase. If the manager insists on the need for life insurance, refer to the fact that the service is voluntary. You can find out how refusal of insurance will affect making a positive decision yourself. You just need to call the bank at the specified phone number or invite a senior manager. As a rule, after this the loan is issued without any mention of the unnecessary service.

Although taking out this type of insurance is not mandatory, it does provide some advantages, especially if you are purchasing an expensive car. If something happens to the borrower, the company will repay the loan debt. Otherwise, financial obligations will pass to the heirs. In addition, you can insure yourself in case of job loss, which is very important these days.

How much does life insurance cost with a car loan?

There is no specific fixed amount; it all depends on the policy of the insurance company. The cost consists of various factors. First of all, this is the amount paid upon the occurrence of an insured event and the duration of the contract. The shorter the period, the less you will have to pay. These two indicators are decisive.

When calculating the cost of insurance, the age of the borrower plays a role. Citizens over 40 years of age are at risk; for them, the price of the policy will be approximately 10% higher. Life insurance is more expensive for men than for women, since the stronger sex has a statistically shorter life expectancy and is more susceptible to bad habits. The average amount of insurance issued through a bank is 1-1.5% of the loan size.

How to cancel insurance if you already have it

As follows from the above, the answer to the question: “Is it possible to refuse life insurance with a car loan?” will be positive. But what should those who, out of ignorance or succumbing to persuasion, agreed to take out a policy and want to get their money back, proceed? First you need to figure out who to contact. If the agreement was drawn up at a bank or car dealership, the claim must be addressed to the financial institution. If the policy was issued at the office of the insurance company, the application is sent there.

Since insurance is a consumer service, the client has the right to refuse it. Russian law provides for such a scenario. From March 2, 2016, by decree number 3854-U of the Central Bank of Russia, a so-called cooling period is established for a minimum period of 5 days. From January 1, 2018, it will be extended to 14 days. During this period, you must notify the insurer of your desire to terminate the contract.

This law allows you to return “life insurance” on a car loan. A policy that provides benefits in the event of illness, injury or loss of employment can also be waived. The main condition for return is the absence of insurance events during this time. Some insurance companies indicate in the contract with the client that it is impossible to terminate it. However, this goes against the law. Such conditions may be challenged in court.

Please note that car insurance (CASCO) is not included in the list of services that are covered by the “cooling off period”. Therefore, even if you find out that you signed an agreement with unfavorable conditions, you will no longer be able to terminate it.

How to issue a refusal

Let's tell you a little more about how to refuse life insurance for a car loan during the cooling-off period. To get a refund for insurance, you must contact the office of the company providing the service within 5 business days. Two copies of the application for early termination of the contract are handed over to the manager. After registration, one of them is returned to the client. It is imperative to ensure that the second copy bears a mark indicating registration of the document.

Insurers are given 10 days to review the application. After this time, the company must return the money. Funds are transferred to the account specified in the client’s application or issued in cash. If the application for refusal was submitted before the start of the contract, insurers are obliged to return 100% of the amount.

You can contact insurers in person, but it is also possible to transfer documents via courier service or send them by mail. If you decide to use the latter option, make sure that the papers do not get lost in transit. Issue a registered letter with a list of attachments and a receipt confirmation.

Is it always possible to get money back for insurance services?

The cooling-off period law applies to policies taken out directly from insurance companies. When concluding an agreement with a bank, it is not always possible to get back the money spent. The fact is that group insurance programs that operate in financial institutions are not subject to the “cooling off period”.

This provision is indicated in the contract and is not a violation of the law. The bank acts as an intermediary between the client and the insurance company. In this case, relations arise between legal entities that do not fall under the provisions of the Central Bank of Russia. Some companies, for example, Sberbank Insurance, provide the possibility of refusing the collective insurance program. After this, the client's money will be returned.

How to get your car loan insurance back if you repay early

If the client, having made a purchase on credit, regularly made monthly payments and repaid the debt according to the payment schedule, he cannot count on the return of the insurance. The company has fulfilled its obligations to provide the service. The insurance contract expired along with the end of the loan period. In cases where the loan is repaid ahead of schedule, the client has the right to a refund of part of the insurance premium.

In this case, the borrower must contact the company providing the service. To process a return, you must submit the following documents:

  • two copies of the application;
  • a copy of the loan agreement;
  • a certificate confirming the closure of the debt;
  • passport.

This list may be supplemented. Company employees will provide more accurate information.

