Endowment life insurance

Financial protection and saving

We are becoming more and more aware that, once we retire, our income will significantly drop. Moreover, the income we and our family have now is mainly related to our work capacities. We should thus make sure that, no matter what happens to us, our family income will not be impacted on and that, when we retire, we will be able to keep the lifestyle we have now.

With endowment insurance, in the unfortunate case of your disappearance, your family will receive the sum set in the insurance contract. And if all is well, at the end of the contract you will also get to benefit of the sum assured. Besides, in any of the situations possible, you or your family will collect also the profit share afferent to the contract.

Risks covered

  • We cover the risk of death due to any cause, all along the validity period of the insurance policy and the assured’s survival upon maturity.

Duration

  • Minimum 5 years – Maximum 30 years.

Assured person

  • Minimum 18 years of age – maximum 65 years of age (at the commencement date of the policy) and maximum 75 years (at expiry date of the insurance policy).

Insurance Indemnity

The sum assured set by you upon the conclusion of the policy (or modified subsequently) plus the profit share afferent to the contract, amount which will be collected by you (upon maturity) or paid to the designated beneficiaries (in case the insured event occurs).

Payment Frequency

  • Annual, Half-quarterly, Quarterly or Monthly.

Avdvantages

  • Financial protection and savings for a future time.
  • It is a tax-free saving method.
  • Profit share resulted from the investment of the mathematical reserve payable starting with the third year of insurance (upon request or upon collecting the insurance indemnity).

For a complete protection, according to your needs, you can add to the basic insurance one or more additional riders, as detailed below. The riders can be attached to the policy at the initial issue date or subsequently, at any anniversary date.

Riders

Total and Permanent Disability Rider

It covers total incapacity due to illness or accident of the Assured Person to provide any paid or profit bearing employment if this total disability continued uninterruptedly for at least 12 months.

This state of disability must be final and permanent, according to medical documents issued by the competent authorities.

Daily Hospital Allowance Rider

Covers the hospitalisation costs as a result of an accident or illness suffered by the Assured Person, paid for each day of hospitalisation according to the set sum assured (25/50/75/100 RON / day). 

Same daily hospital allowance will be granted for a number of days of outpatient treatment and convalescence equal to the number of days of hospitalisation. For treatment in the resuscitation department, daily hospital allowance will be doubled.

Critical Illness Rider

Covers the Assured Person’s diagnosis with one of the following conditions: heart attack, stroke, diseases of the coronary arteries – requiring bypass surgery, cancer, kidney failure, major organ transplants, paralysis or blindness.

Accidental Death Rider

Covers the risk of death of the assured person, arising due to an accident, all along the rider’s validity period.

Waver of premium Rider

GARANTA ASIGURARI will take over the premium payment in case the Assured Person is totally and permanently disabled, due to an accident or illness.

Read here

Essential Information on Endowment Life Insurance.

Do you have a question?

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