Life and health insurance for the borrower is not a mandatory type of insurance, but it increases the likelihood of the bank approving the deal.

If you refuse insurance, the bank increases the interest rate by 1% or more. The insurance guarantees the full payment of the mortgage funds to the bank in case of establishing the disability of groups 1 or 2, or the death of the insured person without burdening the heirs.

Mandatory types include construction (property) insurance.
The insurance policy is issued after obtaining the ownership of the apartment.

Independent real estate transaction

You can always contact the insurance department directly, without interacting with the reservation department and the mortgage center of TrendAgent

Application. You send us an application.

Consultation. We will contact you and clarify the information

Calculation. We will carry out the selection of the insurance program for your client.

Transaction. All the interactions with the insurance company will be taken over by us: document preparation, transportation of the insurance company representative to the place of transaction/registration of the policy facsimile.

Property/Reservation transaction

Consultation. We will contact you or your client, clarify the input data on the transaction.

Calculation. We will select the insurance program.

Transaction. All the interactions with the insurance company will be taken over by us: document preparation, transportation of the insurance company representative to the place of transaction/registration of the policy facsimile.

Due to the difference in average life expectancy between men and women, the insurance amount for the latter is significantly lower. As the age increases, the cost increases too, especially after 35 y.o. for men and after 40 y.o. for women.

Sex and Age

Third-party insurance with some banks

There are banks that promote the policies of their insurance companies, not giving the client the choice. In this case, the cost of the insurance policy usually reaches 1% of the loan amount.

Occupational risk

The cost of insurance increases for people risky jobs (even if we do not consider the jobs dangerous, the insurance company may see it differently).

With significantly increased or decreased BMI, the insurance percentage increases, as the likelihood of developing many diseases increases.

Body Mass Index (BMI)

This condition is often not disclosed to the bank when approving a mortgage, however, it is important to remember that there are several insurance companies willing to cover pregnant women. It is necessary to discuss such situations with your insurance specialist to find the most favorable solution for the client.

Pregnancy

In the case of a borrower having a diagnosed chronic illness, the cost of the insurance policy increases, as the insurance company’s risk of a claim occurrence grows. Usually, in this case, coordination and provision of medical reports/documents are required.

Chronic illnesses

Zhanna Rodina

FAQ