The main conditions of the insurance contract:
- Insurance contracts entered into with physical persons is the sole borrower under the Loan Agreement.
- Insurance period determined in accordance with the term of the loan agreement;
- The age of insured Persons – from 18 to 60 years old, and the maximum age at the date of expiry of insurance contract 65 years;
- The sum of insured to be set out in equivalence to the sum of credit. The sum insured to be reduced simultaneously with the current loan of assured in amount of the credit and interests paid back by the Assured;
- The insurance premium may be paid upfront or on yearly basis;
- The sum of insured to be paid to the credit institute in a case of death or disability of insured person (the first group of disability);
- If the loan to be paid before the time scheduled the Insurer refunds the sum of unearned insurance premium (premium for unearned period) by subtracting the eхpenses for conducting a case.