Loan Repayment Capacity Insurance
Loan repayment ability insurance related to a key person risk, which may only be purchased with profihypo loans for entrepreneurs, ensures smooth business company’s operations and loan repayment in case of an unforeseen and unexpected event with a negative impact on the key person.
The key person selected by a company, who is either an owner or an employee of a company and on whose managing discretions or professional skills company’s smooth operations are immediately dependent, can be insured. A sole trader can also be the key person by insuring himself/herself.
We offer two insurance coverages to choose from:
Insurance Coverage A
- insurance against death (caused by an injury),
- permanent and full disability insurance (caused by an injury),
- incapacity for work insurance (caused by an injury),
- hospitalisation insurance (caused by an injury).
B Insurance Coverage B
- insurance against death (caused by a disease or an injury),
- permanent and partial disability insurance (caused by a disease or an injury),
- incapacity for work insurance (caused by a disease or an injury),
- hospitalisation insurance (caused by an injury).
What are the insurance benefits?
- protection of your company against any financial constraints caused by an unforeseen event with a negative impact on the key person,
- in case of an insurance event, a company is entitled to insurance benefits,
- insurance policy can be signed fast and simple in the bank when entering into a loan agreement.
A key person meeting the insurance terms and conditions stipulated in accession to the insurance policy and in the General Insurance Business Terms and Conditions may accede to the insurance policy. The insured key person must be less than 60 years old when entering into the insurance policy and the policy must expire before she/he reaches 65 years of age.