The application must contain the data of the client and the insurance company, and details of the account to which funds need to be transferred. It sets out in detail the essence of the claim and the grounds for fulfilling the requirements. You can refer to the law on the protection of consumer rights, or more precisely to Article 16, paragraph 2 of this document. The client should indicate that the insurance service was imposed by the credit manager.

Insurance may be included in the package of services of the financial institution itself. In this case, the claim is addressed to the bank. The insurance premium is calculated in proportion to the unused period according to the validity period of the contract. The application is reviewed within 30 days. If the credit institution or insurers do not respond to the application, the consumer has the right to contact Rospotrebnadzor with a complaint against the service provider.

How to get your insurance back through court

Going to court is a last resort, which is resorted to when other measures have failed. The applicant must understand that the proceedings take more than one month and the decision is not always positive. If the bank provides for non-repayment of the insurance premium, you will have to challenge not only the service, but also the terms of the loan agreement.

You need to be prepared for the fact that the client will have to prove a violation of his rights. Since the agreement was signed by him with his own hand and voluntarily, it is necessary to confirm that there was a fact of deception; no alternative options were presented. The client's words alone are not enough. Witness testimony, audio and video recordings are accepted as evidence.

The statement of claim is sent to the arbitration court at the borrower’s place of residence. You must provide a package of documents including:

  • loan and insurance agreement (certified copies);
  • application for insurance refund;
  • response from the bank or company providing the service, if one was received;
  • certificate of early repayment of debt;

The statement of claim is accompanied by a calculation of the amount that the insurance company must pay. It makes sense to go to court if the amount to be returned is significant. Otherwise, it will be difficult to cover the costs of running the process.

Conclusion

To top it off, we remind you that before signing the contract you need to carefully study it. It is best to ask to print the document and read it with your lawyer. The manager is obliged to explain in detail all unclear and controversial points. It’s easier to spend a little time clarifying all the nuances so that disputes and claims do not arise after signing the papers. You need to understand that the insurance included in the loan amount is subject to the same conditions as the loan itself. Simply put, the bank will pay the money, and the client will have to pay the interest due.

On December 17, 2016, I entered into a consumer lending agreement No. 06038775280. The loan amount also included two insurances: “Insurance in case of job loss” and “Life and health insurance of the loan borrower” in the amount of about 11,000 rubles, without registration of which, according to the loan specialist, the loan may be refused, although refusal of insurance cannot be a reason for refusal to issue a loan, i.e. I was initially misled; I consider insurance to be an imposed service. As a matter of fact, the cost of insurance is almost 1/3 of the loan amount.

Regarding the “Life and Health Insurance of the Loan Borrower,” I was not familiar with the terms and conditions of this insurance.

On December 19, 2016, I went to the only office of Rusfinance Bank in St. Petersburg to terminate the insurance contracts, but there they informed me that they had not yet received the documents indicating that I had a loan, and they refused to terminate the insurance contracts and was asked to come later. They wrote down my phone number and promised to call as soon as the documents appeared in the database.

On December 20, 2016, in the evening, a bank employee called and said that the documents had arrived and I could drive up.

On December 21, 2016, I again went to the bank office, where a statement was written to terminate the “Job Loss Insurance” contract with a full refund of the insurance premium to repay the loan within 10 days. I was refused to terminate the contract “Life and Health Insurance of the Borrower of the Loan”; or rather, I was denied the return of the insurance premium, explaining that the agreement was “collective”, and according to the contract (which I was not familiar with in advance) the insurance premium was not refunded. It was proposed to write an application for termination of the contract and return of the insurance premium, for which the response period was up to 30 days, which was done.

According to the “Rules for Personal Insurance of the Loan Borrower”, posted on the website of the insurance company SOCIETE GENERAL Life Insurance LLC, in accordance with clause 7.4.7 “The Insurance Agreement is terminated if the Policyholder refuses the Insurance Agreement during the Free Period”, and in accordance with clause 7.5 .4 "in the event of early termination of the Insurance Agreement for the reasons specified in clause 7.4.7 of these Insurance Rules, the Insurer shall return to the Policyholder 100% of the paid insurance premium."
There is also Directive of the Bank of Russia dated November 20, 2015 No. 3854-U “On the minimum (standard) requirements for the conditions and procedure for the implementation of certain types of voluntary insurance”, according to which “When implementing voluntary insurance, the insurer must provide for the condition of returning the paid insurance premium to the policyholder in the manner established by this Directive, in the event of the policyholder’s refusal from the voluntary insurance contract within five working days from the date of its conclusion, regardless of the moment of payment of the insurance premium, in the absence of events in this period that have signs of an insured event." "When carrying out voluntary insurance, the insurer must provide that if the policyholder refuses the voluntary insurance contract on time and before the date of occurrence of the insurer's obligations under the concluded insurance contract (hereinafter referred to as the insurance commencement date), the paid insurance premium must be returned by the insurer to the policyholder in full " No credit or insurance terms may be more stringent than specified.

