Credit Life Insurance

• Insurance Type: Life insurance for individuals under credit agreements, covering the borrower against death and loss of work capacity.
• Insured Person: The physical person who borrows under a credit agreement and is insured against death and loss of work capacity.
• Beneficiary: The person entitled to receive the insurance payment according to the terms of the insurance contract (bank, credit institution).
• Insurance Premium: The premium is determined based on the insurance amount, the age of the insured person, and the insurance duration according to the established tariffs.
• Insurance Amount: The amount of insurance is reduced in accordance with the repayment schedule of the loan agreement (if the loan term exceeds the insurance term, the amount will be calculated according to the insurance period and the remaining loan balance for the given month).
• Insurance Payment Amount:

          • In case of the insured person's death for any reason — 100% of the insurance amount;

          • In case of disability, according to the terms specified in the contract. Other terms regarding the insurance payment amount may also apply as stated in the policy.