Life insurance for individual entrepreneurs who receive a loan "Credit Card for Entrepreneurs"

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

Insurance risks:

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

Insured events under the Contract are events specified in the Contract as insurance risks, except for those that occurred under circumstances that are exclusions, and that took place during the validity period of the Contract and within its territory, confirmed by documents issued by competent authorities, upon the occurrence of which the Insurer is obliged to make an insurance payment in accordance with the terms of the Contract.

Insurance limitations:

Not subject to insurance under this product are:

• persons under 18 years of age, as well as persons who have reached 71 full years on the date of conclusion of the insurance contract;
• incapacitated persons officially recognized as such in accordance with the law.

The insurance sum is set at 500,000 UAH (the same for all insurance contracts). The amount of the insurance sum is determined by the Insurer in accordance with the assessment of credit repayment risks in the event of insurance risks. The terms of the insurance product do not provide the Insurer with the right to unilaterally reduce the amount of insurance sums and/or payments.

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 applies 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 according to the CMU Order dated 07.11.2014 No. 1085-r (with amendments and additions effective on the date of the event having signs of an insured event), or other legal acts 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, as amended and effective on the date of the event having signs of an insured event, or in accordance with other legal acts effective on the date of such event, adopted in case of cancellation of the mentioned Order;
3. territories of military actions 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 traveling before the Insured person crosses the border.

The Contract enters into force and insurance coverage begins from 00:00 of the day following the date of signing by the Parties of the Application for accession to the Contract in the form specified in Appendix No. 1 to the Terms of the insurance product, and provided the Total insurance premium for the first Insurance period is paid in accordance with the Contract.

Term of the Contract equals the term of the Policyholder’s use of the credit provided by the Beneficiary under the Credit Agreement specified in the Application. In case of extension of the credit use term, the Contract is extended for the same period, while insurance coverage under the Contract remains valid only if the Policyholder pays insurance premiums on time and in full, in accordance with the Contract terms.

The insurance period equals a calendar month.

In case of non-performance or improper performance of the terms of the Contract, the Parties shall bear liability in accordance with the current legislation of Ukraine.

The existence of circumstances that are exceptions from Insured events and insurance limitations provided by the Contract shall be grounds for refusal of an insurance payment.

Late notification by the Policyholder of the occurrence of an Insured event without valid reasons, or failure to perform other obligations specified by the Contract or legislation, if this has led to the Insurer’s inability to establish the fact, causes, and circumstances of the Insured event or its consequences, shall be grounds for the Insurer to refuse to make an insurance payment.

The Contract is an additional agreement 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 the receipt of 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 inform the Insurer of information essential for the Insurer’s decision on concluding the Contract and/or on the amount of the insurance premium under the Contract, including information about circumstances that are significant for assessing the insurance risk (determining the probability of occurrence of the insured event and the size of possible losses), and during the validity of the Contract, no later than 5 (five) working days after any changes occur, to notify the Insurer in writing of any change in circumstances significant for the assessment of insurance risk and/or other circumstances affecting the amount of the insurance premium under the Contract.

Information that is essential for the Insurer’s decision on concluding the Contract, and/or on the amount of the insurance premium under the Contract, and/or for the assessment of insurance risk includes data about the Insured person specified in the Application for accession to the Contract (Appendix No. 1 to the Terms of the insurance product).

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

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

The Policyholder under the Contract is not entitled to bonuses (benefits) from the placement and management of assets covering the Insurer’s relevant technical reserves. The Contract does not provide for an increase of the insurance sum and/or insurance benefits by amounts determined by the Insurer once a year based on its annual financial results (participation in the Insurer’s profits), taking into account the requirements of the regulatory acts of the National Bank of Ukraine.

This insurance product requires prior review by the consumer in order to make an informed decision regarding the conclusion of the insurance contract.

Before concluding the insurance contract, the consumer must review the information regarding exclusions from insurance events and grounds for refusal to make insurance payments, the Insurer’s liability limits for a specific insured object, insured risk and/or insured event, as well as the calculation procedure and conditions for making insurance payments, contained in the General Terms of the insurance product "Life insurance for clients – individual entrepreneurs who receive a credit «Credit Card for Entrepreneurs»" at JSC "Raiffeisen Bank", available at the following link:

https://uniqa.ua/storage/public-offer/partner-reports/RB1706_credytna_cartka_30.11.2024.pdf