What is financial protection? Loan financial protection program
Hello, friends!
Well, admit it, many have already fallen into this trap and agreed to issue a Certificate or Service Package "Financial Protection" along with the loan? Are there any of my readers? Although, let me guess, if you came to my site through this article, then this question is relevant for you. Well, I hope you found out the trick in time, and you still have time to get your money back. Let's start soon.
Certificate of financial protection in addition to the loan. What is this about?
Let's remember the familiar life, health and job loss insurance. Without exception, banks sold these additional services to borrowers. But why did they screw up? They are still pushing, but if earlier borrowers had to return their money for insurance through the courts, now borrowers have tools to deal with such additional services.
I have a whole section on my blog dedicated to the struggle of borrowers with imposed insurances. You can . At first, insurance was outlawed, then, somehow imperceptibly, the courts went over to the side of banks and insurance companies, and then the borrowers found themselves in a losing situation. In general, the struggle went on for a long time, and my colleagues and I invented different ways to challenge the imposed insurances. Sometimes we were able to return the money to the borrower, sometimes not. In the end, the situation changed so much that the imposition of insurance was elevated to the law and it became a common thing for everyone. Even litigation on this subject somehow dried up, since the courts no longer made positive decisions in such cases.
But you can't piss people off. The legislator assessed the alignment of forces and backtracked. Thus, a cooling period appeared, during which the borrower could refuse the signed insurance contract and return all the money paid as an insurance premium. At first, such a cooling period was 5 days from the date of conclusion of the insurance contract, later it was increased to 14 days. Of course, it did not become a panacea, many borrowers still miss this deadline for various reasons. But, the majority, at least those who delve into this issue, manage to terminate the insurance contract and return the money for this insurance.
What has the increased legal literacy of borrowers led to? To the fact that banks and Insurance companies began to lose the profit that they had on additional services. And a bank, you see, is a structure that should earn money. Money and profit is the only meaning of the bank's life. Therefore, the best financial minds of mankind are constantly developing new schemes for legally taking money from the population.
This is how the Financial Protection Program was born. I talk about it using the example of a particular bank, so in different banks the name of this product may vary.
We dissect financial protection - everything is not as scary as it seemed
What is this “Financial Protection” is not difficult to guess. And, I would not deal with this issue, because everything is already obvious, if not for my clients. AT recent times People often began to contact me with stories when, together with a loan, instead of the usual insurance or connecting to an insurance program, they began to slip this very “Financial Protection” into them. And people fell into a stupor, they were faced with something new, and they simply had no understanding of how to relate to this.
But, everything turned out to be easier than you think. The "Financial Protection" program is the same life and health insurance for borrowers as you are used to applying for an insurance contract or for joining a borrower to a collective insurance program.
Financial protection is just insurance. This means that it is subject to a cooling period, which today is 14 days from the date of signing the insurance contract or application or any other document that triggers the insurance against the borrower.
And, since this is ordinary insurance, it means that you can easily return the money that the bank wrote off for it. It could be insurance premium or commission, no matter what it's called. The main thing is that you paid for life and health insurance.
- carefully read the conditions of insurance or "Financial Protection", they must contain the conditions for refusing this service and the deadline for submitting an application;
- if you did not find the information in your documents, go to the website of the bank that issued you the loan and read the insurance (or Financial Protection) rules there. Such rules must be on the website of each bank, but sometimes they are not easy to find. Try, I believe in you;
- perhaps on the bank's website you will find a sample application approved by the bank, then fill it out;
- It is important to submit the application within a period not exceeding 14 days;
- if we are talking specifically about "Financial Protection", when the insurance company does not participate in the issuance of this certificate or policy, and when the recipient Money- commissions for connecting to this program, the bank acts, then such an application should be addressed to the bank.
Application for waiver of loan insurance - sample
This is a sample application. As I wrote above, if the bank has its own application template, you need to fill it out.
The application (whether it is yours or according to the model of the bank) must be attached to the application:
- a copy of the insurance contract or application for participation in the Financial Protection program or any other document that indicates this service;
- a copy of the receipt for payment for this service (it may also have different kind but you should have it).
