1, you don't need to buy insurance for the loan. 2. If the bank buys insurance, it is the bank that reduces the risk. 3. If the lender buys insurance, it is the lender who buys it to reduce the risk, so the bank will also reduce the risk. Obviously, if you lend money without insurance, the risk of the bank will increase. But the repayment responsibility belongs to the lender and has nothing to do with the bank. Therefore, it is ok to borrow money without buying insurance, but in order to avoid risks, you can buy insurance when risks occur to reduce losses.

What does it mean to buy insurance with a loan?

Buying insurance with a loan means that if you get a loan, you may not be able to pay it back. If not, he can go to the insurance company for compensation at this time.

Generally speaking, people engaged in high-risk jobs and the elderly will be required to buy such insurance. If this person dies unexpectedly, it will lead to the inability to pay off the bank loan. If you buy insurance, the loss of the bank will be reduced.

On the other hand, for the sake of insurance, banks will let lenders buy this kind of insurance to reduce losses and maximize benefits.

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Do you need to buy insurance for bank mortgage?

It is generally necessary to buy insurance, and it is obviously unreasonable that the insurer is not the biggest beneficiary of insurance.

Banks require lenders to apply for insurance according to the Measures for the Administration of Individual Housing Loans of the People's Bank of China. Article 25 of the Measures stipulates: "If real estate is used as collateral, the borrower shall go through the relevant insurance formalities at home insurance or entrust the lender to handle it before signing the contract. During the mortgage period, the insurance policy shall be kept by the lender. "

Because there are no detailed rules for the implementation of this clause, the bank has set many clauses on its own.

Judging from the current national regulations, there is no requirement for borrowers to purchase insurance when handling mortgages. However, in order to improve the security of loans, some banks often force borrowers to buy insurance.

Compulsory insurance is often a two-way insurance developed by life insurance companies. This kind of insurance will replace the borrower's repayment after the borrower loses the repayment ability. So this kind of mortgage insurance is still useful.

Solution:

1. Repeatedly consult the loan bank to try not to buy insurance;

2. Consult other local commercial banks and choose a bank that does not need to buy insurance for mortgage;

3. Report the overlord clause of the bank to the relevant departments, and strive not to buy insurance.

Generally speaking, mortgage loans are not compulsory to buy insurance. Compulsory insurance is a kind of "overlord clause"