LOAN INSURANCE FOR MORTGAGE LOAN

 

With loan insurance you can take care of the repayment of your UniCredit mortgage loan, even if an unexpected event happens to you. Generali Biztosító will provide financial assistance for you so that your repayment obligation can be fulfilled without any problems in the event of long-term unemployment or the loss of your ability to work. You can get this for 6 percent of your monthly repayment i.e. for monthly installments of HUF 20,000, you can enjoy wide-ranging protection for only HUF 1,200 per month.

Within the framework of UniCredit ‘s loan insurance service, you can take care of the repayment of your UniCredit mortgage loan with Generali Biztosító’s life, accident, health and unemployment insurance connected to the loan, so in the event of disability due to illness or accident, you can avoid any inconvenient situation for your family.

 

 

In what situations can the loan insurance provide a solution and what services are included in it?

 

Loan insurance

In the event of death or disability which is at least 50% permanent disability due to accident or more than 79% permanent disability for any reason.


In this case, the insurer will pay the current debt outstanding at the date of the insurance event to the bank. The current debt means the sum of the non-overdue principal amount and the standard interest rate and handling fee charged for the period between the date of the insurance event and the due date of the installment that was due before the insurance event.


In the event of the loss of your ability to work1 and unemployment2: the insurer will pay an amount to the bank equalling the sum of the instalment(s) falling due during the period of continuous loss of the ability to work/unemployment and of the insurance service fees for a maximum of 6 months i.e. the insurer will pay the installments over this period. The insurer will not make payments for the first 60 days of the insured person’s inability to work/unemployment (retention).
If several insurance events take place during the period for which the insurer assumed the risk, the insurer will pay a service fee for a maximum of 24 months in the aggregate, by risk, to the bank as the beneficiary.


The document titled “Insurance terms and conditions for life, accident, health and unemployment insurance related to mortgage loans” (UC-JZH1) provides further information.

How much is the fee charged for the service and how is it paid?

  • The monthly insurance service fee for one insured person
    • if the full package is selected, 6 percent of the current installment;
    • if the basic package is selected, 3.5 percent of the current installment.
  • The insurance premium is due each month together with the loan repayment and so you can pay it conveniently from your UniCredit account, together with your monthly repayment.

Please read this overview of the two packages:

Insurance event Basic package Full package
Death
Minimum 50% permanent disability from an accident
More than 79% disability for any reason -
Inability to work (sick-pay) -
Unemployment -

What else should you know about insurance?

  • Who is insured?
    • The insured person is a natural person designated in the mortgage loan contract as the debtor, co-debtor, guarantor or mortgagor, and is aged between 18 and 65 when making the declaration as the insured person.
  • Who is the insurer?
    • Generali Biztosító Zrt. undertakes the obligation to assume risks and to provide insurance services (1066 Budapest, Teréz krt. 42-44.).
  • Reporting claims
    • The insurance event has to be reported within 15 days after its occurrence (within 75 days for claims related to unemployment and inability to work) either personally at the customer service offices of the insurer or in writing to the address 7602 Pécs Pf.:888 or by fax to 06-1-451-3857. The insurance service request form and the documents specified in the terms and conditions of the insurance have to be attached to the report of the insurance claim.
    • Please note that the insurer may become exempt from the service obligation in the cases specified in the terms and conditions of the insurance and certain events are excluded from the risk assumption (e.g. the consequences of an accident or illness that took place before the conclusion of the contract, or while under the influence of alcohol).
    • Should you have any comments regarding the insurance, the insurance event or claim reporting, please call the insurer’s TeleCenter Information Service on +36 1 325 3200 between 8.00 a.m. and 8 p.m. on weekdays.
    • Please note that the information provided here is not comprehensive. For further information, please read the terms and conditions of the insurance under Related materials.

 

 

Related materials

 

 

1 The loss of your ability to work for more than 60 consecutive days and obtaining entitlement to sick-pay.
2 Continuous unemployment for more than 60 days, which occurred no sooner than 3 months after the start date of the insured status.
3 Apart from the debtor, other parties to the loan transaction can only be insured if the debtor is also an insured party to the loan insurance, and the debtor approves the other party to the transaction becoming insured.

