- Protect what is important!
- Insure against insolvency
- Feel calm and safe
Terms and Fees
Payment protection insurance lets you and your family keep calm and secure, protects you from unexpected cases of insolvency.
You can purchase payment protection insurance with the following loans*:
|Mortgage||1.95% of monthly payment|
|Consumer loan||3.9% of monthly payment|
|Auto loan||3.9% of monthly payment|
|Fast installment||3.9% of monthly payment|
|Installment card||4.55% of monthly payment|
|PrimeCard||4.55% of monthly payment|
|TBC Card||4.55% of monthly payment|
What is Payment Protection Insurance?
New product, which will help you to avoid discomfort in case of non-repayment of loan or credit card payments.
In case if you suddenly find yourself in a precarious position, Payment Protection Insurance will cover loan or credit card payments for 6 month, that will give you an opportunity to feel completely safe and comfortable.
Which cases will be covered by Payment Protection Insurance?
Payment Protection Insurance will compensate loan/credit card payments, in case if you remain unemployed or an accident occurs;
- Unemployment means – forced termination of your employment contract by the employee, which implies dismissal. The reasons for such dismissal are: the company's liquidation, reorganization, reduction and etc.
- An accident means – bodily injury, trauma, which may prevent you from fulfillment of your duties.
Which cases will not be compensated by Payment Protection Insurance?
The main exceptions of the unemployment are:
- Unsolicited dismissal, on the basis of the personal application;
- Expiration of the Agreement validity period or completion of job under the Labor contract;
- Dismissal because of participation in a criminal act;
- In case if information concerning possible dismissal is known before insurance provision (written document);
- Dismissal due to reaching retirement age;
- Starting a new job.
Main exceptions of accident events:
- An accident caused by any disease; (for example: stroke, infarction and etc.)
- Self-harm, non-avoidance of danger;
- Trauma caused by alcohol or drug intoxication;
- Accidents occurred before Insurance.
You can see full list of exceptions in your Insurance Agreement.
How shall we act in case of insurance case occurrence?
In the event of insurance case occurrence it is necessary to:
- Within 48 hours establish contact with TBC Insurance Hotline by calling the following telephone number: 2 42 22 22;
- Within 15 calendar days to submit documentation necessary for compensation.
What documents should be submitted to get compensation?
Unemployment - standard documents:
- The Insurance Policy;
- Certificate of resignation, which should include reason of dismissal;
- Copy of ID document;
- Copy of Labor contract;
- Statement of salary account (for at least 3 month).
Accident event - standard documents:
- Bulletin from medical institution where medical treatment was provided;
- Decision of medical assessor (Form50);
- The Insurance Policy;
- Copy of ID document;
- Certificate confirming the occurrence of an accident (issued by clinic, police, fire brigade or other according services);
- In case of Insured person's death, certificate, medical assessment report concerning the death of insured person.
TBC insurance has right, in case of accident event occurrence, to request additional documentation when making decision.
During what period of time the insurance case will be compensated by TBC insurance?
- Information concerning compensation will be available maximum in 15 business days from the moment of submission of complete documentation;
- You will get compensation of maximum 6- month payment within a year;
- TBC insurance will cover your credit payment after one calendar month, from the moment of insurance case occurrence;
For example: if you remain unemployed or an accident occurred on March 22 and loan payment date is April 26, one payment should be funded with your own expenses and by April 26 the loan payment compensation shall be carried out by TBC insurance.
What happens if you fail to pay insurance product cost on time?
In case if you fail to make loan/credit payment insurance monthly payment in timely manner, then:
- In case of 14 days overdue the insurance compensation will be suspended, and in case of debt repayment the insurance will be activated again;
- In case of 30 days overdue Payment Protection insurance will be cancelled.
- In case of suspension or cancellation of the Policy you will get information in the form of short text message (SMS).
Is it possible to terminate Payment Protection Insurance?
- Termination of loan contribution insurance is possible. For this purpose you should contact with any branch or service-center of TBC Bank;
- The termination of the Policy will be carried out within 2 business days from the moment of the application submission.
Is it possible that the Payment Protection Insurance is not completely covered by TBC insurance?
- Partial coverage of Payment Protection Insurance - if you choose partial coverage of loan contribution, then in the event of insurance case occurrence you should add the amount by your own;
- Accrued penalty –in case the penalty has been accrued to your loan or the credit card due to delay of the monthly payment, then by means of the amount transferred by the insurance the part of the arrears will be covered for which the indicated amount is sufficient, and the repayment of the remaining arrears shall be secured by you;
- First loan payment to be repaid by the client - if you fail to repay the first payment regarding the loan or the credit card in the event of incurring of the insurance case;
- Any other unforeseen case.
No matter when the fine accrued before the insurance case occurrence or after.
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