Those who close their loan debt can get back a portion of the insurance they paid for.
According to Milli.Az, if life insurance was applied when the loan was formalized or an insurance contract was added to the loan documents and signed, it is possible to get back a portion of that insurance amount after the debt is fully paid.
In this case, 20 percent of the amount paid for insurance is kept as a commission, and the remaining 80 percent is returned to the customer.
For this, the citizen should apply to the branch where they took out the loan and obtain an application from the branch manager, then go to the insurance company and write an application there as well. This way, it is possible to get back 80% of the amount paid.