Housing consumer credit insurance beneficiary is the lender

Moderator: Speaking of mortgage insurance, many people think that it is "bundling", the premium from the borrower commitment, it is the first beneficiaries of the banks. Recently, Guangzhou has finally lifting the mortgage insurance, buyers can independently choose whether to buy mortgage insurance. After all, but real estate is a big investment, many people feel that there is still better protection. In addition to mortgage insurance, I heard that there are now some of the varieties of consumer credit insurance, but also the first beneficiaries of loans themselves, I do not know whether it is worthwhile to buy »

The insurance and mortgage insurance different responsibilities

CAI Xiao can (national senior financial planners CFP): The current mortgage insurance is to prevent more natural disasters (such as flood, fire, etc.) caused damage to the housing insurance. Housing credit insurance to a broader range of some. A more complete housing consumer credit insurance are: housing mortgage guarantee insurance and property insurance, provide for a deductible in excess of the commitment by the insurance companies, to circumvent the loans were due to careless or improper use of property caused collateral damage and not the normal depreciation, excessive depreciation The risks.

Some varieties will be secured loans and life insurance products combined. Such as housing credit life and death insurance, if the loans were in the insurance period of incapacity or death, the insurance company took to pay debts, if the insurance expires after the insured is still healthy and can make use of the survival of insurance money paid to repay part of its arrears.

In addition, there are decreasing the amount of the credit insurance and life insurance joint mortgage protection insurance. The former insurance rates by reduction agreement, applicable to outstanding loans each year, gradually reduce the financial burden on the situation. The latter is when the couple to jointly purchase of residential revenue, which if one person was killed and the insurance company is responsible for the balance of outstanding loans, reducing another person to separate the burden of outstanding loans.

Hu Dongcheng (senior insurance people): Housing consumer credit insurance and mortgage insurance rates and insurance responsibilities are different. Mortgage insurance coverage of narrow, relatively low rates, insurance usually equivalent loan period, generally taken barges pay (one-time payment), if the provisions were included in the death, disability, the need to provide more proof .

Consumer credit insurance options relatively flexible, can take payment period, the rate is not necessarily. If consumer loans because of consumer life, health and the damage can not continue to loan repayments, insurance companies bear responsibility for repayment, or goods because of quality problems can not be used to repay consumers, insurance companies have to bear responsibility for repayment. The premiums and age, the greater the age, the higher the premium.

Prepayments may be proportional surrender

Hu Dongcheng (senior insurance people): Mortgage insurance is a basic one-time paid, if consumers in the six months to pay off the loan, according to the provisions of the insurance company will be in full surrender; the longer term, the less the amount refunded . And the surrender of consumer credit risk due to specific types vary, but because they can pay period, early surrender relatively small losses. The insured loans repaid ahead of schedule, the insurer will be prorated refund insurance premiums