Risk life insurance to Modrá pyramida loans – Description
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.
This insurance serves as effective protection against the consequences of following risks:
- death
- total disability
In such cases, the insurer pays the remaining debt and neither the insured nor his/her family have to continue paying the installments. - working inability
- loss of job of the insured
These risks are covered for insured person, who have their employment based on employment contract for indifinete period or for a fixed period of time longer than one year. In these cases, insurer pays monthly installments of loan including the saving part of construction saving account.
The product is offered in two options:
- the insurance with a decreasing sum insured is suitable for all clients
with a loan from Modrá pyramida
- In case of death or loss of autonomy of the insured, the insurance company will settle the outstanding debt to Modrá pyramida.
- It is suitable for securing any loan of all MPSS clients.
- The insurance coverage is equal to the outstanding amount of the loan at every moment and decreases in time. Therefore this insurance is offered for a very attractive price.
- the insurance with a constant sum insured is designed for clients who
not only want to secure the repayment of their debt, but would also like to provide for their
loved ones with financial resources for any unexpected life events
- As in the previous case, the insurance company will settle the remaining debt to Modrá pyramida and, in addition, it will pay out the difference between the settled debt and the stipulated sum insured to the insured´s family.
- This option is also suitable for clients who do not use any loan of Modrá pyramida. In this case the insured or his/her relatives always receive the entire stipulated sum insured.
