Mortgage insurance

At the purchase of apartment in a mortgage, a bank obligates a borrower also to conclude a treaty of mortgage insurance with some insurance company. Formally, you are free to choose insurance organization coming from the preferences, but in practice, a bank is given at choice by a list from a few insurance companies with that to the bank more comfortable to cooperate.

For the conclusion of treaty of mortgage insurance, it is required to present documents the list of that is formed by a bank and insurance company. In addition, evaluation examination of the again acquired property is conducted without fail. On the special requirements of bank and insurance company medical examination of the state of health of borrower and third persons(guarantors) can be required.

Complex mortgage insurance, as a rule, consists of three insurance foods, namely:

it is Insurance of ability to work and life of borrower. Insurance indemnification is paid in cases to disability(both temporal and permanent), disability, death of borrower. In case of disability of 1-2 groups or death, an insurer undertakes responsibility on payment of mortgage loan
it is property Insurance from destruction and death. By accidents insured on this policy the damages of the real estate will be considered from a fire, flood, other negative natural factors.

Also insurance indemnification will be paid in case of actions of another persons entailing the complete, or partial damages of your accommodation.

- Taking into account prevalence of different knavish charts, there is yet and the title insurance sent to defence of property interests. Forfeiting of property confesses an accident insured right on an accommodation as a result of illegal actions of salesman or person building