Name of the bank _________
from _______________________________
Passport __________________________
The address: ___________________________
Telephone: _________________________
Application for cancellation of an insurance contract
Option 1:
I, ___FULL NAME___, am an insured under the insurance contract No. _________ dated _____________.
Option 2:
G. I, ___FULL NAME___, was connected to the Financial Protection Service Package, which is life and health insurance for the borrower.
I ask you to terminate the specified insurance contract and exclude me from the Financial Protection Service Package program, as well as refund the commission (insurance premium) paid by me using the following details:
Your account details
I confirm that from the date of conclusion of the insurance contract (Service Package "Financial Protection"), insured events, as well as events that have signs insured event, did not come, insurance payments in my favor were not made.
I would like to draw your attention to the fact that Bank of Russia Ordinance No. 3854-U dated November 20, 2015 “On the minimum (standard) requirements for the conditions and procedure for certain types voluntary insurance(as amended on June 1, 2016, August 21, 2017)" does not provide for the possibility for the insurer to establish additional requirements for the list of annexes (documents) to a written application for cancellation of a voluntary insurance contract.
Applications:
1. A copy of the insurance contract (or the Service Package "Financial Protection");
2. A copy of the document confirming the payment of the commission (or insurance premium);
3.Copy of passport
D. _________ signature __________ _____ full name _______
Don't worry about copying text, it's better to download this ready-made sample.
We've got this simple statement. If you did not find the application form on the bank's website, take this one, fill it out, attach all the documents according to the application list and hand over all this stuff to the bank.
If somewhere in your documents you find the name of an insurance company that provides insurance services under the Financial Protection Service Package program, then make the same application with the same application for the insurance company. It is necessary.
That's all for today, carefully read the contracts that you sign and learn to make informed decisions even in such stressful situations.
Any client who applied to the bank has the opportunity to refuse financial protection when obtaining a loan. So in article 927 of the Civil Code of Russia it is said that only the President, the Government and the Federal Assembly are given the right to determine which types of insurance are classified as mandatory. The bank does not have the right to arbitrarily require the client to purchase a particular policy, calling it a prerequisite for approving the application.
In fact, this is a type of insurance offered by banking organizations to customers. Recently, the familiar word "insurance" has not been used in order to create a positive image of the service among potential borrower. You can agree to connect the option directly during the application process, additional documents no need to provide.
Protection is offered for the following reasons:
- this is a guarantee for a financial and credit institution that in the event of force majeure circumstances such as the debtor's illness or death, the loan will still be repaid. The insurance company will deal with the issues of payment;
- additional profit for the bank. Contracts are concluded with insurers, after which the bank begins to refer customers to a verified company. Partnership is mutually beneficial for all;
- the interest rate initially includes possible losses of the bank, even if the client is at first glance trustworthy. The bank regards refusal of insurance as an additional threat. They will not cooperate with such a client or they will offer him a program with an increased rate.
Such financial protection when obtaining a loan brings more benefits to the bank than to the borrower. Although in the event of an insured event, it will be much easier for the client - the insurer will deal with the payment of principal and interest.
Is the program beneficial to the individual?
Insurance has some positive aspects:
- upon the onset insurance risk the client does not need to pay off the body of the debt and interest on the loan. The insurance company will do it for him;
- borrowers who agree to connect the service are often offered more profitable programs with a reduced interest rate.
A significant disadvantage of insurance is its high cost. On average, 10-40% of the final value of the loan is taken away by payment for the services of an insurance company. The amounts are added to the mandatory monthly payments, which increases the burden on the borrower's budget.
Such an offer is especially unprofitable for people who want to get a loan for a short period, because the possibility of an insured event is minimal. As a result, each client is recommended to familiarize himself with the algorithm of actions in case of refusal of the service. This will allow you to quickly and without unnecessary nerves to compensate for part of the money paid under the contract.