LOAN INSURANCE FOR PERSONAL LOAN


With loan insurance you can take care of the repayment of your UniCredit personal loan, even if an unexpected event happens to you. Generali Biztosító will provide financial assistance for you so that your repayment obligation can be fulfilled without any problems in the event of long-term unemployment or the loss of your ability to work. You can get this for 6 percent of your monthly repayment i.e. for monthly installments of HUF 20,000, you can enjoy wide-ranging protection for only HUF 1,200 per month.
Within the framework of UniCredit ‘s loan insurance service, you can take care of the repayment of your UniCredit mortgage loan with Generali Biztosító’s life, accident, health and unemployment insurance connected to the loan, so in the event of disability due to illness or accident, you can avoid any inconvenient situation for your family.


 

In what situations can the loan insurance provide a solution and what services are included in it?


Loan insurance

In the event of death or disability, which is more than 49% disability due to accident or illness.

In this case, the insurer will pay the current debt outstanding at the date of the insurance event to the bank. The current debt means the sum of the non-overdue principal amount and the standard interest rate and handling fee charged for the period between the date of the insurance event and the due date of the installment that was due before the insurance event.


In the event of the loss of your ability to work1 and unemployment2: the insurer will pay an amount to the bank equalling the sum of the instalment(s) falling due during the period of continuous loss of the ability to work/unemployment and of the insurance service fees for a maximum of 6 months i.e. the insurer will pay the installments over this period. The insurer will not make payments for the first 60 days of the insured person’s inability to work/unemployment (retention).
If several insurance events take place during the period for which the insurer assumed the risk, the insurer will pay a service fee for a maximum of 18 months to the bank as the beneficiary.

 

The document titled “Insurance terms and conditions for life, accident, health and unemployment insurance related to personal loans” (UC-SZK2) provides further information.

How much is the fee charged for the service and how is it paid?

 

The monthly insurance service fee is 6 percent of the current instalment. The insurance premium is due each month together with the loan repayment and so you can pay it conveniently from your UniCredit account, together with your monthly repayment.

 

 

What else should you know about insurance?

 

  • Who is insured?
    • The insured person is the debtor of the personal loan contract and is aged between 18-70 when making the declaration as the insured person.
  • Who is the insurer?
    • Generali Biztosító Zrt. undertakes the obligation to assume risks and to provide insurance services (1066 Budapest, Teréz krt. 42-44.).
  • Reporting claims
    • The insurance event has to be reported within 15 days after its occurrence (within 75 days for claims related to unemployment and inability to work) either personally at the customer service offices of the insurer or in writing to the address 7602 Pécs Pf.:888 or by fax to 06-1-451-3857. The insurance service request form and the documents specified in the terms and conditions of the insurance have to be attached to the report of the insurance claim.
    • Please note that the insurer may become exempt from the service obligation in the cases specified in the terms and conditions of the insurance and certain events are excluded from the risk assumption (e.g. the consequences of an accident or illness that took place before the conclusion of the contract, or while under the influence of alcohol).
    • Should you have any comments regarding the insurance, the insurance event or claim reporting, please call the insurer’s TeleCenter Information Service on +36 1 325 3200 between 8.00 a.m. and 8 p.m. on weekdays.
    • Please note that the information provided here is not comprehensive. For further information, please read the terms and conditions of the insurance under Related materials.

 

 

Related materials

 

 

1 The loss of your ability to work for more than 60 consecutive days and obtaining entitlement to sick-pay.
2 Continuous unemployment for more than 60 days, which occurred no sooner than 3 months after the start date of the insured status.

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UniCredit Bank Hungary Zrt.


Head Office: 1054 Budapest, Szabadság tér 5-6.
Post address: 1242 Budapest Pf. 386


Tel.: +36 (1/20/30/70) 325 3200
Fax: 06/1-353-4959



Bank code: 109
SWIFT: BACXHUHB
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