A new insurance product from Eurolife, “Loan Payment Protection,” offers a modern solution to protect borrowers in cases of inability to work due to illness or accident.
In the event of an unexpected loss of income, this new benefit ensures that loan payments continue by paying the monthly installment directly to the bank, covering up to 100% of the obligation.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Addressing a real gap in the market, Eurolife is introducing a solution that focuses on where the need is most urgent: maintaining customers’ financial stability during difficult times. It complements existing coverage for Death and Permanent Total Disability, offering a comprehensive solution to protect loan obligations against any unforeseen event.
The product is designed for holders of mortgage and/or personal loans, as well as working professionals who rely on their income to meet their financial obligations. With this new benefit, Eurolife strengthens its portfolio of loan protection solutions, reaffirming its commitment to offering practical and flexible coverage, while the new solution aims to serve as an important financial safety net for households, providing peace of mind in the face of unforeseen circumstances.
Benefit payments begin after a waiting period of one or six months, depending on the customer’s choice, and can continue for up to 24 monthly installments per instance of disability.
It is intended for individuals aged 18 to 60 and can provide coverage for a period ranging from 5 to 45 years. It automatically expires at age 65 or on the expiration date of the Basic Plan, whichever comes first.
More information: Loan Payment Protection
