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Creditor Protection Insurance for a KB Mortgage Loan

Payment protection insurance for a mortgage from KB.

Payment protection insurance for a KB mortgage loan is intended for:

  • all clients applying for a mortgage loan
  • clients who are already repaying a mortgage loan

Characteristics of Payment protection insurance:

  • Insurance is offered in 3 alternatives
    • Alternative A – insurance for the event of death and full disability
    • Alternative B – insurance for the event of death, full invalidity and inability to work
    • Alternative C – insurance for the event of death, full invalidity, inability to work and loss of your job
  • In the event of death or acknowledgement of full disability for the client, the insurance company will make a one-off payment of the outstanding loan amount to the bank.
  • If you find yourself unable to work over the long-term or if you lose your job, the insurance company will assume settlement of regular loan instalments from you.
  • You will also be released from your obligation to pay the insurance premium, so your family budget will not be burdened in any way by your long-term obligations.
  • The insurance is arranged for the duration of the loan contract, however to a maximum age of the insured party of 75.

Advantages of Payment protection security:

  • possibility of gaining a discount on the interest rate for your loan
  • comprehensive insurance protection for difficult situations in life at an affordable price
  • possibility of change to the insurance alternative over the course of duration of the insurance contract
  • possibility of arranging insurance for an already repaid loan
  • possibility of insuring only part of the loan

Payment protection insurance for a KB mortgage loan allows you to:

  • Protect your loved ones and your property
    • you do not expose yourself or your loved ones to any financial burden resulting from the need to repay your mortgage loan during difficult situations in your life
    • you minimise the risk of forced sale of the mortgaged real estate
    • you protect your family savings against unplanned expenditure
  • Only pay what is really necessary
    • you do not start to pay insurance premiums until the moment you actually use the mortgage loan, i.e. at the moment you start to draw on it
    • in the event of an extraordinary repayment on the mortgage loan, your insurance will be recalculated and the premium will subsequently be decreased
  • Save time by arranging insurance together with the loan
    • you can simply arrange insurance and the mortgage loan with your relationship manager
  •  Gain more advantageous conditions for your mortgage loan
    • you can gain a lower interest rate with the insurance

How to get Payment protection insurance for a KB mortgage loan?

  • contact your relationship manager
  • call the free KB Info line on 800 521 521

The product is provided by Komerční pojišťovna, a. s.

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