How much is PICC Golden Lock Property Insurance?

Mortgage insurance protects family and life.

Mortgage to buy a house, you must buy mortgage insurance, otherwise the bank will not lend, which is a common thing for property buyers. As for mortgage insurance, although buyers have doubts, they are still confused and unclear.

After the Spring Festival in 2005, the city will usher in a peak of buying houses. Since according to the requirements of banks and the government, as long as you buy a house by mortgage, you have to buy this mortgage insurance, then how should we understand the mortgage insurance, how to reduce the wrong expenses, and how to make the mortgage insurance play its role to the maximum extent ... are the problems that this article will help you solve.

Reporter Guan Chao/City Express

Question 1: Is the bank the first beneficiary of mortgage insurance?

Banks and the government require mortgage insurance: one is to ensure the most direct and effective recovery of loans, and the other is to ensure the safety of houses as collateral. Therefore, in the case of a large amount of compensation, the bank loan should be guaranteed to be repaid first. If the borrower has the ability to guarantee repayment after the accident, the bank may not enjoy compensation, but it must guarantee the priority of repayment.

Insurance companies provide insurance services for banks and policyholders and provide services according to the agreement between banks and policyholders. Insurance companies cannot designate beneficiaries. In the loan contract, the requirements of the bank as the first beneficiary can also be understood as contractual obligations. Therefore, before the loan is paid off, the mortgage insurance cannot change the beneficiary.

Question 2: Who is in charge of mortgage insurance?

At present, there are many property insurance companies in this city that provide personal mortgage loans for the aged with housing, such as PICC, Pacific and Taiping, but their terms, rates, handling fees and policy formats are not uniform at present.

According to the reporter's understanding, the amount of Tianjin mortgage insurance is calculated according to the provisions of the bank, generally according to the purchase price of the house or the loan principal plus interest, and individuals cannot determine it by themselves. The premium rate changes according to the loan term, but the insurance amount does not change with the loan term.

For example, Mr. Zhang bought a set of 320,000 commercial houses, and Mr. Zhang is going to apply for a personal mortgage loan of 250,000. According to the insured amount and loan term, the calculation method of mortgage insurance is as follows:

Paid off in 20 years, the insured amount is 250,000 yuan, and the mortgage insurance is 1 598.00 yuan.

Pay it off in 20 years, with the insured amount of 320,000 yuan and the mortgage insurance of 2,045.40 yuan.

* premium calculation formula: premium = insured amount ×0.04%× coefficient (15.98)

/kloc-paid off on 0/0, with the insured amount of 250,000 yuan, and the mortgage insurance of 897.00 yuan is required.

/kloc-paid off in 0/0, with the insured amount of 320,000 yuan, and the mortgage insurance is required 1 148.20 yuan.

* premium calculation formula: premium = insured amount ×0.04%× coefficient (8.97)

Note: In the above premium calculation formula, 0.04% is the rate for purchasing comprehensive insurance for personal mortgage housing of China People's Insurance Co., Ltd.

Professionals remind such as

If the insurance amount is calculated according to the loan principal plus interest of the house, the insurance company will compensate in proportion after an accident occurs during the insurance period.

Question 3: It is not cost-effective to repay the loan and surrender in advance.

As the central bank raised the loan interest rate, many people with repayment ability have chosen to repay the loan in advance recently. Knowing that they could surrender, they hurried through the surrender procedures. However, Cui Zhiyong, deputy general manager of the personal insurance marketing department of China PICC Tianjin Branch, told the reporter that if the insurer surrenders in advance, it will not only lose part of the handling fee; Once the house is in danger, it will eventually fall into a situation where the house and money are empty.

For example, because the central bank raised interest rates, Mr. Zhang decided to repay the loan in advance. After the loan is paid off, Mr. Zhang must consider how to preserve the value of commercial housing as his fixed assets. Experts pointed out that Mr. Zhang has two choices:

First, change the beneficiary of mortgage insurance and take mortgage insurance as family property insurance;

Second, buy property insurance to protect the house.

Take the insured amount of 250,000 10 year as an example. If you surrender three years in advance, you need to deduct the effective premium and refund premium of 6 18.65 yuan, and Mr. Zhang gets the real refund premium of 278.35 yuan.

If 10 pays off the insurance amount of 320,000 yuan and surrenders the insurance three years in advance, the effective premium and refund premium shall be deducted by 79 1.9 1 yuan, and Mr. Zhang will get the actual surrender premium of 356.29 yuan.

The refund formula for 10 years is the same as that for 20 years: refund premium = insured amount × 0.04 %× 2.93 × (1-5%).

For example, Mr. Zhang has taken out property insurance-Golden Lock Self-help Insurance, and the commercial house costs 320,000 yuan, with an annual premium of 192 yuan (premium = insured amount ×0.06%) and a three-year premium of 576 yuan. It is much higher than the 356.29 yuan obtained by surrendering three years in advance.

Professionals suggest from

It can be clearly seen that the rate of mortgage insurance is much lower than that of home property insurance. If you want to insure the house under your name, it is better to change the insurance beneficiary than to surrender the loan in advance.

Question 4: Now mortgage insurance can also save lives.

Last year, PICC P&C launched comprehensive insurance for personal loan mortgage housing on the basis of the original personal loan mortgage housing insurance. The main difference between the two clauses is that the comprehensive insurance of mortgage insurance is not only responsible for compensating the housing losses caused by natural disasters and accidents agreed in the clauses, but also responsible for the insurance company to compensate the borrower for the loans owed after accidental injury and death and high disability. The former is only responsible for the compensation for housing losses caused by natural disasters and accidents agreed in the clause.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.