How to act as a client to get a refund with minimal effort
- preparatory work, in which the debtor reads the loan agreement and financial protection. If it is problematic to figure it out on your own, it makes sense to contact a lawyer. The document must describe the provisions for refusing the service and the deadline for submitting the application;
- if the contract useful information no, visit the bank's website or contact the office directly. Some banks place an approved application form directly on the site, which is enough to print and fill out;
- the document is transferred to the creditor or sent immediately to the office of a third party, whose role in the transaction is performed by the insurer.
If the borrower did not give oral consent and did not sign any documents, and then suddenly discovered that the insurance was still connected, you should send a written application to the bank. To speed up the process, the document is drawn up in duplicate. One is transferred to the bank, on the second the employee affixes the date, signature and acceptance mark - this copy is kept by the applicant.
In case of refusal, it is advisable to apply to the court with a statement of claim to protect your rights. It will not be superfluous to involve an experienced lawyer specializing in resolving issues with insurance companies. If, following the results of the check, it refuses that the refusal is unlawful, the specialist will help draw up a claim and prepare a lawsuit, as well as protect the interests of the client in court. More often, already at this stage, banks prefer to resolve the issue peacefully, satisfying the requirements of the citizen.
The full insurance amount is returned to the borrower if he managed to apply to the insurance or bank within 14 days, during the so-called "cooling off period". The amount is paid in full, but it cannot be received in cash. In the text of the application, the client prescribes the details of a bank account issued in his name. The transfer will be received on average within 5 days.
Those customers who decide to repay the loan debt ahead of schedule can also count on a refund of a part of the amount paid for an actually unused service.
What is fraught with refusal to connect the insurance option
If the borrower is not interested in participating in the program, he has every reason not to make concessions. This issue is unequivocally treated in the law "On Protection of Consumer Rights", according to which no one banking organization not entitled to force the client to conclude voluntary agreement insurance.
In practice, banks are cunning, setting in this case an increased interest rate under the contract or completely rejecting the application without explaining the reasons. Refusal of financial protection significantly increases the risk of not getting a loan at all.
To take advantage of the offer without insurance, the borrower should:
- when filling out the questionnaire, carefully study the conditions of the chosen program;
- listen to the consultant and refer to the desire to make a decision later - this will protect against refusal to issue a loan;
- after obtaining preliminary approval at the stage of concluding a loan agreement, inform that additional options are not required. Stick to your point of view calmly, with a clear imposition of a service, record a conversation with a manager on a dictaphone, and then apply with a record to the Central Bank of Russia and Rospotrebnadzor.
Financial protection is the usual insurance, the refusal of which is possible. However, after the conclusion of the contract, it is more difficult to do this. It is required to meet the deadline of 14-30 days, depending on the policy of the bank, which will allow you to fully return the already paid insurance premiums. Failure to meet the deadlines is fraught with the loss of part of the funds.
Cancellation is not possible for:
- Property insurance programs when it is pledged. Applies to movable objects and when mortgage lending on the basis of article 935 of the Civil Code and article 31 of the law "On Mortgage";
- OSAGO policy, mandatory for borrowers receiving a car loan.
Thus, financial protection is not a prerequisite for the approval of the application. The bank employee is simply trying to fulfill the plan for selling additional services - insurance policies. You can cancel the service before signing the loan agreement or after a cooling period of 14 days. In this case, the applicant receives reimbursement of insurance premiums in full.
If you have any questions, you can ask them free of charge to the lawyers of the company in the form below. The answer of a competent specialist will help you make the right decision.
Sberbank borrowers often complain that life insurance is imposed on them when applying for a loan. Is it possible to refuse financial protection at the stage of signing documents and when it has already been purchased? What is required from a client who decides to return the money? In our article we will try to answer these questions.
The life insurance of the borrower is beneficial to the bank, because in an unforeseen case, the loan will be paid by the insurance company. Does the client need financial protection? If you take on a significant amount of debt (such as a mortgage or car loan), an insurance policy will protect your family from paying off an unsustainable debt if something happens to you. It makes no sense to make insurance for small loans.
Is this service required or not? If you are offered life insurance, you have every right to refuse. The bank can influence your decision by raising the interest rate in case of refusal of insurance, but you cannot force you to purchase a policy. If the cost of a loan rises by more than 1%, it may even be profitable to take out a policy, because then the overpayment of interest will be much less. There is obligatory types insurance you can't refuse:
- Mortgage property insurance.
