Risk life insurance tied to the KB mortgage loan – Examples
The risk life insurance Pyramida was particularly designed in order to secure clients´ loans of Modrá pyramida. This insurance is principally intended for all clients who are using any MPSS loan. However, it is possible to subscribe even without any relation to a loan from Modrá pyramida.
This insurance will give you certainty that, if any unfavourable events occur, you and your loved ones will have a secured living without more financial worries about repaying your loan.
Example 1:
A man aged 45 is considering buying a new piece of real property. He intends to finance a part
of its price using a mortgage loan in the amount of CZK 1,000,000 with the loan maturity
of 15 years. In order to secure his family, he chooses the complex insurance option covering
all the risks – death, total disability, working inability and loss of job. His monthly
expenses will thus increase by only CZK 450.
Example 2:
A couple aged 40 is applying for a mortgage loan in the amount of CZK 1,500,000 with maturity
of 20 years. They contribute by an equal share to their household´s total income and therefore
they both decide to take out an insurance policy. They will use the opportunity to arrange
the insurance for covering a part of the loan and each of them will cover with his/her insurance
one half of the loan. They will select the middle option, i.e. the insurance against death,
total disability and working inability. The total premium for two persons will be only CZK 676.
