Subject
For persons on age up to 18 years. The maturity of insurance will occur after completion of 18 years of age of the child.
Currency
BGN, USD and EUR
Covered risks and due collaterals
- Death of the insured person during the insurance validity term:
- if the insured person is less than 14 years of age – the amount of the paid till present premiums plus the accumulated additional profitability;
- if the insured person is over 14 years of age –the amount of the insurance plus the accumulated profitability as of the date of death;
- Durable loss of working capacity as a result of insured accident of the insured person over 30% - the insured person shall be released of further payment of premiums, as the full amount of the insurance premium shall be kept.
Coverage of additional risks – package “Accident”
- Package “Accident” shall be covered during the validity term of insurance;
- Each of the risks in “Package accident”can be included independently;
- Covered risks include – a temporary loss of working capacity, a hospital stay, expenses for medical goods and supplies.
Insurance term
From 5 to 18 years
Amount of insurance/monthly income
The amount of insurance shall be paid at the expiration of the validity term of insurance.
Income from investment/additional interest
- Payable at expiration of the insurance validity term, in case of redemption or death of the insured person;
- It shall be accrued by the end of each calendar year.
Tax concessions
No
Documents and application forms for conclusion of insurance agreement
- Application for conclusion of insurance "Life" and supported by health declaration:
Pursuant to tariff 40, the first page of the Application for conclusion of insurance "Life" shall be filled up by the contracting person, and the health declaration which is on the back of the page –shall be filled up by lawful representative of the child, as the data are personal for the insured child.
In all cases, the contracting person must submit report, issued by the general practitioner stating the medical status of the child. - Additional health declaration for the contracting person at the time of including of additional risk for release of installments in case of death of the Contracting person
Keep attention: in case this additional risk is not included, a health status information is not required for the contracting person, as well as the filling of the second application. - Financial questionnaire: only for policies over the cost of BGN 60 thousand or USD/EUR 30 thousand;
- Declaration for funds origin – over BGN 30,000 single premium or single pre-paid premiums;
- Insurance policy.
Prematurely termination of insurance agreement
- The contracting person has the right to prematurely terminate the insurance agreement, as he shall receive the redemption cost of the insurance, in case that the insurance has the right to be redeemed;
- The underwriter (Allianz Bulgaria Life) has the right to terminate the validity of agreement, according to the regulations of the general terms and conditions.
