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Life & Health

Questions and answers
Life Insurance: What You Need to Know

Health and Life insurance is one of the most widespread personal financial protection tools globally. According to recent estimates, 20% to 95% of citizens in Europe utilize it, depending on the country. In Austria, the home country of UNIQA, the life insurance coverage rate exceeds 90% of the population. In Ukraine, life insurance is a voluntary service. You can purchase a policy not only for yourself or your family but also to insure your employees under a corporate program. Each option has its advantages.

The main objective is to build personal capital and create a financial safety net for various life situations. Primarily, this refers to retirement capital, but you can also save for other purposes, such as your children's education or starting your own business. The insurance company accrues investment income on the contributions made, and due to the long accumulation period of 10, 15, or even 30-40 years, this income multiplies according to the rule of compound interest.

A savings policy is usually combined with term life insurance. It provides payouts in case of adverse life circumstances, such as disability due to illness or accident. In the most challenging situations, when a person passes away prematurely, the benefits are received by their loved ones – the beneficiaries specified in the contract. Thus, a life insurance policy is an important financial security tool not only for the insured person but also for their family, children, and anyone else who depends on the person holding the insurance.

Anyone with financial obligations to their family – primarily minor children or elderly parents – should consider getting a policy. It is also beneficial if you have significant financial goals and want to achieve them with minimal risks. While savings insurance doesn't offer exceptionally high investment returns, it ensures safe accumulation of funds. The government imposes strict requirements on Ukrainian insurance companies regarding their financial reliability and methods for safeguarding clients' funds. The key is to choose an insurer that strictly adheres to these requirements.

There are many important factors, and understanding them on your own can be very challenging. In what currency will the savings be accumulated? What life risks will the policy cover? For what period is it best to sign the contract? And most importantly, which company should you trust with your money and future plans? These fundamental questions are just the beginning, so we recommend seeking answers with UNIQA experts. Leave a request on our website, and we will definitely help you.

Accumulation life insurance is a type of insurance that combines life protection for the policyholder with the possibility of capital accumulation, providing payouts both in case of death and at the end of the contract term. This type of insurance allows the insured person to save and increase their savings, providing financial support for themselves and their loved ones. These are regular contributions and a lump-sum payment of the accumulated amount after the contract term.

It depends on many factors:

  • Age (the younger, the lower the rate);
  • Gender (women have a lower rate than men);
  • Set of risks and insurance programs (exclusively risk of death, pension, savings, death from any cause, or disability).
  • Survival to a certain term (end of the insurance contract);
  • Accidental death (in this case, the insurance amount doubles);
  • Disability;
  • Death (from any cause).
  • First diagnosed during the insurance contract period: myocardial infarction, stroke, malignant tumors, kidney failure, paralysis, blindness;
  • Surgery for coronary artery bypass grafting or transplant of a vital organ (heart, lung, liver, kidney, pancreas, bone marrow) performed on the insured person during the contract period.

The answer is simple – feel more confident.

Usually at the age of 30-35, a person realizes how valuable their life and health are. The future depends on today's activities, such as the ability to save for retirement. A person's well-being largely determines the fate of their children, elderly parents, and sometimes even business partners and employees.

Unfortunately, there is no guarantee of healthy longevity. As a result, financial protection through life insurance has become the norm in many countries. There is an opinion that having insurance is a duty to your family, relatives, civic duty and simply a necessity.

However, today this service is becoming popular in Ukraine as well.

According to Ukrainian law, everyone in our country can use voluntary life and health insurance. It allows you to build personal savings for 5, 10, 15 or even 30 years while protecting your health financially. Therefore, all life programs can be divided into two broad groups: endowment and risk-based. They can be used together or separately. Each type of protection has its own specifics.

The service is similar to a bank deposit – long term and with regular replenishment. Additional income is accrued on the accumulated amount and the client receives this money at the end of the contract.

Important: An endowment program is very different from a deposit. It is also possible to receive a payment not only after contract expiration, but also in difficult life situations – disability, accident. The client will receive the money, and in the most difficult situations, their loved ones.

It provides protection in the event of health problems: injury, surgery, or a serious illness that requires expensive treatment. Sudden death is another possible risk.

In this situation, the insurer will pay you the amount specified in the policy in advance. 

The money can be used as you see fit. For example, to pay for medical services, rehabilitation, loss of income, or financial support for the family.

It is not easy to understand the nuances of life insurance, so an online calculator will not help. We recommend that you seek professional advice to help you choose the best life and health insurance policy.

Important: You can purchase a policy with UNIQA for yourself or your family. We also offer corporate programs. They will be useful for responsible employers – anyone who wants to provide a reliable social package to their team.

Health Insurance allows you to get medical care for sudden illnesses or exacerbations of chronic health problems.

UNIQA organizes the treatment of its clients in partner clinics throughout Ukraine, arranges for an ambulance and a doctor at home, and payment for medications. Such a policy covers most of the costs of medical services and the purchase of medicines prescribed by a doctor. This service is suitable for those who value comfort and quality of treatment.

  1. Загальна заява на внесення змін
  2. Заява на зміну контактів та персональних даних
  3. Заява на зміну Вигодонабувача за дожиттям
  4. Заява на зміну Вигодонабувача на випадок смерті
  5. Заява про серйозні захворювання; зміну роду діяльності
  6. Заява на повернення помилково сплаченого платежу
  7. Заява на зміну страхувальника за договором страхування життя
  8. Заява на зміну умов договору
  9. Заява на виплату страхового відшкодування
  10. Заява на призупинення дії договору страхування життя (фінансові канікули)
  11. Заява на перезарахування страхового платежу
  12. Заява на отримання довідки про внесені платежі
  13. Заява про переведення договору у стан зі зменшеною (редукованою) страховою сумою   
  14. Опитувальник з фінансового моніторингу для фізичних осіб
  15. Анкета для проведення ідентифікації клієнта - фізичної особи, індивідуального підприємця та особи, що займається приватною практикою, з метою реалізації вимог Закону FATCA/The FATCA Related Identification Questionnaire* (Individuals)

The cost of a voluntary health insurance (VHI) policy depends on the insurance amount and the set of options. On average, the ratio between coverage and price is 1:12. The insurance company may set limits on services (dentistry, elective surgery, etc.) within the range of 500–5000 UAH, increasing which will affect the price.

  • A doctor's consultation that has not been approved by UNIQA medical assistance.
  • Visits to a dietitian, plastic surgeon, and some other doctors.
  • Preventive visits.

The insurance covers physical damage of varying degrees of severity sustained as a result of a road accident, natural disaster, unlawful actions of third parties, electric shock, or other sudden events. Damage includes injuries, mutilations, burns, frostbite, poisoning, wounds, and more.

Voluntary medical insurance for employees is an important investment in the health and well-being of your team. It provides access to quality medical services, contributing to faster recovery and reducing the number of sick days. It also increases employee loyalty and motivation, improving the overall atmosphere in the team. Caring for employees' health is the key to your business's success.

Accident insurance operates 24/7, anywhere in Ukraine or around the world. Problems can arise during a walk, on the way to work, or on vacation. Injuries often occur during business trips, while engaging in amateur sports – at the gym or during a regular run. The typical policy duration is 1 year.

Important: For employees in certain professions in Ukraine, compulsory social insurance against workplace accidents is in effect. This is provided by the state, so such protection covers only injuries sustained at work. This is why voluntary accident insurance remains relevant for individuals who already have a mandatory policy.

The maximum allowable age is 65 years

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