- CASCO for some types of car loans.
Important! Financial protection of life and health for all types of loans is issued only voluntarily.
When signing documents at the bank, be sure to check with the credit manager all the controversial issues. If you decide to buy a policy, carefully read its contents. The fact is that insurance contracts have many clauses when insurance payment is not approved. For example, it may not include accidents that occurred while intoxicated or as a result of extreme sports.
Rejecting an insurance offer
The easiest way not to overpay for insurance is to refuse it even when applying for a loan. In Sberbank, as in any credit institution, employees have plans for the sale of financial protection. Naturally, you will be offered this service at every opportunity.
If you succumb to beliefs and buy a policy, it will be more difficult to refuse it. In order not to face the persuasion of the credit manager, apply through Personal Area on the bank's website. Here you can independently check the box next to the insurance column or uncheck it.
If you refuse insurance, the interest rate on the loan is likely to be increased.
Is it possible to cancel the insurance policy after receiving a loan from Sberbank and under what conditions?
- Within 2 weeks after applying for a loan (during the cooling period), you can contact the bank or insurance company with an application to cancel the policy. In this case, you are required to return the full amount.
- At early repayment loan, you can return part of the cost of insurance for the time when it was not actually used.
- 15 days after the insurance policy is issued, you may be refunded part of the amount if such an item is specified in the terms of the contract.
In some cases, it will be wise to contact a lawyer who specializes in resolving issues with banks and insurance companies. If the insurance company's refusal to return the money is unlawful, he will help draw up a claim. The next step is to submit statement of claim and consideration of the case against the insurer in court. As a rule, it does not come to this, and the insurance company returns the cost of the policy in accordance with the norms of the law.
If the credit manager is persistent
What to do if insurance is also imposed on you when drawing up a loan agreement? It must be understood that the refusal to financially protect life and health is yours. legal right. Sberbank cannot impose the purchase of this service under any circumstances.
If you do not want to issue a loan without a policy, threaten bank employees with an appeal to Rospotrebnadzor and the Central Bank of the Russian Federation. The imposition of additional services is a serious violation, for this credit organization may even lose their license. Therefore, as a rule, this complaint does not reach, it is enough to contact the management of the branch or call the bank's hotline. How to return the cost of the policy after applying for a loan?
- Within 14 days, write an application for a refund at the office of the bank or insurance company. Attach copies of your passport, loan agreement and payment receipt to it.
- After 5 days, you should credit the funds to the current account indicated in the text of the application.
If you decide to return the money for the policy after its purchase, you should refer to the instruction of the Central Bank of the Russian Federation on the cooling period, when the amount is returned in full. The insurance company is not entitled to refuse, so you should start by filing an application, and then write a claim. In the absence of a result, you can apply to the judicial authorities.
Before deciding to receive consumer loans you need to find out from a well-known retail lender how to opt out of financial protection in Home Credit Bank (HCB). We will tell you about ways to disable special banking service, significantly increasing the total cost of loans.
What is financial protection
HKB insures loans against non-payment by offering clients to take out voluntary personal and property insurance policies.
However, in addition to insurance programs, the bank has a voluntary payable service"Financial Protection". When it is connected, borrowers whose solvency has deteriorated can be provided with benefits for the repayment of monthly installments.
Today there are two groups of programs - for cash loans and the purchase of goods on credit from the partners of the bank "M.video" and "Eldorado". With conventional insurance, insurance companies compensate the bank for damages. Financial protection provides customers with the opportunity to fulfill their loan obligations in case of financial difficulties.
What is credit insurance for?
Within each group, two programs have been developed - standard and "Light".
According to their terms, the bank:
- May extend the loan repayment period. At the same time, monthly payments are reduced. The service is provided once, the minimum allowable payment amount is 500 rubles.
- It is allowed to skip 1 payment annually for cash loans and 2 for purchases from partners.
- Provided credit holidays for up to 6 months due to illness or job loss. Under the programs "Light" this benefit is not provided.
