How to return insurance on a loan at Sovcombank: 3 reliable ways

Often, borrowers do not want to take out insurance at the time of obtaining a loan, because it is at least unprofitable, and at most stupid.

When receiving, for example, a client can significantly overpay, because the insurance that comes with the kit spoils everything - against its background, the annual rate increases.

If we talk about how to return insurance on a loan at Sovcombank, then this process is rather scrupulous, lengthy and has many nuances that should be taken into account.

Features of insurance

When applying for a cash loan or the borrower is informed that one of the mandatory requirements is that the client has insurance. If not, it is provided directly by the lender.

As for its cost, it is most often formulated on the basis of the loan amount and can reach 30% of the loan amount. You can pay it in two ways:

• in cash during the execution of the contract;
• throughout the entire period (the cost of insurance will be imposed on top of the loan amount).

According to experts, insurance is necessary, because in case of disability or injury, for example, an insurer company can pay off mortgage debt or consumer loans.

The borrower has the right to refuse additional banking services. And if it is almost impossible to do this before the conclusion of the contract, then after it it will be possible.

How to cancel insurance

The procedure for canceling insurance is not easy to implement, because few banks want to voluntarily give the borrower money that could be his.

Today, you can get money back for insurance in two ways - relatively peacefully and through the courts.

Return of insurance through government agencies

Citizens try to return insurance from a particular bank through the courts only after they failed to do this “peacefully”. It is worth noting that the judicial practice regarding this issue is quite rich, but this does not mean that the court will be unconditionally won by the borrower.

Before announcing the step-by-step instructions for the actions characteristic of the process of returning insurance through government agencies, it would not be superfluous to note several important aspects:

• a decision on a claim can be expected for more than one month, or even a whole year;
• much depends on the competence of a particular judge in this matter, his work experience and the human factor in principle;
• in 30%, the court makes a decision in which it does not see any wrongful actions on the part of a banking institution.

But even the above aspects may not prevent borrowers from realizing their plans and returning insurance, because they have an undeniable "protector" - the law "On Protection of Consumer Rights". Guided by this particular legislative act, a citizen must:

• file a complaint with the Russian Consumer Supervision (the complaint should describe in detail the essence of the problem);
• submit an application with a request for assistance to the local territorial organization for the protection of consumer rights (a copy of the agreement with the creditor must be attached to the application).

Before concluding an agreement with a bank, you should carefully read it so that you do not become a hostage to your own carelessness.

Early repayment of a loan

If the borrower manages to repay the loan ahead of time (within 30 working days), then in 2018 the bank undertakes to return 75% of the cost of insurance. Therefore, when signing the contract, you must carefully read it - otherwise, you can miss the following points:

• “The cost (amount) of insurance is not refundable under any conditions”;
• “The funds contributed to pay for insurance will be returned only if the borrower repays the loan ahead of schedule.”

Cancellation of insurance after receiving a loan

It is very difficult to get loans from SovcomBank without insurance, so its registration takes place in a “voluntary-compulsory mode”.

But this does not mean that the money cannot be returned.

So, the order of implementation of the plan can be divided into several conditional stages.

1. Visit the bank branch 30 days after receiving the money. Hand over to the individual employee a free-form application for the immediate return of insurance (that is, to refuse it):
   • if it was paid in cash, the money will be returned to the cash desk of Sovcombank;
   • if the cost of insurance is directly included in the loan, credit managers will recalculate.
2. If there is no answer for a long time or a letter of refusal has been received, it is necessary to write a claim that the employees of Sovcombank have noticed illegal actions in relation to the borrower (the term for considering such a complaint is no more than 10 working days).

Application for cancellation of insurance

If the client writes a few extra phrases and sentences in the application, this is not scary. The main thing is that the claim (or application) should include the following information about the citizen:

• Full Name;
• personal mobile phone number;
• series and number of the passport (taxpayer identification code);
• the reason why the borrower wants to terminate the contract ahead of schedule (describe all aspects in detail);
• date of application and signature.

It is necessary to carefully study the sample application for the return of insurance on a loan at Sovcombank before proceeding to the main case.