Insurance when purchasing credit funds is popular with credit institutions due to a decrease in the risks of non-repayment provided. If a person cannot fully pay a loan, duties fall on the insurance company. With the insured case, the cash is transferred to the credit institution in order to repay debt.
This situation is very beneficial to banks, but extremely unprofitable to customers.
It depends on what kind of insurance offers you a credit institution: mandatory or voluntary. As follows from the concepts, you can only refuse from voluntary insurance.
The rest of the insurance of life and health, or on the loss of work obligatory — are not.
The bank can introduce its sanctions if you do not agree to its terms. An example is the increase in the interest rate on the loan.
You can get rid of mandatory insurance in court. You will have to prove that according to the law, this type of insurance was not required and that the loan agreement does not respond to the conditions allowing to require insurance.
Refusal of mandatory insurance is impossible in law.
But if you imposed insurance, which is not obligatory, then you can safely contact the court for returning funds, but it is necessary to study the subtleties of this issue and have time for a deadline!
If you liked the material — subscribe and follow our news!