- After missed payments interest rates obligations do not change. The bank draws up new repayment schedules with the inclusion of interest for the missed time as part of the monthly installments.
- Operations 1-3 are allowed to be provided after remote customer requests through the call center or the My Credit online service.
- The client or his representative can submit to the HKB subdivision (office, administrative center) an application for waiver of collection. It is necessary to provide documents confirming the disability and other events provided for bank agreement. Before decision Home Credit does not accrue penalties, and the collection department does not send claims for debt repayment.
To pay for the connection, the bank offers two methods - a one-time payment at the expense of borrowed funds and a monthly payment at the expense of its own.
When buying from partners, only the first payment option is possible. The second option is used if loan agreement does not include voluntary insurance.
The cost of the service depends on the parameters of borrowed funds - the amount and number of monthly payments. If the commission is paid in credit money, calculation coefficients are applied, decreasing with increasing amounts. We will calculate the fee for the program (in rubles) according to the tariffs given on the HKB website, if cash loan RUB 330,000 issued for 3 years:
- The cost of financial protection through a loan is 60,588. After paying it, the client will have 269,412. Under the Light program, the commission for connecting the program is lower - 51,084.
- The monthly commission from own funds will be:
- for general conditions - 1 799;
- for "Light" - 1 549.
When can I return insurance to Home Credit?
The banking program is connected only with the consent of the client when submitting an application or before drawing up loan documents. You can disable it if the conditions specified in the contract for the provision of services are met. Let's find out how to turn off financial protection in Home Credit.
How to opt out of financial protection at the stage of filling out the questionnaire
Loan applications (questionnaires) can be submitted at banking departments, by phone, through the website homecredit.ru. You must specify the parameters of borrowed funds, personal information, passport data, average monthly income, allow the use of personal data.
To give consent to receive the "Financial Protection" service, you need to put a mark in a special box of the questionnaire. The applicant refuses to connect the program if he does not put a mark.
When making an application through the call center, you can also refuse the service.
The borrower is informed about the preliminary approval of the questionnaire on the same day, often within 15 minutes. Existing clients can receive borrowed funds without visiting bank offices. To do this, they need to apply by phone, and after prior approval, apply for loans through the Internet service.
For new borrowers, loan documentation is prepared in person. Clients must come to HKB units with passports and documents confirming income for 3 months. Loan officers will provide bank rates, consult. To make a decision on connecting an additional service, the client may ask to calculate its cost, since managers often impose paid programs.
You can later activate the service by phone, then the commission will be paid along with the payment of principal and interest.
How to turn off protection immediately after receiving a loan
The homecredit.ru website page with a description of the service contains information on how to cancel Home Credit insurance and return the commission. Cancellation of the program is possible if the client has not used any of the program's operations.
If the borrower paid the commission with credit money, he needs to submit an application at the HKB division.
The application can be written according to the bank sample or in any form. If the client canceled the program within fourteen days after joining, the commission will be partially returned to him. The amount will be withheld for the use of the program before the date of application. The borrower will be paid the entire amount upon registration of the refusal of the service on the day of its connection.
When paying for the program with your own money, it is allowed to refuse the service by phone. The date of the application is fixed by recording the conversation with the operator.
Return of insurance in case of early repayment of the loan
You can pay the obligations ahead of schedule in full after submitting an application through the Home Credit division. At the same time, you can refuse financial protection and ask for the payment of a part of the commission from the date of the planned repayment of obligations. It is possible to return part of the money also within three years after full early repayment.
The bank returns the money depending on the payment methods:
- If borrowed funds were provided together with a commission, it is returned in proportion to the time from the moment of full early payment obligations until their expiry date specified in the loan documents.
- If the commission is paid monthly, it is returned in proportion to the time from the maturity date to the end of the current interest period.
How to cancel insurance after the expiration date
Since April 25 this year, the terms of financial protection agreements have changed. Previously, the borrower was not returned the commission if his application was received after the 14-day period after the service was activated. Exceptions were allowed only for full early repayment of loans.
Under the terms of the new contracts, you can partially return the commission before the end of the program at any time.
