What does Payment Protection insurance cover?

  • Death as a result of illness or accident

  • Permanently reduced or lost work capacity over 70% as a result of illness and accident

  • Temporary incapacity for work as a result of illness or accident with a hospital stay of more than 3 days

Insurance features

The insurance was created by Cardiff Life Insurance – Bulgaria Branch specifically for sole traders, partners, shareholders, chairmen of cooperatives or freelancers who are clients of UniCredit Bulbank.


Subject of the insurance

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Payment of company credit instalments in the event of adverse events concerning the life, health and working capacity of the insured party.

Term

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The insurance is entered into for the duration of the credit agreement.

Insurance amount and price

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The insurance is offered at preferential prices.
The insurance amount depends on the credit product in relation to which the insurance is taken out.

Beneficiaries of this Insurance

For more information, visit the most convenient  branch of the bank for you.

Frequently asked questions

The insurance premium is payable monthly and is calculated as a percentage of the initial amount of the obligation for a credit with annuity or decreasing repayment instalments or as a percentage of the average monthly debt at the end of the previous month for credits with regular repayment instalments on principal. A tax of 2% shall be applied to the amount of the premium, charged in accordance with Art. 9 of the Insurance Premium Tax Act (IPTA).

The insurance may be terminated in the following cases:

  • From the moment the insured party reaches the age of 71
  • In the event of the death of the insured party
  • In the event of full early repayment of the credit
  • With one month's written notice from the insured party or the insurer
     

Upon the occurrence of an insured event, you can fill out a claim form and submit all required documents in one of the following ways:

  • By email: dbsejgcvmhbsjbAdbsejg/dpn
  • On paper by post with return receipt or by courier
  • To the following address: Sofia, 29A Hristo Belchev Str., ground floor
     

One or more natural persons, who are partners with ownership in the company, connected with a credit may be insured under Payment Protection Insurance.