Overall: I am waiting for a response to my application. In case of violation of the deadlines for responding to the application, as well as in the case of a written refusal to terminate the contract and return the insurance premium, complaints will be written to the regional division of the Central Bank and Rospotrebnadzor.

For now I give a rating of "2" for all of the above, as well as for the inconvenient location of the office for me (the only one in St. Petersburg), which I had to visit twice already in 5 days of using the loan.

Like other financial institutions, Rusfinancebank offers credit clients contracts for various types of insurance. At the same time, bank employees often talk about insurance as mandatory to obtain a loan, although this is not true. In particular, after payment the insurance premium can in some cases be returned. Let's look at how you can get your loan insurance back from Rusfinancebank.

What loans from Rusfinancebank provide insurance (mandatory and voluntary)

The bank offers the following types of loans:

  • cash loans;
  • consumer loans (for the purchase of goods);
  • credit cards;
  • mortgage.

Insurance at the institution is divided into two types:

  • voluntary;
  • mandatory.

The category of mandatory insurance includes insurance of the collateral - property purchased on credit. That is, it is mandatory to insure the purchased property, which is subject to a collateral encumbrance for the entire period of the loan.

This condition applies to:

  • mortgage loan;
  • car loan (the condition for purchasing CASCO insurance also applies to it).

Among the optional ones, the client has the right to voluntarily register:

  • health and life insurance;
  • protection against job loss;
  • For mortgages, there is an additional insurance program against loss of title to real estate.

Rusfinance Bank works with various insurance companies and acts as their agent when concluding contracts. Among them are AlfaStrakhovanie, Ingosstrakh-Life, Societe Generale Insurance of Life, Rosgosstrakh, ZettaStrakhovanie, MAX, Rosgosstrakh, SOGAZ, AlfaStrakhovanie and other large companies.

Insurance return options

You can return insurance for the following types:

  • “Life and Health” program;
  • protection against job loss.

Repayment conditions for consumer loans and other types differ depending on the insurance company. For example, for Societe Generale Life Insurance, within the framework of cooperation with which the client can enter into an appropriate agreement, the following standard conditions are provided:

  • if the borrower repaid the debt to the bank ahead of schedule (partially or in full), but did not submit an application for repayment , then it is not produced;
  • if the loan insurance agreement is terminated by agreement of the parties, the amount of contributions that has already been actually paid by the borrower is returned;
  • if the client refuses insurance during the Free Period, the entire amount paid is returned;
  • if the refusal was received after this time, a portion of the funds is returned, proportional to the remainder of the period of validity of the insurance contract.

An excerpt from the Company Rules is shown in the figure.

The agreement may provide for additional conditions, so you must read it very carefully. In particular, it provides a Free Period - the time when the policyholder, after receiving a loan, has the right to cancel the contract with a refund of the full amount.

Today, in accordance with the law, a citizen has the right to issue a refusal within 5 working days (but only if an insured event has not occurred during this time).

The conditions of other insurance companies are generally similar to those given, although the details of the insurance rules and clauses of the contracts may differ.

Return procedure

In order to return funds for imposed insurance, you must fill out an application and submit it to the office of the insurance company. By following the link you can download a sample application for refusal of life insurance from Societe Generale. Applications for other types of optional insurance are filled out in a similar way. The paper along with a package of documents is submitted to the office of the insurance company.

Samples of refusal papers for other insurance companies can be obtained by reading the list of documents on their websites, calling their contact numbers or contacting the office. A complete list of partner organizations is provided on the bank’s official website.

Required documents

To return you will need:

  • application for refusal;
  • confirmation of payment for the insurance premium (check, order, etc.);
  • copy of the client's passport;
  • You may also need a loan agreement and a certificate of debt repayment.

They can be presented in person at the office, or sent by registered mail with an inventory. It is advisable to make a personal visit, as this will significantly speed up the receipt of money and increase the refund amount. By law, insurance terminates from the moment the insurer receives the application. Next, the funds should arrive in the account no more than 10 business days later.

Consequences of failure

Refusal of optional insurance should not incur any consequences or penalties for a citizen. But you need to remember that an insurance contract under the “life and health” program or “protection against job loss” can help in the event of force majeure circumstances when the borrower, being in a cramped position, loses the ability to regularly pay the bank. In this case, with an active contract, these obligations will be assumed by the insurance company.