Credit risk life insurance: Mortgage
Credit protection life insurance is programme that provides financial protection and support in case of an accident or a disease.
Upon occurrence of an insured accident the outstanding amount and the accrued interest of your mortgage loan will be fully covered by insurance company.
Select one of the credit protection life insurance programmes, offered by the insurance companies Cardif and MetLife Alico:
| Service feature | Cardif’s offer | MetLife Alico’s offer |
| Risks covered by Credit protection life insurance programmes | • Death due to an accident or a severe disease; • Total permanent working disability due to an accident or a severe disease. |
• Death due to an accident or a severe disease; • Total loss of working ability (1st disability group) due to an accident or a severe disease. |
| Insurance rate | 1,3% of outstanding loan | 1,34% of outstanding loan |
| Insurance benefit limit: | USD200 000 or the equivalent in UAH or EUR by exchange rate of National Bank of Ukraine at the day of insurance. | USD400 000 or the equivalent in UAH or EUR by exchange rate of National Bank of Ukraine at the day of insurance. |
| Maximum limit of the insurance payout | No limitations, the outstanding loan and the accrued interest are paid-out in their full amount. | 100% of outstanding debt, interest and penalties which are less or equal 15% of outstanding debt |
| Limitation of insured person’s age | The age limit is 20-59 years old. The insurance coverage is valid until the insured person turns 60 years old. | The age limit is from 18 to 64 years old. The insurance coverage according to the conditions of an Insurance Agreement is valid until the insured person turns 65 years old. |
| Required documents | Passport and ID code | Passport and ID code |
| Documents to fill in at the time of insuring | • Insurance application; • Statement of the health condition |
Application (including health statement) |
| Amount to be returned to the client in case of an insurance agreement termination by client’s initiative | part of unearned premium with retention of 40% of expenses | UAH 1 |
| The actions upon the insured accident occurrence | • To visit any UniCredit Bank branch where you will receive a list of documents required for registration and handling your case by the insurance company | • To visit any UniCredit Bank branch where you will receive a list of documents required for registration and handling your case by the insurance company. |
How to insure
To insure yourself by credit protection life insurance programme please visit any UniCredit Bank branch where you will receive a professional advice and information concerning insurance programmes.
At the branch you will be requested to fill in the application and other documents, when needed.
After signing of the insurance agreement the borrower is required to pay an annual insurance fee directly at the branch. From this day on your insurance policy is valid.
Insurance agreement is to be signed once for the whole term of the loan (or until the day when the borrower turns 60 or 65 years old), but its validity period equals 365 days starting from the date of payment of the annual insurance fee. You are advised to pay the annual insurance fees regularly for prolongation of your insurance policy.
This data is given for your information. The details of Insurance programmes are given in insurance agreements and their supplements as well as in the Insurance Rules.
Protect yourself and your family from troubles and rely on the experience of one of the leading life insurers and UniCredit Bank.
Looking forward to meeting you in the nearest branch!
