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CREDITLIFE
Creditlife Payment Protection Insurance
Do you finance your car through a lease agreement? Have you ever worried that you may have problems to pay instalments if you became unemployed, for example? Nowadays, more and more people buy their property, cars or house equipment on mortgage, loan or other finance contracts. Often they don’t like to think about bad things that could happen in future but the unexpected sometimes happens to each of us. You conclude a car finance contract for several years, but you never know when you can get sick, seriously injured in a car accident or whether your employer has to close down and you loose your job.
In each of these situations, including accidental death, you or your family will be protected against a heavy burden of lease repayments. The Creditlife payment protection insurance provided by Carlife covers your financial liability towards the leasing company in the unexpected cases of sickness, injury, accidental death or unemployment during the period of your lease contract.
There are two variants of the insurance product, AS and ASU, differing in the scope of coverage. Both variants are insured by the TOP 25 world insurance company of QBE Insurance (Europe) Limited, with A+ rating by Standar & Poor's.
LAS (ACCIDENTAL DEATH, ACCIDENT & SICKNESS)
The LAS variant of the Creditlife product covers the financial liability of the leasing client in the event of his accidental death or his work-disability, which lasts longer than 30 days and is confirmed by a medical doctor.
The period of insurance is concurrent with the period of lease but must not exceed 60 months.
Who is eligible?
- natural persons, employed or self-employed
- aged 18 – 64 and must not attain 65 before the end date of the insurance period
- having permanent residence in the Slovak Republic
- being in good health condition (the client signs a declaration of health)
Benefits
- in the case of accidental death of the insured the insurer pays the compensation in the amount of the outstanding balance of insureds debt with the leasing company up to the maximum limit of 2.500.000,- Sk
- in the case of work-disability longer than 30 consecutive days the insurer pays the compensation in the amount of the insured’s monthly leasing instalment for each 30-day period of work-disability
- the maximum limit of compensation for work-disability is 37,500 SKK in respect of one monthly instalment and the maximum number of benefits paid during the period of insurance is 24
LASU (ACCIDENTAL DEATH, ACCIDENT, SICKNESS, UNEMPLOYMENT)
The LASU variant of the Creditlife product protects the leasing client against his disability to repay leasing/loan contract in the event of his accidental death, work-disability and also unemployment which lasts longer than 30 days.
The period of insurance is concurrent with the period of lease but must not exceed 60 months.
The right to receive compensation for unemployment arises upon completion of a waiting period of 60 days from the start date of the period of insurance.
Who is eligible?
- natural persons in full-time employment
- aged 18 – 64 and must not attain 65 before the end date of insurance period
- having permanent residence in the Slovak Republic
- being in good health condition (the client signs a declaration of health)
- being engaged in a full-time permanent employment relationship for a minimum of 12 months prior to the start date of the insurance period (the client signs a declaration of employment)
Benefits
- apart from the benefits under the LAS variant, in the case of involuntary unemployment longer than 30 consecutive days the insurer pays the compensation in the amount of the insured’s monthly leasing instalment for each 30-day period of unemployment
- the maximum limit of compensation is 37,500 SKK in respect of one monthly instalment and the maximum number of benefits paid in respect of one period of unemployment is 12
- the maximum number of benefits payable for unemployment for the duration of the insurance period is 24
Get the Creditlife insurance and protect yourself and your relatives ...
THINK ABOUT THE FUTURE NOW !