Life insurance for individual clients who receive a consumer loan "Credit Card"

The object of insurance is the life, health, and working capacity of the Insured person.

Insurance risks:

1. Death of the Insured person that occurred during the entire term of the insurance contract;
2. Disability of the Insured person of Group I or II.

Insurance events under the Contract are events defined in the Contract as insurance risks, except those that occurred under circumstances defined as exclusions, and that took place during the validity period and within the territorial scope of the Contract, confirmed by documents issued by competent authorities, upon which the Insurer is obliged to make the insurance payment in accordance with the Contract terms.

Insurance limitations:

The following persons are not subject to insurance under this product:

• persons under 18 years old, as well as persons who have reached the full age of 71 on the date of concluding the insurance contract;
• incapacitated persons, recognized as such in the manner prescribed by law.

The insurance sum is set at UAH 500,000 (the same for all insurance contracts). The amount of the insurance sum is determined by the Insurer based on the assessment of credit default risks in case of occurrence of insurance risks. The terms of the insurance product do not provide the Insurer with the right to unilaterally reduce (decrease) the amount of insurance sums and/or benefits.

Insurance tariff – 0.7% for each insurance risk and for the insurance contract as a whole.
Total insurance premium = insurance tariff × insurance sum.

No deductible is applied under the insurance contract.

Territory of the insurance contract: Worldwide.

The contract does not apply to:

1. territories where state authorities temporarily do not exercise their powers, in settlements located along the demarcation line in accordance with CMU Order of 07.11.2014 No. 1085-r (as amended on the date of the event having signs of an insured event) or other regulations effective on the date of such event;
2. territories defined in the List approved by the Order of the Ministry for Reintegration of the Temporarily Occupied Territories of Ukraine dated December 22, 2022 No. 309, in the version effective on the date of the event having signs of an insured event, or in accordance with other regulations effective on the date of such event, adopted in case of cancellation of the said Order;
3. territories of hostilities of any kind; temporarily occupied, annexed or disputed territories; territories of states not recognized by Ukraine in the prescribed manner;
4. territories for which the Ministry of Foreign Affairs of Ukraine has issued a recommendation to refrain from travel before crossing the border by the Insured person.

The Contract takes effect and insurance coverage begins at 00:00 on the day following the date of signing by the Parties of the Application for accession to the Contract in the form provided in Annex No. 1 to the Terms of the insurance product and subject to payment of the Total insurance premium for the first Insurance Period in accordance with the Contract.

Term of the Contract equals the period of use by the Policyholder of the loan provided by the Beneficiary under the Loan Agreement specified in the Application. In case of extension of the loan period, the term of the Contract is extended for the same period, provided that the insurance coverage under the Contract is valid only if the Policyholder pays insurance premiums on time and in full, in accordance with the Contract.

The insurance period equals one calendar month.

In case of non-fulfillment or improper fulfillment of the terms of the Contract, the Parties shall be liable in accordance with the current legislation of Ukraine.

The existence of circumstances that are exceptions to insured events and insurance limitations provided for in the Contract constitutes grounds for refusal of the insurance payment.

Failure by the Policyholder to notify the Insurer of the occurrence of an insured event in a timely manner without valid reasons, or failure to perform other obligations defined by the Contract or legislation, if this has made it impossible for the Insurer to establish the fact, causes and circumstances of the insured event or its consequences, shall be grounds for the Insurer to refuse to make the insurance payment.

The Contract is an addition to the banking services under the Credit Agreement specified in the Application, concluded by the Policyholder with JSC “Raiffeisen Bank”. In connection with the conclusion of the Contract, there is no need to obtain additional or related services from the Insurer and/or third parties related to receiving the financial service under the Contract.

Discounts and promotional offers are not available and do not apply.

Before concluding the Contract, the Policyholder is obliged to provide the Insurer with information that is essential for the Insurer’s decision to conclude the Contract and/or to determine the amount of the insurance premium under the Contract, including information on circumstances that are significant for assessing the insurance risk (determining the likelihood of an insured event and the size of possible losses), and during the term of the Contract, no later than 5 (five) working days after changes occur, to notify the Insurer in writing of any change in circumstances that are significant for assessing the insurance risk and/or other circumstances affecting the amount of the insurance premium under the Contract.

Information considered essential for the Insurer’s decision to conclude the Contract and/or the amount of the insurance premium under the Contract, and/or for assessing the insurance risk includes details about the Insured Person specified in the Application for joining the Contract (Appendix No. 1 to the Terms of the insurance product).

The procedure for taxation of insurance payments is specified on the Insurer’s website at the link
https://uniqa.ua/storage/files/shares/ Public info/Procedure for taxation of insurance payments.pdf.
This insurance product does not provide for tax deductions (tax benefits).

The terms of this insurance product do not provide the Insurer with the right to unilaterally reduce the amount of insurance sums and/or payments.

The Policyholder under the Contract has no right to bonuses (benefits) from the placement and management of assets covering the respective technical reserves of the Insurer. The Contract does not provide for an increase in the amount of the insurance sum and/or payments by amounts determined by the Insurer once a year based on the financial results of its activities for the year (participation in the Insurer’s profits), subject to the requirements of the regulations of the National Bank of Ukraine.

This insurance product requires the consumer’s prior review in order to make an informed decision about entering into the insurance contract.

The consumer must review, prior to concluding the insurance contract, the information on exclusions from insured events and the grounds for refusal of insurance payments, the Insurer’s liability limits for a specific object of insurance, insured risk and/or insured event, as well as the procedure for calculating and the conditions for making insurance payments, contained in the General Terms and Conditions of the insurance product “Life insurance for clients — individuals receiving a consumer loan ‘Credit Card’ at JSC Raiffeisen Bank,” available at: https://uniqa.ua/storage/public-offer/partner-reports/RB1701_credytna_cartka_30.11.2024.pdf