If the borrower refused protection 15 or more days after connection, the bank will return the money to him according to a special calculation. The amount proportional to the time from the date of registration of the application to the end of the loan agreement is multiplied by a reduction factor of 0.75.
Deactivate the service, paid monthly own funds, you can with the help of a call center employee. For example, customers take advantage of options to transfer payments while on vacation, after which they refuse protection by phone.
What documents are needed for the return
Cancellation of the program with a request for a refund is best submitted on the Home Credit Bank letterhead. When applying in person, you must present a general passport. A customer representative can apply for a refund. He must provide his passport and a power of attorney certified by a notary.
If you get rejected, what do you do next?
The credit institution considers applications within ten banking days, which are counted from the date of receipt. Borrowers are informed of their decision by contact numbers. Banking specialists justify the negative results by a violation of contractual terms.
If the client believes that the program was imposed and credit managers did not explain its essence, he can go to court. A positive decision is possible if evidence is provided in favor of the plaintiff.
We found out how to return the loan insurance at Home Credit Bank, if it was issued under the financial protection program. Before connecting additional services, study their conditions and tariffs. If the program is unprofitable for you, you can partially return the commission during the term of the loan agreement and in case of early repayment of obligations.
On February 14, 2019, I applied to the KB "Renaissance Credit" in order to take consumer credit. When signing the documents, it turned out that despite my requests not to connect additional services, the manager included in the amounts the loan has a fee for connection to the "SMS-notification" service worth 1800.00 rubles, a fee for three Financial Assistant packages worth 5900.00 each, as well as a fee for Financial Protection worth 24909.00 rubles. Thus, the real amount of money I received was 15,500.00 rubles, and the loan amount was 199,709.00 rubles.
The loan officer assured me that without these services I would not be approved for a loan (which is, firstly, fiction, and secondly, she was obliged to inform me about this even before sending the application for consideration). I spent critically valuable time on obtaining a loan from this bank and the money was needed urgently. Thus, a loan agreement was concluded№ tel:74750551830
On February 18, 2019, I went to the bank branch where the loan was issued, with a request to disconnect from each additional service and refund money for them. Manager I-ko T. has accepted Financial Assistant waiver applications. Purchase Recognition Statement "SMS Alert" invalid, refused to accept, saying that a refund is not possible. I-ko T. refused to accept the application for waiver of Financial Protection, arguing that this issue is resolved only in Moscow and I need to send the application by registered mail myself, and there is no other solution. Her words and actions violate consumer rights law.
I sent a letter with a statement to the address: Moscow, st. Kozhevnicheskaya, 14 on the same day.
On February 25, 2019, by calling the hotline, I found out that the letter (should have arrived on February 22) had not yet been delivered, and the application had to be accepted at the bank. A client request was made №
28321830
On February 26, 2019, I again went to the same branch of the bank. Senior manager A-va T. insisted that the application could only be sent by mail and refused to accept it on the spot. I asked for a written waiver or any written confirmation that I applied to the bank on February 26th regarding the waiver of Financial Protection. And only after more than 2 hours of persuasion and disputes, after I called the hotline in front of a specialist, I received a copy of the client’s appeal №
28347502
No longer wanting to endure rudeness, rudeness, lies of bank managers, I turned to investigate this situation (demanding to recognize my purchase of SMS-notification and Financial Protection services as invalid on the basis of the laws passed and return the money paid to me in full) to the bank's website with appeal №
28365296
They wrote to me that the answer would be no later than March 4, today, March 6, I received an SMS that the answer would be March 13, and the first payment on March 14! And this is only for the appeal drawn up on February 26, but when on February 28? At a time when the deadlines are prescribed no later than 7 days. On the hotline the girl said the more you call, the longer you will wait! And no clear explanation.
I'm sorry that despite what I am regular customer bank, with good credit history, bank employees did not want to resolve this issue out of court. And I I will have to file a complaint with central bank Russia, the Investigative Committee and the Prosecutor's Office.
Having raised seven children, I understand how important it is to fight bureaucracy and the politics of corporate fraud in order to achieve justice. After all, my grandchildren will live in this society.