Accident with a borrower
Under these Special Terms, insurance is contracted on the life of healthy individuals at the age of 18 to 69 completed years, who have received a bank loan and who would not be older than 70 as of the expiry date of the insurance.
The term of the insurance is from one to five years, depending on the term of the loan.
RISKS COVERED AND AMOUNT OF THE COMPENSATION
Upon death of the Insured or permanent loss of the ability to work above 75%, resulting from an accident which has occurred during the term of the insurance, the contracted insurance amount is paid to the beneficiaries – the Lender-bank and the other specified beneficiaries.
The insurance amount for which the insurance is contracted should be at least equal to the amount of the loan repayment remaining as of the time of the signing of the insurance, but in no case should it exceed the maximum amount determined by the Insurer.
The minimum insurance premium for one insurance is 5.00 BGN.