Individual PA Insurance for Borrowers    

Insurance subject

Private individuals aged between 16 and 69, who are about to get or have already got a bank credit; at the time of expiry of the insurance period, the age of the insured person should not exceed 70 years.

Insurance cover

The full insurance cover shall include the following risks:

  • In case of death the Insurer shall pay to the creditor bank the part of the credit not repaid, and the beneficiaries shall be paid the rest of the sum insured;
  • Upon request of the insured person, the following additional risks could be covered: permanent disability and temporary disability, resulting from an accident; upon occurrence of an insurance event the indemnities shall be paid off to the insured person.

Insurance term

The insurance term shall be agreed depending on the term of the credit contract and the requirements of the creditor bank.

Sum insured

The sum insured is equal to the amount of the granted credit.

Currency of the contract

The sum insured may be set also in the currency of the credit contract.